Family Retreat Action at Clients Forever

THI Instructor and Mentor Bill Eck leads Clients Forever attendees through a simulation of the Family Retreat. Somebody is about to be handed a really big check.

Welcome THI's Newest CWC, Todd Rhine

Hilton Head Island, SC, advisor Todd Rhine has completed the requirements for the Certified Wealth Consultant designation. Today, Heritage Mentors and instructors Bill Hughes (left) and Pam Cundy (right) presented Todd his CWC certificate.

Our congratulations and best wishes, Todd.

Clients Forever Leadership Award Winner

Heritage course instructor and mentor Bill Hughes congratulates Clients Forever attendee Simone Fevola. Simone was selected by the course mentors and instructors for his outstanding leadership during small group exercises.

Experiencing Guided Discovery for the First Time

People attending Clients Forever get a hands-on introduction to each of the steps in the Heritage Process. Here, attendees Gordon and Cindy Lawlor are led through a mini-Guided Discovery by CWC and Course Mentor Pam Cundy.

Clients Forever Class, Portland, OR May 5-7

The Heritage Institute's flagship introductory course for advisors is going on this week in Portland, OR. Clients Forever introduces advisors to a six-step process through which they can develop new, deeper and more fulfilling relationships with their clients.

It’s all about understanding....

• How to build better relationships with the right clients.
• How to collaborate effectively with the clients’ other advisors.
• How to do what you want to do, the way you want to do it, with the people you want to work with, intentionally and at the highest level - every day. This is training that will help you give your best, for the right reasons, to the right people.

Surprising Information About Your Client's Children

A study worth thinking about:

According to the experts, better client relationships are the key to more income, a smaller client base,and greater peace of mind. Many advisors assume that following the death of a client, the inheritors will retain the same advisors who guided their parents or grandparents. In the overwhelming number of cases, that is not what happens.

According to a study done for Merrill Lynch Investment Managers by Prince & Associates:
“The data proves that the conventional wisdom that inheritors will work with their parents’ advisors is unfounded. Just a tiny percentage (under 1%) of inheritors remained with their parents’ primary advisors. Almost universally, inheritors go to a new advisor--someone they perceive will meet their unique needs.”

While there is indeed a substantial opportunity in the inheritors market, it’s nearly the exact opposite of what most advisors think it is. One widely held industry belief is that if the client of a loyal and competent advisor inherits a substantial sum, that client will probably continue to work with the advisor. After all, if the advisor has stuck with the client through thick and thin, then why wouldn’t the client likely choose to maintain a functional and well-developed relationship? Empirical research by Prince, however, clearly shows that the vast majority of those who inherit a substantial amount switch advisors.

Conclusion: there has never been a more critical-or more opportune-time to build strong relationships with your clients and their families.