April 2021 Issue: Financial Triage can help your Clients when they need you the most - and Increase your Value!-Financial Triage can help your Clients when they need you the most

Financial Triage can help your Clients when they need you the most - and Increase your Value! by Ed Slott

Pdf Summary

Financial advisors have the opportunity to provide immediate value to clients during times of financial worry, such as in the current global pandemic. By collaborating with other professionals and prioritizing client needs, advisors can solidify their position as a valued advisor for years to come. Advisors should identify clients who are in greatest need and reach out to offer help. For clients who have become sick, advisors should review their estate plans and ensure that beneficiary forms are up to date and reflect the latest tax law changes. Advisors should connect with other professionals, such as estate planning attorneys and CPAs, to provide comprehensive assistance to clients. Additionally, advisors can help survivors by assisting them in locating beneficiary forms, determining beneficiary and payout periods, and offering guidance on the new post-death payout rules. By going the extra mile for clients during times of financial distress, advisors can strengthen relationships and provide a lasting impact on their clients' financial well-being. Ed Slott, a nationally recognized IRA distribution expert, urges advisors to step up and be there for their clients when they need it the most.

Keywords

Financial advisors

immediate value

clients

financial worry

global pandemic

collaborating with professionals

client needs

valued advisor

estate plans

beneficiary forms