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Advisors often avoid discussing wealth transfer opportunities with clients due to potential concerns around competency, initial intent, and client privacy and trust. However, it's crucial to address the topic to help clients achieve their financial goals. Advisors must develop their competencies, position themselves to handle clients' entire financial picture, and understand clients' family dynamics to effectively communicate the value of wealth transfer strategies.
By Red RockAdvisors often avoid discussing wealth transfer opportunities with clients due to potential concerns around competency, initial intent, and client privacy and trust. However, it's crucial to address the topic to help clients achieve their financial goals. Advisors must develop their competencies, position themselves to handle clients' entire financial picture, and understand clients' family dynamics to effectively communicate the value of wealth transfer strategies.