Estate Planning
RULES OF CLIENT ENGAGEMENT - 45-60 MINUTE SESSION
Estate Planning is an area which has always been on the radar for most risk advisers - but often as a perpipheral issue. In many cases it has simply involved asking the client if they have a will and, if not, recommending they get one executed as soon as possible.
Not only does this invariably fail to create sufficient "call to action" for the client, but it also results in the advisers missing out on a huge opportunity to add value to their advice process and offer a comprehensive service to their clients in the risk advice space.
Many advisers skirt around the estate planning issues due to a perceived complexity that takes them outside their comfort zone. The reality is that, similar to business insurance, we can and should be delegating a lot of the technicalities of the estate planning strategies to the experts i.e. the lawyers and life company technical support teams. I regard my primary job in the process as that of a facilitator.
This session is designed to outline the rules of client engagement for the risk adviser with regard to estate planning. In my view, the adviser is directly responsible for initiating and conducting the engagement part of the process as well as facilitating the implementation part of the process, but the meat in the sandwich i.e. the recommendations or strategies are largely delegated to other specialists in the field - with you there to hold the client's hand at each step of the way.
The session will cover off on 4 simple steps in the client engagement process:-
* Positioning - how to position estate planning with clients in the context of a comprehensive financial plan.
* Personalising - how to make estate planning relevant to each and every client NB the family tree.
* Probing for the client's overall objectives - this must include ALL the "what if" scenarios which must involve a personal succession plan.
* Proceeding with the succession plan - how to overcome potential barriers to implementation and some tips to facilitate the appropriate action.
Should this workshop be of interest to you or your firm, please get in touch with any questions or to make your booking.