If advisors don’t understand estate planning as well as they think they do (and tell their clients they do) then why do we as estate planning attorneys ingratiate ourselves to them by perpetuating the myth that “they are the quarterbacks” who should be in control of the planning? That may be a good financial plan, but it’s not a good plan for the family.
Many advisors simply don’t know what opportunities to look for that would indicate it’s time to bring in an estate planner.Financial advisors and estate planners swim in opposite ends of the same pool, and have quite a bit to offer one another, yet they too rarely interact. According to Rashad Wareh, a partner at Kozusko Harris Vetter Wareh Duncan, LLP, the impetus is on advisors to reach out. In his presentation at the recent IMCA ACE Conference in San Diego, he explained “Financial advisors are the quarterbacks. They see the clients the most.”However, many advisors simply don’t know what opportunities to look for that would indicate it’s time to bring in an estate planner. Wareh offers six basic client scenarios of which advisors should take note and one example of a possible technique an estate planner could employ to benefit that client.
Source: Six Times A Financial Advisor Should Call An Estate Planner