Over the years, I’ve met dozens of financial advisors in the San Francisco Bay Area. Most are just fine. They crunch the numbers and work the charts, and when markets do well, they can do no wrong. The true test of their relationship with their clients comes when times are bad - When fear is high, loss is painful and trust is compromised.
Some financial advisors understand these pendulum swings in mood and confidence and use the undulations to think outside the box. I like to think of these firms who understand the soft side of financial planning as the harbingers of how business will be done in the future.
For example, Paul King, president of King Wealth Planning Inc. has been presenting community programs to educate and empower people , and especially women, about how to lead an enlightened financial life. The cost of these programs comes right off King’s bottom line. But the good will it generates can’t be measured in dollars. It is measured in trust.
Can the firm point to a direct correlation between what the programs cost them and what they receive in return? Not yet, but I’m hoping the coming years will repay the firm with a cornucopia of business because of what they were willing to provide at the front end.
Another creative soft side approach is that followed by Lasecke Weil LLC Wealth Advisory Group, headed by Tracy Lasecke and Curt Weil. They know that baby boomers and their parents often find it difficult to begin the crucial conversations they need to have about planning. They also believe that training their own team in how to be more sensitive to intergenerational issues makes it easier for the planning process itself to begin.
You can learn more about the soft side of financial planning. It's as much about hearts as charts.
http://www.financialconversationswithheart.com
http://www.kingwealth.com.
http://www.laseckeweil.com
No comments:
Post a Comment