Hard-charging entrepreneurs might need to flip their risk perspective.
By Anthony Glomski
After helping clients sell a business, it’s crucial to focus on preserving wealth. This may require them to adopt a new mindset about their money, investing and risk.
MORE: Do You Know Your Client’s Total Picture? | What Level of Advice Do Entrepreneurs Need? | Three Approaches to Investment Consulting | The Role of the Personal CFO | Three Components of Collaborative Wealth Management | Cashing Out: Your Business Clients’ Five Big Issues
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In the old world, you could choose not to help your clients with their investments. Now it’s expected that at a minimum you will understand their investment plan and overall retirement plan. You don’t have to be the expert in every aspect of their financial plan, but you do need to make sure that all the different parts of the plan are aligned – and that all the other specialists working on behalf of your clients are aligned in their efforts.
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