Pacific Divorce Management of San Diego and Michelle Smith of New York-based Source Financial Advisors said Wednesday that advisors can use their divorce financial planning methods now via a franchise arrangement.
As two leaders in the divorce financial planning field, “We have taken intellectual property from both businesses and created one set of best practices, which we believe will be very appealing to advisors across the country,” said Justin Reckers, founder and CEO of Pacific Divorce Management, in a press release.
According to the new partners, divorce affects some 2 million people in the United States every year. “If a couple never had children or their children are grown, money is the only thing to argue about in the divorce proceedings,” Reckers said.
“Knowing that Justin and his team have taken a deep dive and really own the space in California, as I have and do in New York, creates a kind of bi-coastal nirvana for other advisors who may wish to join us,” said Michelle Smith, CEO and founder of Source Financial Advisors, in a statement.
A key factors mention when discussing their lack of success in the divorce financial planning niche is that they fear they’ll make a mistake, which leads them to turn down referrals, Smith notes.