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How to Capitalize on the Growing Demand for Estate Planning in Your Marketing

The gap between what clients expect to receive from their advisor and what they actually get has never been wider. There is a huge demand for estate planning right now, and with demand comes opportunity.
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In this webinar, Samantha Russell was joined by Co-Founder and Chief Partnership Officer of wealth.com, Tim White to share how to incorporate estate planning into your service offerings and effectively market them.

Short on time or just want the main points?

Here is your summary to skip ahead or scan through below.

  1. The Great Wealth Transfer [7:19]
  2. How Can You Capitalize on The Great Wealth Transfer? [8:11]
  3. Delivering On Your Clients Demands [9:58]
  4. How to Market Your Estate Planning Services [32:01]
The Great Wealth Transfer [7:19]

The Great Wealth Transfer [7:19]

  • The Great Wealth Transfer is already happening with $84.4 trillion expected to be passed between generations in the next 25 years.
  • Of this wealth, 86% is expected to go to Gen X and Millennial heirs and 14% to charity.
  • 95 million adults are expecting an inheritance (95M+) with an average value of $738,724.23.


How Can You Capitalize on The Great Wealth Transfer? [8:11]

How Can You Capitalize on The Great Wealth Transfer? [8:11]

  • Only 19% of clients work with their parents’ advisor
  • According to Cerulli, 92% of affluent investors who use their own advisor did not consider their parents’ advisor in their selection process.
  • Nearly all clients (93%) expect to receive estate planning assistance from their advisors.
  • Less than ¼ of the clients (22%) reported receiving estate planning assistance.


Delivering On Your Clients Demands [9:58]

Delivering On Your Clients Demands [9:58]

  • As an advisor, you are positioned to deliver on your clients’ needs and wants.
  • According to McKinsey & Company, advisors are adding nonfinancial products and services such as trust administration, tax preparation, estate planning, and lifestyle management services to their platforms.
  • Client preferences for holistic advice have risen by about 60% since 2018.


How to Market Your Estate Planning Services [32:01]

How to Market Your Estate Planning Services [32:01]

  • Make sure you list estate planning in your “Google Business” Profile
  • Ensure you’re very clear on your website that you offer these services.
  • Use simple language to explain what estate planning really means.
  • Tell stories that people can relate to.
  • Create an “Estate Planning Resource Center” on your website.
  • Add testimonials that speak to how you help with estate planning and management.
  • Add interactive elements to your website such as quizzes or other ways that you can engage with prospects. (This showcases your expertise and shows how you can help them.)
  • Include estate planning topics in your emails.
  • Talk about estate planning concerns in your social posts.


Supplemental Resources:

The slides can be found here

Transcript

Transcript

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