Orchestration is becoming the advisor’s job
The role of financial advisors is evolving to include orchestrating relationships across a client's financial life. This shift, known as orchestration, requires advisors to coordinate multiple specialists and ensure cohesive decision-making, especially during critical transitions. As complexity in clients' financial situations increases, advisors who excel in this role are becoming essential to managing high-net-worth families effectively.
- ▪Advisors are now expected to be the point person orchestrating relationships across a client's financial life.
- ▪The concept of orchestration is becoming central to the role of any advisor dealing with complex high-net-worth families.
- ▪Good advisors help clients navigate transitions by coordinating with various professionals and ensuring decisions are aligned.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:The best advisors are now expected to be the point person orchestrating the relationships across a client’s full financial life.A-Digit/iStockPhoto / Getty ImagesShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountA client pulls out a list of the professionals in their financial life. There’s an investment advisor, a private banker, two accountants, an estate lawyer, a corporate lawyer and an insurance specialist.Then comes the question they eventually ask, even if they don’t say it this plainly: Who is running everything?The honest answer, usually, is nobody. Or rather, the client. They become the hub, forwarding e-mails and trying to keep decisions consistent across people who each own only a slice of the picture.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
Discussion
0 commentsMore from The Globe and Mail
