10. Charitable giving. Suddenly your client thinks they may need all their assets available after all. They’ve taken a hit on principal. Interest rates are low. They still want to support charitable causes. They might consider where insurance produces fir in. They might name the organization as the beneficiary on a life insurance policy. They might consider utilizing a charitable gift annuity or charitable remainder trust as part of their financial and estate planning,
We all like to feel we are good at certain things. We have our niche. Clients buy lots of products and services. If the stock market volatility associated with the pandemic has them considering other investment options, the money will need to come from somewhere. That might be from the assets they hold on the books with you.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” can be found on Amazon.