The Perfect RIA Strategic Client Onboarding and Enhancing Tax-Related Value
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May 3, 2024 Discussion on optimizing client meetings, communication, and value-driven planning. Importance of structured client onboarding process and key meeting protocols. Tax planning strategies and collaborative efforts with CPAs for holistic financial advice. Emphasis on effective communication for tailored solutions and enduring client relationships.
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Structured Client Onboarding Matters
- Follow a structured client onboarding process to secure success for both advisors and clients.
- Approach onboarding with a white glove experience, ensuring clients don't have to figure things out on their own.
Focus Meetings on Key Areas
- Start client meetings laser focused on one financial area, like estate planning, even if prior documents exist.
- Use net worth and beneficiary reports to confirm clients' wishes are properly aligned with their estate plans.
Maximize Tax Planning with CPAs
- Collaborate closely with CPAs to create forward-looking 5 to 10 year tax plans that address 'what ifs'.
- Obtain client authorization letters to streamline information flow directly from CPAs and improve client service.