TRAP: The Real Adviser Podcast 69 - The Couples Conundrum
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Apr 24, 2025 The hosts dive into the complexities of pension legislation and client concerns, emphasizing the need for clear communication. They highlight evolving tax allowances and upcoming inheritance tax changes that could impact investors. Marketing strategies in financial planning take center stage, showcasing the balance between service and sales. Additionally, emotional intelligence in managing client relationships, especially among couples, is discussed, revealing the intricate dynamics of financial decision-making in households. A blend of personal insights and professional advice keeps the conversation engaging.
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Elderly Client's New Relationship Challenge
- Alan Smith shared a story of working with an elderly client whose lifestyle changed dramatically after finding a young partner. - They navigated the challenge carefully, recognizing the vulnerabilities and emotional complexity involved.
Find the Chief Money Officer
- Identify the chief money officer (CMO) in a couple early to tailor communications effectively. - Be aware of differing financial attitudes, literacy, and spending habits within couples.
Manage Divorced Clients Separately
- Recognize that divorced clients usually separate their finances resulting in separate advisor relationships. - Accept that sometimes clients desire a clean break even if it means losing one party.
