Displaying items by tag: clients

When an advisor leaves and their accounts are reassigned to you, the transition requires sensitivity, strategy, and respect for the client relationship that preceded you. These clients may have had deep trust in their former advisor, and any attempt to immediately assert control or change how things are done can damage the relationship before it begins. 

Instead of declaring, “You’re my client now,” approach them as if they were newly referred—someone you're hoping to earn, not inherit. Start by learning as much as possible about the client’s history, goals, and preferences, using CRM notes and internal records to guide your outreach. 

By demonstrating empathy, professionalism, and a genuine interest in the client’s well-being, you can build trust over time and help ensure they choose to stay with the firm—not because they have to, but because they want to.

Finsum: In your first meeting, listen more than you speak, focus on continuity, and resist any urge to immediately pitch new products.

High-net-worth clients face financial challenges that extend far beyond investing — from tax strategy and estate planning to philanthropic giving and risk management. The tricky part is, they often don’t realize what’s missing until something goes wrong. 

That’s where an advisor steps in — not necessarily as an all-knowing expert, but as a skilled generalist who knows how to ask the right questions and rally the right specialists. The best advisors lead like point guards: coordinating tax professionals, estate attorneys, and insurance experts to keep the client’s entire financial picture aligned. 

They play offense and defense — identifying blind spots, managing risks, and preparing families for wealth transfer long before a crisis hits. 

Finsum: With the right team, proactive mindset, and a client-first playbook, you can position yourself as the go-to strategist for high-net-worth households.

Artificial intelligence is rapidly becoming a fixture in the financial advisory space, with over three-quarters of firms already using or exploring it. Rather than viewing AI as a threat, advisors should see it as a valuable ally that enhances efficiency and allows more time for meaningful client engagement. 

AI tools can streamline research, summarize documents, and provide fast answers to complex client questions, saving hours of manual effort. During meetings, AI-driven transcription services like Zoom AI Companion and Jump AI can capture notes and action items, allowing advisors to stay fully present. 

In marketing, platforms like Canva and Mailchimp now use AI to create polished content quickly, while tools like ChatGPT can also help formalize internal documentation and standardize processes.

Finsum: By embracing these tools, advisors can elevate service quality, boost operational efficiency, and increase the long-term value of their firm.

In today’s market, financial advisors can show real value by building actively managed, customized portfolios using low-cost passive ETFs instead of pricier active funds. A core-and-satellite approach — with an S&P 500 ETF at the center and defensive sectors, bonds, and gold ETFs as satellites — has proven particularly effective in 2025, outperforming the broader market. 

Strategic rebalancing between the outperforming satellites and a weakening core has been key to managing risk and enhancing returns. Defensive ETFs like XLP, XLU, and XLV, along with bond funds like AGG and SGOV and the gold-focused GLDM, have offered strong, risk-adjusted performance this year. 

This flexible framework allows advisors to adjust portfolios to market conditions, client goals, or macroeconomic shifts while keeping costs low and transparency high. 

Finsum: Ultimately, it strengthens the advisor’s role as an active, thoughtful manager of client wealth without relying on expensive fund managers.

As the wealth landscape evolves, the number of high-net-worth individuals is on the rise. And that means financial advisors who can cater to their complex needs will be in high demand. Are you prepared to meet the challenge?

Our infographic provides key strategies to help you become the go-to advisor for these discerning clients, such as:

• Leveraging professional designations
• Offering diverse financial strategies
• Using technology as a service tool

Are you ready to seize this growth opportunity? Transform your approach to serving high-net-worth clients today.

Download the infographic here.

Commonwealth Financial Network®, Member FINRA/SIPC.