The concept of the Transitional Support Advisor came about after more than a decade of providing mediation, business valuation, neutrally appointed, by Judges across multiple states and forensic accounting services in thousands of dissolution matters.
Miami, FL (PRWEB) January 20, 2016
Attorneys and other divorce professionals who work with financially inexperienced clients, are invited to learn how to help them build a solid financial foundation for life after divorce by reading the new article: “Transitioning the Financially Inexperienced Divorce Client to Self-Sufficiency” by QDRONow.com founder Dr. Robert Hetsler Jr., J.D., CPA, CVA, FCPA, CFF, MAFF, CMAP.
Dr. Hetsler’s new article, which is available on Quickbuzzread.com at http://quickreadbuzz.com/2016/01/13/transitioning-the-financially-inexperienced-divorce-client-to-self-sufficiency, highlights the following key points that are relevant to all professionals involved in marital dissolution work – especially attorneys:
- Once a final settlement is reached, the often daily interaction between a client and her or his professional team abruptly ends.
- While an attorney may provide some instruction or referrals, these clients often require more “hands on” support to successfully meet the challenges of their post-divorce life, such as how to re-invest divided retirement accounts, manage business interests, sell or maintain real property, etc.
- These clients cannot turn to financial advisors who jointly served them and their spouse while they were married. This combined with the shock of having to re-build their financial life can be overwhelming and terrifying.
- For such clients, accessing the services of a professional who can assist with the transition to financial independence -- but without costing a small fortune in hourly fees -- makes a transformative difference between success and failure in the months and years following divorce.
- This requires the creation of a new role called “Transitional Support Advisor”. This independent professional ideally possesses a broad background of expertise in multiple disciplines including legal, accounting and finance, and has the knowledge, experience and, most importantly, solid, national referral connections to both understand and assist the non-financial spouse.
“The concept of the Transitional Support Advisor came about after more than a decade of providing mediation, business valuation, neutrally appointed, by Judges across multiple states and forensic accounting services in thousands of dissolution matters,” writes Dr. Hetsler, whose firm QDROnow.com specializes in preparing QDROs for divorce attorneys across the country, and which recently entered into a new referral relationship with LionsBridge Wealth Management, LLC, which utilizes Charles Schwab & Co. as their primary custodian to provide divorcing clients with access to timely financial management expertise regarding their qualified retirement accounts, as well as any other non-retirement assets, including but not limited to emergency funds, CD’s, Bonds and college savings for the minor child(ren) or life insurance to secure child(ren) support or alimony.
Dr. Hetsler, who is in the final stages of earning the PFS designation from the AICPA that will certify his competence in all areas of finance, further highlighted the Transitional Support Advisor is in place to work alongside attorneys in the service of their mutual client; not to replace them.
“It is very important to emphasize that the Transitional Support Advisor (“TSA”) is not providing specific advice – legal or otherwise,” adds Hetsler. “Instead, this professional’s primary role is two-fold: to function as a relationship manager to help the client get back on his or her feet, and make appropriate referral introductions based on the client’s specific needs. Ideally, the role of TSA is filled by the same individual who provided professional services to the client during the divorce, as this capitalizes on an existing relationship”.
It is extremely difficult to secure the services of someone with Dr. Hetsler’s skill set that can value a business, identify hidden assets, determine actual income of someone self-employed, provide expert witness testimony and also provide the financial planning and referrals to insurance provider and also direction on the purchase or liquidation of real estate since he is also a licensed real estate agent. Unless trial testimony is required, Dr. Hetsler’s role as the TSA can be one that is long distance in that all work, including referrals, will be made remotely so that each client receives the full benefit of Dr. Hetsler’s personal relationships with insurance agents, realtors, money managers, insurance agents, auto insurance, tax professionals and any other type of professional.
For all other information, including media inquiries, contact Dr. Hetsler at 844-234-QDRO (7376), email Robert(at)qdronow.com or visit http://www.qdronow.com/divorcefinancialplanning.