TITLE

Strengthening the Planner/Attorney Team

AUTHOR(S)
Opiela, Nancy
PUB. DATE
October 2004
SOURCE
Journal of Financial Planning;Oct2004, Vol. 17 Issue 10, p44
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article discusses the value of a financial planner/attorney team in the management of a client's estate planning. Mistakes can be avoided if planner and attorney work together to identify, prioritize, and implement a client's estate planning objectives. Planners and attorneys increasingly see the value of working together for the benefit of mutual clients. And like any worthwhile relationship, it takes effort. If there is a first step in establishing a successful working relationship, it may be to acknowledge the differences between the professions. Certified financial planner Gary Howard says the most fundamental distinction is that while planners look to build relationship-oriented, long-term alliances with clients, estate planning attorneys generally have task-based, short-term relationships with their clients. Other differences, from how attorneys and planners market their practices to how they are compensated, can complicate the working relationship, but planners and attorneys alike report those differences can be managed easily with a little mutual respect. Most attorneys welcome a financial planner as an important link between the attorney and the client. But the biggest frustration planners and attorneys share is procrastination on the client's end.
ACCESSION #
14706869

 

Related Articles

  • MARKETING TO CONSUMERS: Attracting Your Ideal Client by Focusing on Topics of Interest. King, Rebeca // Journal of Financial Planning;Mar2010, Vol. 23 Issue 3, Special section p1 

    The article offers information on the marketing strategy for financial planners, which is focusing the topics of interest to attract the ideal clients. It mentions that the personal finance topics in which the consumers are interested in are usually retirement planning, budgeting and money...

  • The Efficacy of Life Planning Communication Tasks in Developing Successful Planner-Client Relationships. Anderson, Carol; Sharpe, Deanna L. // Journal of Financial Planning;Jun2008, Vol. 21 Issue 6, p66 

    • This article is an excerpt from Research: Communication Issues in Life Planning: Defining Key Factors in Developing Successful Planner-Client Relationships, a white paper recently published by FPA Press. The study is based on a survey of financial planners and their clients. • The...

  • Clearing the Bar. Korn, Donald Jay // Financial Planning;Nov99, Vol. 29 Issue 11, p173 

    No abstract available.

  • Financial Life Planning: Moving to Q2 Inquiry. Diliberto, Roy; Anthony, Mitch // Journal of Financial Planning;Jan2003, Vol. 16 Issue 1, p34 

    This article illustrates how financial planners serve clients' interest when developing an estate plan. In the financial planning model, shown in Figure 1, it seek to help the client in the areas of asset management, risk management, debt management, tax planning, estate planning and...

  • Guarding the Fortress. DeFrancesco, Roccy // Financial Planning;Mar2005, Vol. 35 Issue 3, p102 

    Provides U.S. financial advisers with some options to protecting their wealthy client's marital home or personal residence from creditors. Factors to consider when devising a plan to protect a client's personal residence; Information on several real estate laws which could protect personal...

  • Flying Blind. Kautt, Glenn G. // Financial Planning;Mar2006, Vol. 36 Issue 3, p37 

    Examines the factors that should be consider in financial planning. Information on how financial advisers can reduces the odds of a financial planning crash; Explanation on the similarities between financial planning and flying; Details of the process called formal estate planning analysis.

  • on the road.  // Financial Planning;Oct2006, Vol. 36 Issue 10, p30 

    The article presents a calendar of events related to financial planning. The Schwab Institutional's Impact 2006 Conference will be held on November 5-8 at the Washington convention Center. The DI & LTC Insurers' Forum is happening on October 6-8, 2006 in Orlando, Florida. The National...

  • This Thanksgiving, start making plans for the future. Rake, Steven P. // Indianapolis Business Journal;9/29/2008, Vol. 29 Issue 30, p22A 

    The article offers tips for parents and adult children on issues concerning financial planning in the U.S. It highlights the importance of estate planning for a person's wealth. It discusses how children and parents could open a conversation to meet basic living expenses, as well as considering...

  • The neglected client. Andrews, Scot // Money Management;6/7/2007, Vol. 21 Issue 20, p16 

    The author reflects on giving financial advice to clients below 40 years old in Australia. He noted that there is something wrong in the industry as planning for younger clients focuses on investment options, rather than advanced financial strategies. He contends that such clients are being...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics