In this new regulatory environment, advisors want to understand their clients’ needs better than ever to deliver in a fiduciary capacity. That creates an opportunity to take that deepened understanding and deliver solutions that address a client’s broad financial needs. As advisors seek ways to continue to grow amid margin compression and commoditization within retail financial services, deepening the service delivered to existing clients can be a more effective approach to growth compared to new client acquisition. Crawford, whose team helps advisors operationalize a financial planning model in their practices, discusses the why, who and how of financial planning.
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