October 31, 2023

Advisor-Driven Estate Planning Solutions with Matt Morris

39 minutes

Episode 018: The traditional approach to estate planning involves working with an attorney. However, clients often procrastinate or delay creating an estate plan due to the discomfort of discussing end-of-life decisions with a stranger. While technology has significantly transformed and simplified the estate planning process, this alone has not solved the problem.

In this episode of Connected, Kyle is joined by Matt Morris, CEO of EncorEstate Plans. They discuss the importance of estate planning and the challenges people face in getting it done. Matt explores the options available for estate planning, including DIY, working with an attorney, and the advisor-driven approach. The conversation highlights the role of technology, such as AI, in making estate planning more efficient and accessible. Lastly, Kyle and Matt discuss the future of wealth management and the importance of advisors in providing comprehensive services to clients.

Join us as we discuss:

[02:23] - Matt's background and journey to starting EncorEstate Plans.

[06:24] - The challenge of comparing oneself to other CEOs.

[11:20] - The importance of vulnerability and connection in leadership.

[12:35] - Insights Matt gained from his sabbatical.

[18:36] - Why estate planning is gaining popularity at the moment.

[22:27] - The benefits of integrating financial advisors into the estate planning process.

[25:42] - Do it yourself vs. advisor-driven planning.

[30:30] - Why advisors are the quarterbacks of wealth management in the future.

[31:49] - The role of AI.

[33:31] - Matt's experience with e-biking and its benefits.

Key Takeaways

Estate planning is a critical but often overlooked aspect of financial planning, with many people not having a plan in place.

Technology has made estate planning more accessible, but many people still prefer to work with a trusted advisor who can guide them through the process.

Financial advisors have a unique opportunity to integrate estate planning into their services and provide a comprehensive client experience.

The future of the wealth management industry lies in advisors acting as quarterbacks, leveraging technology to provide a full range of services to their clients.

Quotes

"When we have a worthwhile project that is interesting and compelling, and people can do it with people they enjoy, the rest of it kind of takes care of itself." ~ Matt Morris

"We believe that financial advisors should be integrated into the state planning process without practicing law. And if they can help drive the client experience within the balance of the law, then they can control the experience. The client wins, and the advisor is going to win in so many ways." ~ Matt Morris

"The future of financial advice isn't going to be asset management alone. As AI is helping us accomplish where that is going, just that one piece is just not going to be enough. And to be relevant in the future, it's going to have to be comprehensive." ~ Matt Morris

Links

Matt Morris on LinkedIn

Matt Morris on Twitter

EncorEstate Plans

Nitrogen Wealth

Helios Quantitative Research

Aaron Klein

LegalZoom

Matt Pistone

Connect with our hosts

Milemarker.co

Kyle on LinkedIn

Jud on LinkedIn

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By Milemarker

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