Tips From the Pros: Estate Planning for Middle Rich ClientsTips From the Pros: Estate Planning for Middle Rich Clients

Advisors have an important role in convincing clients to take the necessary steps to achieve their goals. My thesis is that clients can sense our doubts. If we’re unsure about a strategy, if we worry about it, if we’re confused about it, if we think it’s too risky or complex, the client will sense that and draw back no matter how enthusiastic we try to appear. Think about your physician, who may express doubt in the face of uncertain diagnosis or may summarize the pros and cons of options, but in almost all instances will end with a hearty “here’s what we need to do”—or words to that effect. Your physician knows that their confidence is one key to your healing.

No advisor understands every idea, technique or possible plan. Often, we advis...