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The Eight Core Principles of Elite Wealth Planning - Episode 25
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Elite-level wealth planning is characterized by eight key traits—all of which the affluent want to see in order to work with you. Build a great financial advisory business—and a great life!
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In our experience, top financial advisors and wealth managers across the country adhere to the following eight core principles. Ask yourself how well you stack up in each area.
Why? Because increasingly, the affluent and the super rich are recognizing that they want to see these traits in the professionals they vet and work with. If you don’t pass muster in these areas, you’re not nearly as likely to attract discerning affluent clients or retain them over the long term.
Elite advisors’ planning is:
1. Flexible. Elite wealth planning is able to change and adapt to clients’ evolving circumstances and the shifting financial and legal environments.
2. Discreet. A high degree of discretion is a requirement for any professional working with the wealthy.
3. Transparent. It’s important for each solution to be as transparent as possible and available for scrutiny by appropriate authorities.
4. Cohesive. While the legal strategies and financial products of elite wealth planning can be employed on a stand-alone basis, a shared philosophy and a certain degree of integration should inform all wealth planning.
5. Risk-sensitive. It’s critical that you (and your clients) understand the level of assertiveness associated with a particular solution and consider it in the context of your clients’ capacity for risk.
6. Cost-effective. Elite wealth planners work with clients to balance the benefits of a recommended course of action with both its financial and psychological costs.
7. Explicit. You bear the responsibility of communicating with clients and their other trusted advisors in a way that suits their personal style and allows them to make informed decisions.
8. Legitimate. Wealth planning should never incorporate tools or techniques that are—or may be perceived to be—illegal or unethical.
So, check out the latest episode—and leave a comment. What steps are you taking today to deliver wealth planning that is at the elite level, or close to it? In which of these eight areas might you need to shore up your efforts in order to better attract, serve and retain highly desirable affluent clients?
John Bowen
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ABOUT JOHN BOWEN
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John Bowen is the founder and CEO of CEG Worldwide, the world’s leading coaching firm for financial advisors. For more than 19 years, Bowen and his team have had the privilege of coaching elite financial advisors to build simple, elegant wealth management businesses that serve their affluent clients extremely well while building lives of significance for themselves, their teams and their loved ones.
Before founding CEG Worldwide, Bowen worked directly with affluent clients as a financial advisor for 21 years, managing up to $2 billion in assets before selling his firm. Following the sale of his firm, he became CEO of Assante Capital Management. During this time frame, Assante more than tripled its assets under management to more than $25 billion.
Bowen is widely recognized as a leader in the financial services industry. Over three decades, he has delivered hundreds of keynote presentations and workshops to thousands of top advisors around the world. For more than 20 years, he wrote a highly acclaimed monthly column for the leading U.S. financial services trade journal, Financial Planning. And he is the author or co-author of more than a dozen books, including The Elite Wealth Manager: Delivering Exceptional Value, Achieving Exceptional Success; Your Optimal Financial World: How Driven Entrepreneurs Can Benefit from High-Performing Virtual Family Offices; The Wealthy Client Pipeline: Leveraging Thought Leadership to Build Profitable Partnerships with Attorneys and Accountants; and Breaking Through: Building a World-Class Wealth Management Business.
What we do and who we are
Partnering with you to accelerate your success is what we do.
Helping you build an amazing life of significance is who we are.
Let’s connect on ...
-----------------------
-----------------------
In our experience, top financial advisors and wealth managers across the country adhere to the following eight core principles. Ask yourself how well you stack up in each area.
Why? Because increasingly, the affluent and the super rich are recognizing that they want to see these traits in the professionals they vet and work with. If you don’t pass muster in these areas, you’re not nearly as likely to attract discerning affluent clients or retain them over the long term.
Elite advisors’ planning is:
1. Flexible. Elite wealth planning is able to change and adapt to clients’ evolving circumstances and the shifting financial and legal environments.
2. Discreet. A high degree of discretion is a requirement for any professional working with the wealthy.
3. Transparent. It’s important for each solution to be as transparent as possible and available for scrutiny by appropriate authorities.
4. Cohesive. While the legal strategies and financial products of elite wealth planning can be employed on a stand-alone basis, a shared philosophy and a certain degree of integration should inform all wealth planning.
5. Risk-sensitive. It’s critical that you (and your clients) understand the level of assertiveness associated with a particular solution and consider it in the context of your clients’ capacity for risk.
6. Cost-effective. Elite wealth planners work with clients to balance the benefits of a recommended course of action with both its financial and psychological costs.
7. Explicit. You bear the responsibility of communicating with clients and their other trusted advisors in a way that suits their personal style and allows them to make informed decisions.
8. Legitimate. Wealth planning should never incorporate tools or techniques that are—or may be perceived to be—illegal or unethical.
So, check out the latest episode—and leave a comment. What steps are you taking today to deliver wealth planning that is at the elite level, or close to it? In which of these eight areas might you need to shore up your efforts in order to better attract, serve and retain highly desirable affluent clients?
John Bowen
=====================
ABOUT JOHN BOWEN
=====================
John Bowen is the founder and CEO of CEG Worldwide, the world’s leading coaching firm for financial advisors. For more than 19 years, Bowen and his team have had the privilege of coaching elite financial advisors to build simple, elegant wealth management businesses that serve their affluent clients extremely well while building lives of significance for themselves, their teams and their loved ones.
Before founding CEG Worldwide, Bowen worked directly with affluent clients as a financial advisor for 21 years, managing up to $2 billion in assets before selling his firm. Following the sale of his firm, he became CEO of Assante Capital Management. During this time frame, Assante more than tripled its assets under management to more than $25 billion.
Bowen is widely recognized as a leader in the financial services industry. Over three decades, he has delivered hundreds of keynote presentations and workshops to thousands of top advisors around the world. For more than 20 years, he wrote a highly acclaimed monthly column for the leading U.S. financial services trade journal, Financial Planning. And he is the author or co-author of more than a dozen books, including The Elite Wealth Manager: Delivering Exceptional Value, Achieving Exceptional Success; Your Optimal Financial World: How Driven Entrepreneurs Can Benefit from High-Performing Virtual Family Offices; The Wealthy Client Pipeline: Leveraging Thought Leadership to Build Profitable Partnerships with Attorneys and Accountants; and Breaking Through: Building a World-Class Wealth Management Business.
What we do and who we are
Partnering with you to accelerate your success is what we do.
Helping you build an amazing life of significance is who we are.
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