Helping clients prepare assets for heirs will not be enough going forward. Advisors need to help clients prepare heirs for assets.
Pasadena, California (PRWEB) December 10, 2013
Diane K. Doolin, Founding Director of Institute for Preparing Heirs in Pasadena, CA, was one of a select number of financial advisors asked by Barron’s magazine to be a presenter at the eighth annual Barron’s Winner’s Circle Top Women Advisors Summit. The conference was held to promote best practices and generate new ideas across the industry. The invitation-only conference was held at The Breakers in Palm Beach, FL, from December 4-6, 2013.
Ms. Doolin spoke on Going Beyond The Money: Becoming The Trusted Advisor. In her presentation, Ms. Doolin focused on the non-financial challenges successful families face when transferring wealth to the next generation and the opportunities advisors have to help families prepare for a successful wealth transition.
“Helping clients prepare assets for heirs will not be enough going forward. Advisors need to help clients prepare heirs for assets,” said Ms. Doolin. “Advisors must position themselves to connect with multigenerational families of wealth in order to retain assets under management and ensure the longevity of their own businesses.”
In addition, she offered a new 10-question Trusted Advisor Self-Checklist by which advisors can self assess their knowledge about the basics of money management and the non-financial issues impacting a successful generational wealth transfer. “If we don’t talk to our clients about the risks and opportunities of preparing their heirs to receive and management wealth, who will?” said Ms. Doolin.
For a free whitepaper on Beyond The Money, The Advisor’s Need For A New Conversation With Affluent Families, visit http://www.preparingheirs.com.
Institute for Preparing Heirs is a service firm and does not sell any financial products and does not provide any legal, tax or investment advice. Institute for Preparing Heirs was formed to bring advisors and families closer together by providing advisors with training, tools and on-going support to prepare families for successful generational wealth transfer. The company is headquartered in Pasadena, CA. For further information about Institute for Preparing Heirs, please visit http://www.preparingheirs.com.