Advisor for Life: Become the Indispensable Financial Advisor to Affluent Families
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If you intend on becoming a financial advisor to today's affluent families—especially those within the baby boomer generation—you need to provide them with guidance so thorough, insightful, and valuable that it will allow you to stand out from the rest of the financial professionals in this field.Advisor for Life can help you do this and much more. Going far beyond everyday investment issues—such as setting a client's investment goals, selecting complementary investments, and monitoring portfolio balance—this practical guide will help you truly understand your clients' needs and develop a personalized plan that will allow them to live financially secure and fulfilling lives.Industry visionary Steve Gresham has extensive experience in the world of wealth management, and with Advisor for Life, he wants to share those experiences with you. Within these pages, Gresham not only shows you what it takes to run a financial advisory practice geared towards affluent families, but he also reveals how an "advisor for life" should properly protect, motivate, and educate clients over the course of the relationship.Divided into four comprehensive sections, Advisor for Life opens with a detailed discussion of the opportunities available within the industry, and then moves on to outline the essential elements of wealth management. Topics covered include:Developing a compelling investment philosophy and establishing an effective process that will guide the investment decisions you make for your clientsManaging a client's fears and dreams when dealing with new wealth, retirement expectations, and the impact of taxationHelping affluent families pass wealth on to their heirs by sorting through the emotions that often entangle spouses, adult children, and aging parentsConveying your expertise, experience, and value proposition to existing clients, affluent prospects, and critical referral sourcesCreating a framework to optimize the value of a financial advisory practiceAnd much moreDelivering a consistently superior level of service to an affluent client base is the only way to survive and thrive in today's competitive financial advisory business. Filled with in-depth insights, informative examples, and engaging case studies, Advisor for Life will show you the best ways to successfully serve today's most affluent clients.
Acknowledgments. About the Author. About the Contributors. SECTION ONE. THE STATE OF THE ADVICE INDUSTRY AND YOUR OPPORTUNITIES. Introduction. Buicks and Big Macs: What the Financial Advice Industry Can Learn from General Motors, McDonald’s and Federal Express. Chapter 1. The Value of Advice: Which Advice Is Most Valued by Affluent Households—And What Should It Cost? SECTION TWO. INVESTMENT COUNSEL ADVICE FOR LIFE. Chapter 2. How to Develop a Compelling Investment Philosophy. Chapter 3. Creating a Defined, Effective Investment Process. Chapter 4. Setting Goals: What Really Matters? Chapter 5. Defining Risk: Or, Is Risk-Management a Contradiction in Terms? Chapter 6. Diversification: Helping Clients Reap the Benefits of Institutional Investing. Chapter 7. Alternative Investments. SECTION THREE. WEALTH MANAGEMENT ADVICE FOR LIFE. Chapter 8. Managing Dreams and Fears—A Total View of Wealth. Chapter 9. You Can Help Clients Grow. Chapter 10. All in the Family and Keeping It That Way. Chapter 11. Money for Life. SECTION FOUR. BUILDING YOUR “ADVISOR FOR LIFE” PRACTICE. Chapter 12. What Is Your Value? Chapter 13. How to Quantify Your Unique Value. Chapter 14. The Advisor-Client Tango. Chapter 15. Driving Referrals. Chapter 16. Selling Yourself. Chapter 17. Valuing the Advisor for Life Practice. Chapter 18. Taking Care of #1 Appendix A. The Practical Analysis. Appendix B. Investment Policy Statement. Appendix C. The Top-Twenty Client Analysis. Bibliography. Index.
