Think Well-Being Before Wealth Maximization

Prospective clients often begin looking for an advisor thinking the sole purpose of their search is to find someone to help them achieve their financial goals. Starting out, they are exclusively focused on the advisor’s ability to demonstrate financial expertise. That money-first focus can lead advisors to then center their advice wholly on maximizing the client’s wealth. But people are much more than what they earn and what assets they are accumulating.

When looking to build a long-term relationship with a client, an advisor also needs to take into account the client’s values and purpose. That makes the client’s well-being a critical variable that needs to be considered from the outset. Personal well-being combines what people love to do, what they’re good at, and what they want to contribute to the world. While an advisor is not a well-being planner, that is what clients often end up valuing most about their guidance.

As an advisor, you need to be prepared to offer advice and support beyond the financial calculations. Whether it’s helping clients navigate life transitions, managing their emotions during volatile markets, or addressing their concerns about how to prepare for the future, clients want to know their well-being is your top priority. They want you to help them feel a sense of purpose about their financial decisions.

By focusing on both financial goals and personal well-being, advisors can provide a holistic approach to financial planning that ultimately benefits their clients’ lives and results in a long-term connection. That’s why maximizing well-being, not just wealth, should be the focal point of every client-advisor relationship.

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