Financial advisors often overlook a vital opportunity: cultivating relationships with the next generation before they seek their own advisors.
Fostering trust early ensures continuity, loyalty, and seamless wealth transfer. It's not just about retaining clients"it's about building a legacy.
Take a proactive approach to engage heirs now. The long-term benefits are undeniable.
How are you building these relationships today?
Ready to take your expertise to the next level?
Join Pareto Systems' upcoming training program in partnership with the Institute for Preparing Heirs. Learn how to guide your clients through wealth transfer, build meaningful relationships with the next generation, and position yourself as a trusted advisor in their financial journey.
Visit: paretosystems.com/iph to learn more and sign up. Training starts in March. Act soon as spaces are limited!
Proven Strategies Blog
This short is an excerpt of a clip from episode 71 of the "Always On with Duncan MacPherson' financial advisor podcast featuring advisor podcast featuring Dr. Karen Weisgerber, Principal Consultant at Cambium Consulting Group. WATCH the entire video clip on YouTube by clicking here: https://youtu.be/_X2BrjCmirY
For many self-made affluent families, wealth transfer feels like moving to an unfamiliar country without a map. Meanwhile, their children are born into this world and often struggle to connect.
Advisors can provide that roadmap, bridging the gap between generations and guiding families through uncharted territory. It's about more than money"it's about values, vision, and connection.
Be the trusted guide your clients need to navigate wealth transfer.
How are you helping families on this journey?
Ready to take your expertise to the next level?
Join our upcoming training program in partnership with the Institute for Preparing Heirs. Learn how to guide your clients through wealth transfer, build meaningful relationships with the next generation, and position yourself as a trusted advisor in their financial journey.
Visit: paretosystems.com/iph to learn more and sign up. Training starts in March. Act soon as spaces are limited!
This is your chance to gain tools and strategies that will set you apart. Don't wait"start future-proofing your practice today!
Advisors and the Rising Generation
Wealth transfer often occurs when heirs are well into adulthood, by which time they may have already formed relationships with other advisors. Proactively engaging with the next generation early"through financial literacy education, mentoring, charitable giving discussions, and managing smaller accounts"positions advisors as trusted mentors long before wealth transitions occur.
By starting conversations as early as elementary school, advisors help families instill values around money, giving, and decision-making. This approach not only strengthens client relationships but ensures advisors are prepared to guide the next generation effectively when the time comes.
This clip is an excerpt from episode 71 of the "Always On with Duncan MacPherson' financial advisor podcast featuring Dr. Karen Weisgerber, Principal Consultant at Cambium Consulting Group. Stream the entire episode at one of the following links:
Apple Podcasts: paretosys.co/ao_ap
Spotify: paretosys.co/ao_sp
Find Your Channel: paretosys.co/ao_bb
Dig your well before you're thirsty
Too many advisors and clients wait for a crisis before addressing wealth transfer and legacy planning. But success isn't accidental, it's built into your process.
Proactive planning is the key to ensuring a smooth transition. When you approach wealth transfer intentionally, you eliminate stress and create a roadmap for clarity and purpose.
Start building today. Whether you're mentoring the next generation or refining your process, the work you do now sets the stage for lasting impact.
How are you digging your well?
Want to dive deeper into these insights? Listen to the latest episode of the Always On Podcast featuring Dr. Karen Weisgerber and Duncan MacPherson on your favorite podcast provider:
Apple Podcasts: paretosys.co/ao_ap
Spotify: paretosys.co/ao_sp
Find Your Channel: paretosys.co/ao_bb
A Key to Long-Term Advisor Success
Treating the next generation as prospective clients is an essential yet often overlooked strategy for financial advisors. Younger family members are increasingly seeking help to prepare for wealth transitions, often expressing frustration over a lack of communication and guidance from their parents.
Advisors play a pivotal role in equipping families to have meaningful conversations, fostering stronger intergenerational connections, and preparing heirs for financial stewardship. By addressing these concerns, advisors not only strengthen client relationships but also position themselves to cultivate lasting bonds with future generations.
This clip is an excerpt from episode 71 of the "Always On with Duncan MacPherson' financial advisor podcast featuring Dr. Karen Weisgerber, Principal Consultant at Cambium Consulting Group. Stream the entire episode on your favorite podcast channel at one of the following links:
Apple Podcasts: paretosys.co/ao_ap
Spotify: paretosys.co/ao_sp
Find Your Channel: paretosys.co/ao_bb
This short is an excerpt of a clip from episode 70 of the "Always On with Duncan MacPherson' financial advisor podcast featuring Sathya Chey Patterson, Managing Partner at Arise Private Wealth. WATCH the entire video clip on YouTube by clicking here: https://youtu.be/lAOT3pqj4TQ
Bridging Wealth and Legacy: Preparing the Next Generation with Dr. Karen Weisgerber - Always On with Duncan MacPherson Podcast, Ep. 71
In this episode, I sit down with Dr. Karen Weisgerber, Principal Consultant at Cambium Consulting Group, and a seasoned expert with over 30 years of experience in wealth creation and inheritance. As a faculty member of the Institute for Preparing Heirs and a thought leader in wealth transfer and philanthropy, Dr. Weisgerber dives into the most pressing concerns facing affluent families today.
Key discussion points include:
- How financial professionals can integrate legacy planning into their deliverables.
- Strategies for effectively communicating wealth transfer processes to clients.
- Practical insights for advisors to apply both professionally and personally.
Dr. Weisgerber's extensive academic background, including a PhD and a postdoctoral fellowship in neuropsychology affiliated with Harvard University, lends unique depth to the conversation. This episode is a must-listen for financial advisors aiming to address the nuanced needs of wealth creators and their heirs.
Stream the full podcast for these, and more, valuable insights at one of the following links:
Apple Podcasts: paretosys.co/ao_ap
Spotify: paretosys.co/ao_sp
Find Your Channel: paretosys.co/ao_bb
Mastering Total Client Engagement with Duncan Macpherson
Elevate your client relationships and drive meaningful growth in your practice with Duncan MacPherson, a renowned authority on practice management and relationship-building for financial advisors. In this webinar, Duncan will share game-changing strategies from the acclaimed Total Client Engagement (TCE) program, designed to help you foster deeper connections, enhance client loyalty, and create a more purposeful business.
With the TCE strategies, Financial Advisors are equipped to:
- Foster complete empowerment from their clients.
- Cultivate a community of fiercely loyal advocates immune to competition.
- Generate a consistent flow of high-quality introductions.
This session is tailored for advisors committed to elevating their client management approach and unlocking predictable, sustainable growth. With actionable insights and practical strategies, you'll be equipped to build a practice that thrives on deep, meaningful client relationships.
Date: Tuesday, January 21, 2025
Time: 12:00 PM ET / 9:00 AM PT
Host: Duncan MacPherson
This short is an excerpt of a clip from episode 70 of the "Always On with Duncan MacPherson' financial advisor podcast featuring Sathya Chey Patterson, Managing Partner at Arise Private Wealth. WATCH the entire video clip on YouTube by clicking here: https://youtu.be/vfUpoWikVTw
