The Shift in Planning

By Rod Zeeb

As a financial advisor, it’s important to be aware of the shift in planning that has been happening over the past decade. This shift began in the philanthropy world when the rising generation became involved and started to demand more information about the impact of their donations. This led to a focus on impact and responding to the clients’ needs. This trend then spread to financial planning, where people started to realize that their wealth is not just their money, but also includes their values and goals.

Clients began to look for advisors who would listen to them and understand their needs. This led to the rise of wealth planning, where advisors focus on the client’s values and goals as well as their financial situation. This shift then moved into the estate planning world, where the focus was previously on assets and taxes. However, with the changing tax laws, estate planners needed to shift their focus as well.

The estate planning shift moved towards identifying the family’s purpose and goals first and then creating a plan around that. This was a change from the previous focus on assets and taxes, where the family’s purpose was often an afterthought. This shift towards family goals and values is important because it allows advisors to create a plan that truly aligns with what the family wants to achieve.

As a financial advisor, it’s important to recognize these shifts and adapt accordingly. Clients are looking for advisors who will listen to their needs and help them achieve their goals. By focusing on the family’s purpose and values, advisors can create a plan that truly meets the needs of the client. This shift in planning is not going away, so it’s important to stay up-to-date and adapt to the changing landscape.

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