Use this worksheet to identify the gaps in your practice that prevent you from becoming a true Legacy Wealth Advisor. Once you have identified the gaps, utilize the Thornburg Business Plan worksheet to determine how you will eliminate the gaps.
Results for: Managing Legacy Wealth
Complete the fields to document the goals you have for various aspects of your practice. Completing this Workbook, in addition to the Practice Gap Analysis worksheet, will help inform your Business Plan, and provide you with a roadmap to expand your practice to one of a legacy wealth manager.
This guide will help position you as a trusted legacy wealth advisor. It enables you to ask the types of questions that will provide you with the information and insight you need to recommend the best approach for your clients. Use this guide with the Family Meeting and Ethical Will worksheets to make the process simple and straightforward.
In this first segment of the All in the Family: Managing Legacy Wealth program, we will delve into how to address your practice gaps.
In this second segment of the All in the Family: Managing Legacy Wealth program, we will delve into the power of a vision.
In this third segment of the All in the Family: Managing Legacy Wealth program, we will delve into a new standard for you and your team.
In order to "close the gaps" that are preventing you from operating a true Legacy Wealth Management practice, you need a plan. The plan will be based on the goals you identified in your "Vision Worksheet" and will include tactics that are based on the gaps you identified in your "Gap Analysis." It is important to prioritize the goals you want to achieve and the gaps you want to close. If you take on too much at once, it will seem overwhelming and may cause you to abandon the process.
An "Ethical Will" (or "Family Legacy Letter") is the product of an ancient tradition in which individuals share their life story, personal values, beliefs, blessings, and advice with future generations. According to Dr. Barry K. Baines, the author of Ethical Wills, "legal wills bequeath valuables, ethical wills bequeath values."
A checklist to help with the family meeting.
This program consists of four presentations with multiple worksheets, checklists, and brochures. It is designed to help advisors transform their businesses into legacy wealth practices and create organic growth by capturing more assets with existing clients, cultivating relationships with family members (thereby increasing retention upon wealth transfer), and generating new business.
