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What You'll Learn In Today's Episode:

  • Estate planning is an important aspect of financial planning that should not be overlooked.
  • Clients often procrastinate on estate planning, but advisors can help create momentum by sharing stories and explaining the potential consequences of not having a plan.
  • Using online tools and services can simplify the estate planning process and make it more accessible for clients.
  • Asking clients about their estate plans can lead to valuable conversations and potential referrals.
  • Taking inventory of clients’ estate plans and researching estate planning vendors are important steps for advisors to take. Financial advisors should prioritize self-improvement and continuously work on enhancing their skills.
  • Seeking feedback from clients, especially top clients, can provide valuable insights and help advisors tailor their services.
  • Utilizing top clients as sounding boards for new ideas and strategies can lead to better decision-making.
  • Educating oneself on estate planning terms and concepts is crucial for financial advisors to serve their clients better.

In this episode, Matt is joined by Yohance Harrison to discuss the profound importance of estate planning, driven by Yohance’s personal experience assisting a client on her deathbed in 2020. Yohance shares how over 50% of Americans pass away without an estate plan and stresses the need for critical documents like wills and powers of attorney.

Yohance also talks about how he leverages client interactions to generate referrals. By discussing beneficiaries and powers of attorney, he opens opportunities to guide clients through notifications, turning one estate plan into multiple referrals. Matt underscores the advisor’s role in delivering value and initiating meaningful conversations, illustrating how such interactions can positively impact clients’ lives. Tune in for practical insights into estate planning, navigating its complexities, and creating lasting value for both advisors and clients alike.

Resources In Today's Episode:

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