Financial advisors historically have failed to sustain client relationships through multiple generations. When a client dies, leaving assets to children or grandchildren, the surviving generations stick with mom’s or granddad’s advisor less than 10% of the time, studies show.
There is a way to fix this problem: by building an interdependent advisory team.
True interdependence is built around the notion of extreme ownership; every team member has both the responsibility and power to deliver for the client. Studies show clients respond best to these types of advisory practices.