Chartered Legacy Advocate

Legacy planning can help with client retention and grow your business. It allows families to preserve history and values while offering support to the surviving spouse.

The Formula for Success as a Wealth Manager Is Simple

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Find and Acquire Clients with Assets to Manage

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Manage Client Assets in a Competitive Environment

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Retain Client Assets through Generational Transitions

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Acquiring Clients

Seasoned Wealth Managers know two things: referrals are valuable, but acquiring them doesn’t happen overnight. To be successful, you’ll need to relentlessly network and build meaningful relationships. The public cares less about how much you know and more about how much you care.  

Managing Client Assets

Managing client assets has been commoditized. According to Investopedia, Robo Advisory software promises competitive investment returns and low fees. Despite this innovative technology, the fallout from market corrections can lead to a loss of confidence and client dissatisfaction. Staying in communication in these difficult times is paramount to building client loyalty.

More info on the value of financial advisors during market turbulence.

Retaining Clients with Legacy Planning

Retaining clients is the greatest challenge of all. Losing clients is not a question of ‘if’ but ‘when’. Upon the passing of a primary client, successors (surviving spouse and family) routinely opt to find new advisors. Innovative Relationship

Management can change this paradigm.  Fidelity as well as the Institute for Preparing Heirs say that 90% to 95% of offspring leave their parents’ advisors upon receiving their inheritance.  Additionally, 70% of the time the surviving spouse switches to another financial advisor.  Here are recommendations on what to say when this occurs.  

Since women outlive men by an average of five years and tend to marry partners who are two years older, a McKinsey study expects there will be a significant shift to women-controlled wealth.  

By 2030, American women are expected to control much of the $30 trillion in financial assets that baby boomers will possess.

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Why Legacy Planning

Legacy Planning reinforces generational bonds and provides greater continuity and clarity of the family’s values. It ensures the efficacy of both the Financial and Estate Plans. Legacy Stories provides Wealth Management firms with the tools and training to implement Legacy Planning in their service offerings.

Become A Chartered Legacy Advocate
Enhance Public Image
Increase Quality and Number of Referrals
Retain more clients through generational transitions

Legacy Planning Can

Legacy Planning reinforces generational bonds and provides greater continuity and clarity of the family’s values. It ensures the efficacy of both the Financial and Estate Plans. Legacy Stories provides Wealth Management firms with the tools and training to implement Legacy Planning in their service offerings.

Increase Quality and Number of Referrals
Enhance Public Image
Retain more clients through generational transitions
Become A Chartered Legacy Advocate