“This turnkey business solution trains franchisees in the entire business cycle, from finding clients, to advising them through the divorce, to establishing a continuing business relationship with clients post-divorce,” Reckers said.
San Diego (PRWEB) April 09, 2014
Pacific Divorce Management and Michelle Smith of Source Financial Advisors LLC today announced a partnership aimed at helping more financial advisors adopt their proven divorce financial planning methodologies.
“As the two nationwide leaders in the divorce financial planning business, we have taken intellectual property from both businesses and created one set of best practices, which we believe will be very appealing to advisors across the country,” said Justin Reckers, founder and CEO of Pacific Divorce Management.
“Knowing that Justin and his team have taken a deep dive and really own the space in California, as I have and do in New York, creates a kind of bi-coastal nirvana for other advisors who may wish to join us,” said Michelle Smith, CEO and founder of Source Financial Advisors.
TWO NATIONAL LEADERS UNITE
Reckers and Smith have both been successful in building profitable divorce financial planning niches in their respective states. Reckers’ firm, Pacific Divorce Management, is headquartered in San Diego. Smith’s firm, Source Financial Advisors, is located in New York City.
Smith is one of the most sought after divorce financial specialists in the country. She is a member of the Institute for Divorce Financial Analysts, a holder of the Certified Divorce Financial Analyst® credential, a CERTIFIED FINANCIAL PLANNER™ professional and a Divorce Mediator. A regular contributor to national and financial media, Michelle was co-author of the book Divorce & Your Finances written for Wachovia Securities financial advisors. Before starting Source Financial Advisors, Smith worked as a financial advisor on Wall Street since 1986 at firms Merrill Lynch, Paine Webber and Wachovia Securities. She has embraced a leadership role in the growing world of women financial advisors. She spoke at the Barron’s Top Women Advisors Summit in Palm Beach in December 2013 and is slotted to speak on a panel at the Barron’s upcoming Top Independent Advisors Summit in Phoenix later this month. Smith has connections throughout the female advisor community, which Reckers considers to be a very good target niche for divorce financial planning franchise sales.
A thought leader in the field of Applied Behavioral Finance, Reckers is in demand as a writer, speaker and consultant in the financial services industry. He is trained in Family Law specific Mediation and Collaborative Divorce and regularly offers continuing education for legal, mental health and financial professionals on the intricacies of finances in divorce. He is a board member of the Institute for Divorce Financial Analysts, Collaborative Practice California and the Collaborative Family Law Group of San Diego. A CERTIFIED FINANCIAL PLANNER™ professional and Certified Divorce Financial Analyst®, he is an active member of the Association of Family and Conciliation Courts, the International Academy of Collaborative Professionals the Financial Planning Association, the American Bar and San Diego County Bar Association Family Law Sections. Reckers has connections throughout the legal and independent advisor communities, which Smith considers to be a real plus for the partnership.
THE LARGEST TRANSACTION IN MOST PEOPLE’S LIVES
Divorce, which affects 2,000,000 people in the United States every year, is most likely the largest financial transaction of most people’s lives. Because it is typically one of the most emotionally chaotic times of life, many people are prone to making less-than-optimal decisions.
“If a couple never had children or their children are grown, money is the only thing to argue about in the divorce proceedings,” Reckers said.
“While legal advisers offer the structure and guidance necessary to fashion agreements, Divorce Financial Planning exists at the intersection of expert financial analysis, financial planning, and decision coaching with the unique and complicated financial intricacies of divorce in mind,” Smith added. “Divorce Financial Planners offer the creative options, financial analysis and strategies necessary to help clients obtain the most financially advantageous settlement possible and transition into post-divorce life with a game plan for financial success,” she said.
JURISDICTIONAL DIVORCE ISSUES, RESOLVED
With Reckers in California and Smith in New York, they have a combined expertise in jurisdictional divorce issues across the United States.
“Michelle’s in an equitable distribution state and I’m in a community property state,” Reckers said. “She’s in New York and I’m California. It doesn’t get any better than having experience in these two very different states. The extensive time and effort we put in to learn the jurisdictional issues across the nation will help the advisors who chose to join us as franchisees,” he said.
The divorce financial planning franchise, which is currently available in most states, offers a proven business model with total immersion training at the headquarters in San Diego for two weeks, followed by two additional days of training onsite at the franchisee’s location.
“This turnkey business solution trains franchisees in the entire business cycle, from finding clients, to advising them through the divorce, to establishing a continuing business relationship with clients post-divorce,” Reckers said. “Franchisees benefit from ongoing support from leaders in the industry, through emails, newsletters, a help desk and even onsite support with complicated or large cases, if needed,” he said.
FRANCHISE TO BOLSTER ADVISOR SUCCESS
According to Smith, one of the main reasons advisors cite when discussing their lack of success in the divorce financial planning niche is that they are scared that they are going to take their first case and make a mistake, which leads them to sometimes say no to the first referral they get.
“This is one of the primary reasons we decided to create this franchise,” Reckers said. “We want to close the knowledge gap, provide a safety net and bolster the advisor’s confidence level. When advisors invest in this franchise, they will receive a turnkey business model with an accelerated time frame which does not require them to cultivate and develop this business on their own,” Reckers said.
“Justin and I forged this path in two markets when everyone told us it couldn’t be done,” said Smith. “Having the benefit of two nationwide experts with all these years of expertise can cut off an enormous amount of training and development time – perhaps as much as two years, which is huge,” said Smith.
Reckers believes that the financial decisions made during a divorce will very likely be the biggest and most difficult decisions the parties will ever make. According to its website, Pacific Divorce Management’s mission is to provide divorce financial planning services that focus on long-term well-being for the client by mitigating the devastating financial effects that are often the result of divorce.
Financial advisors who are interested in exploring the Pacific Divorce franchise opportunity may visit http://pacdivorce.com/franchise-2.
***To hear Reckers and Smith discuss their new partnership and provide additional insights for financial advisors, visit http://www.audioacrobat.com/email/EZRXxkmpN ***
ABOUT PACIFIC DIVORCE MANAGEMENT
Based in San Diego, Pacific Divorce Management helps individuals and couples address the financial aspects of divorce in a civilized, equitable and efficient manner by providing expert divorce financial planning and advice. The firm was established by several successful Certified Divorce Financial Analysts who have tested the franchise formula “in the trenches” for many years. The turnkey franchise offering is available to financial planning professionals in selected states. In addition to offering the franchise to advisors in the United States, Pacific Divorce is currently developing a partnership with a large independent wealth management firm in Canada that will allow them rights to use the business model and turnkey materials with their field force in Canada. To watch an educational video with CEO Justin Reckers: http://tinyurl.com/justin-reckers-wsj-video. For more information, please visit http://www.PacDivorce.com.
ABOUT SOURCE FINANCIAL ADVISORS
Based in New York City, Source Financial Advisors LLC offers experienced wealth management solutions and unique specialty financial practices that help clients prepare to meet every financial opportunity and challenge. Milestones and transitions – planned or unplanned – require a holistic wealth management approach and the expertise of financial professionals who have vast experience in navigating life’s curves. The firm provides their comprehensive financial transition services to individuals working through the myriad complexities of a divorce, sophisticated intergenerational wealth transfer issues or the sale or liquidation of a privately held business. To watch an educational video with CEO Michelle Smith: http://tinyurl.com/michelle-smith-dow-jones-video. For more information, please visit http://www.SourceFA.com.