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5
Create trust after someone passes away.
Put yourself in a widow's position and try to understand the complex
emotions they are experiencing. They are looking for guidance to
navigate an area they may not know well, so it's important to be patient
and understanding as they learn.
Speak with compassion to them, as they are overwhelmed by grief. They
are looking for a partner to help them create a step-by-step plan that
restores a sense of control when they might feel powerless or vulnerable.
Supporting a widow in the first 30 days is essential because it can
be overwhelming, with many decisions to be made simultaneously.
Grief can affect judgment and lead to hasty financial choices that
may not be wise in the long run. Here's what you can do:
• Offer a plan that outlines short- and longer-term decisions.
• Talk about which financial decisions are immediate and
which can wait.
• By providing a plan, you help them feel more confident as
they adapt to their new circumstances.
Action steps
Conclusion
At Envestnet, we are committed to helping advisors uncover new
opportunities and strengthen client relationships.
Providing HNW clients with a highly personalized experience that
considers their life stage, family situation, and evolving needs is
essential. Recognizing the vital importance of holistic planning is key to
achieving success.
Your commitment to listening and responding to your clients' needs is
a cornerstone of building strong, enduring relationships. Meeting the
expectations of HNW investors is essential to retaining their business,
even after their heirs inherit their wealth.
For more insights on serving HNW investors, contact Envestnet's Private
Wealth Consulting Group.
PrivateWealthConsulting@envestnet.com
www.envestnet.com/private-wealth-consulting
