“Coming together is a beginning. Keeping together is progress. Working together is success.”
With market uncertainties and constant changes, it has become increasingly important to remain dedicated to providing the most efficient guidance to our clients. As financial advisors, our duty is to place clients’ best interests ahead of our own. What so many do not realize is that we must also educate our clients on their responsibilities in providing benefits to other members of their families.
Oftentimes we focus primarily on our client’s personal requests and building a client-specific, robust financial plan. Yet we may overlook dedicating adequate attention to their duties as a fiduciary. A vital part of a financial advisor’s responsibility is to guide our clients through the planning process with recommendations suggested based on the current market. By applying this tactic to the relationships between clients and their beneficiaries, we can assist them in making decisions in the best interest of the beneficiary.
The goals of the beneficiary