Eldercare Expert and professional speaker to financial advisors, Bob Mauterstock, has released a new guide to help financial advisors retain their current clients called, The Financial Advisors Guide to Organizing and Structuring Family Meetings: How to Retain the Next Generation of Your Current Clients.
Most advisers have been well-trained to do retirement planning, investment management and education funding. However, few have the skills to help their clients (or their parents) deal with all the issues of aging. Holding a family meeting can be one way to do that. A family meeting is an excellent way to get the family together to discuss important issues that need to be resolved
The meeting should include all of the adult children and both parents if possible. It is important to have a facilitator for the meeting that has no emotional attachment to any decisions which will be made. In many cases, this may be the financial adviser.
Most families have never before gathered together as a group to discuss critical family issues. A family meeting will probably be the first time they sit down together with a specific agenda and an outside facilitator who will direct their conversation.
Mauterstock adds, “Financial Advisors who have been in business more than ten years may begin to experience the loss of valuable clients and their assets due to death. When those valuable clients pass away, their assets move to another advisor 94% of the time. To avoid the loss of these valuable assets, financial advisors should establish a plan to create a strong relationship with the children of their best clients. One of the best ways I’ve learned to accomplish this goal is to help your older clients hold family meetings to discuss the critical issue of aging with their adult children.”
For over 30 years Bob Mauterstock was a financial advisor to hundreds of families in Connecticut. Bob became a registered investment adviser in 1982 and achieved the designation of Certified Financial Planner® in 1987 and he became certified in long-term care in 2005.
Bob retired at the end of 2009. For the last ten years of his practice he was the CEO of KR Wealth Management in Farmington, Connecticut. Bob specialized in retirement income planning, long-term care planning and investment management.
As an eldercare expert, he now speaks to groups all over the country regarding the importance of creating a dialogue between seniors and their adult children about the critical issues related to aging. He has been interviewed on radio and TV stations as well as appearing in the press numerous times.
The author of two books, Passing the Torch: Critical Conversations With Your Adult Children and CFP® Safeguard: How to Protect Yourself Your Practice and Your Aging Clients Who Have Diminished Mental Capacity, he trains, coaches and speaks to financial advisors on how advise their clients on eldercare issues.
To access the free guide, visit http://www.Plan4LifeNow.com