Content area
Full Text
We, as an industry, owe apologies to a few friends of mine. Both comrades lost parents this year and are in the midst of settling estates. Unfortunately, neither will be getting as much from their respective inheritances as they should. Why? Because both sets of parents, with their children's full knowledge, turned to their lawyers for their estate planning.
When I asked them separately why a financial advisor wasn't included in the process, they looked at me, puzzled. The truth was, they didn't know advisors provide such services.
Now, I have nothing against lawyers, accountants or even bankers getting involved in an estate plan. But to me, it's like fielding a football team without its quarterback. The financial advisor is that quarterback.
Unfortunately, our industry isn't managing its message well. The more I talk to investors, the more I believe this is true. People just don't know the full range of services we provide, nor do they understand...