Everyone on your Advisory Team should know the names and contact information of all of your selected Advisors (Attorney, CPA, Wealth Manager, Insurance Professional, Trust Officer, Philanthropic Professional, etc.)
This Advisory Team of yours should work collaboratively at a very high level. This is VITAL. Collaboration is when your advisors play together like an orchestra, so you can enjoy the “music of planning success.” Legal, tax, estate, financial and other facts planning are each so volatile and complex that no advisor can help you without coordinating with your other advisors. So, if collaboration is the “hot fudge” on your low-cal frozen yogurt sundae, why don’t more advisors get it?
Insight Wealth, as your Wealth Advisor will help make sure you have a highly collaborative Advisory Team in place throughout your planning process and the Results Management process year to year.
As the Client, you should authorize and direct your Advisors to collaborate. “But it will cost more!” you say. It is a fact that better planning and plan administration will cost less than a disjointed plans AND your visions, values, goals and objectives are much more likely to be met. If one of your Advisors just won’t do it—consider another Advisor.
When one of your Advisory Team members retires, dies or becomes incapacitated or a firm dissolves—stuff happens; having the entire team knowledgeable of your entire plan gives you better results when the new Advisor comes on board.
As your Wealth Advisor, we implement and utilize efficient and effective means of communication within your Advisory Team. Every Advisory on your Team gets a chance for input and keeping “in the loop” and “on the same page” when it comes to the advice you receive. Advisors, no matter how objective, interpret client comments through their own professional “lens.” Collaboration enhances the quality of information every Advisor has.
