The Advisor's Guide to Estate Planning

Eric Negron | Forefront Wealth Partners

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Matt and Ariel chat with Eric Negron, the CEO of ForeFront Wealth Partners, about all things estate planning and why he's a big fan of it.

  • Eric's journey:
    • Originally in retail, his finance degree led him to financial services.
    He emphasizes learning from a missed promotion and highlights his passion for financial planning.
    • Estate planning 101: Early
      • on, he saw the importance of estate planning through a partnership with a top producer. He talks about the role of lawyers and how understanding family dynamics is key.

      Why Encore?

      • FinTech competition is heating up: Eric acknowledges the competition in the estate planning space, especially with FinTech solutions.
        • Choosing the right partner:
          • Company culture matters to Eric. He chose Encore because of Matt's character and their shared passion for simplifying estate planning.
          • Making it easy: He criticizes overcomplicating things and emphasizes the importance of getting clients talking about this crucial topic.

            • How to bring up estate planning with clients:

            • Embrace the opportunity: Eric thinks advisors should definitely offer estate planning.
              • Making it seamless: FourFront informed clients, integrated it into their existing process, and addressed concerns like lack of knowledge and cost.

                • Legal stuff:

                • Don't forget the lawyers: Eric stresses consulting with a compliance team and using clear legal language when partnering with attorneys.

                  • Pricing:

                  • Shop around: He offers to share their pricing guide and emphasizes researching local attorney fees.
                    • FourFront's package deal: Their service includes streamlined processes, attorney fees, and advisor time.

                      • Why estate planning is valuable:

                      • Knowledge is power: Eric highlights the information gathering involved, giving clients a clear picture of their financial situation.

                        • Turning estate planning into new clients:

                        • Social media magic: Eric suggests using Facebook to connect with potential clients.
                          • Partnerships: He also sees potential in collaborating with non-estate planning attorneys for referrals.

                            • The bottom line:

                            • Big impact: Partnering with Encore has brought FourFront $20 to $40 million in additional assets under management.
                              • More than just money: Offering estate planning attracts clients who might not meet investment minimums and builds brand recognition.

                                • Closing thoughts:

                                • Don't be afraid to talk about it:
                                  • Eric encourages advisors to overcome their hesitation regarding estate planning conversations and embrace the resources Encore provides.
                                • Eric is open to connecting with other advisors.

                                  • Check out Eric's podcast at https://forefrontan.com/davidadvisormovement/

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