The Keys to Any Engagement Plan

Advisors looking forward to many more productive professional years and who have a desire to increase business value as well as maintain and increase their income, should set an important strategic goal of retaining assets that all too often are moved by adult children upon the death of their parent or parents.

Developing an engagement plan to involve the adult children of older clients is an effective way to help retain those assets, as well as foster better ties with current clients. The plan can start with educating young parents about college savings plans and financial basics, such as proper insurance coverage, and then move into more comprehensive assistance and planning with adult children.

Helping even older adult children as they enter retirement themselves is another important element of a plan for advisors with clients in their late 80s and 90s.

The keys to any engagement plan are:

Since technology will play a greater part in future relationships, especially among generations that has grown up with technology and are wedded to their smart phones, be sure that the elements of the engagement plan are delivered in ways that are in sync with the expectations and demands of the younger generations.

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