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Financial Advisors Could Draw Lessons From Navy SEALs | Barron’s

Financial Advisors Could Draw Lessons From Navy SEALs | Barron’s

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.

Source: Financial Advisors Could Draw Lessons From Navy SEALs – Barron’s