A just-released FUSE Research report published in conjunction with WealthManagement.com confirms that advisors continue to be on the hunt for business-building ideas and tools. For maximum effectiveness, these approaches also need to be congruent with the business shift toward goal-oriented comprehensive wealth management. The hard part is finding fresh, relevant, and compelling ideas.
Disability financial planning is a specific and personal financial goal that is incredibly meaningful for about 25% of the population. It can be a starting point for new client relationships and a way to deepen existing client relationships. It hasn’t been on radar for the financial services industry until very recently, in part because product and platform innovation had not caught up to the need.
The financial impact of disability can be negative and far reaching, requiring individuals to jettison their assets to qualify for benefits which only cover basic care. Families wishing to avoid that scenario and build quality of life for their disabled loved one have not historically had easy-to-implement solutions at their fingertips; their advisors have been in the same boat. To achieve a different outcome, we need a different solution.
Visible National Trust puts a turnkey disability financial planning platform – and a client prospecting and marketing opportunity – in advisors’ hands. The first step for advisors is a conversation with clients and prospects that identifies all wealth and financial goals, including this most personal one.