Wealth Psychology Consulting – For Advisors to Families
Serving the following professionals and their firms:
- Accountants
- Attorneys
- Family Office Managers
- Financial Advisors
- Investment Bankers
- Wealth Managers
- Other professionals who serve high net worth/enterprising families
In their groundbreaking research, Williams and Preisser (2003) found that of 3,250 families transitioning wealth to heirs the failure rate was 70% yet less than 3% of failures were due to errors by professional advisors (accountants, attorneys, financial advisors). A very high percentage of these advisors performed extremely well. The research indicated that failures transferring wealth were due to inadequate family communication and preparation of heirs.
Through coaching, training and interactive workshops we help advisors and their firms gain an edge over competitors in serving enterprising families. Clients will reap greater value, better execution of plans and a wider range of skills from their advisors.
Training advisors to families in several areas:
- Facilitating family meetings
- Identifying common intergenerational wealth transfer pitfalls
- Marketing techniques to reduce skepticism, increase trust and land new clients
- Strengthening "soft" skills – improving client relationships through enhanced listening skills and empathic communication
- Cultivating and maintaining trust
- Rebuilding strained relationships with clients before they leave the firm
- Successfully discussing fees – the win-win for both advisor and client
- Referring to and working with psychological therapists
We will also custom design educational forums for your firm to be presented to your clients. We can deliver these independently or cooperatively with your firm’s professionals. Educational forums add value for existing clients and are also a great marketing opportunity for the firm to invite potential clients.