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Build Stronger Financial Futures with Health Care Planning

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Simone
 Christine Simone is the CEO & co-founder of Caribou, a software solution for the finance industry to include health care costs and plan optimization in financial plans.

It’s a top expense and source of stress.

By Christine Simone
The Holistic Guide to Wealth Management

Financial advisors are well suited to help clients with all the important decisions in their lives. But that doesn’t mean advisors always recognize the areas in which clients need the most help.

MORE: Marketing Strategies for Wealth Management Services | Trust Is the Primary Ingredient | How to Prepare Your Clients’ Kids for Their Inheritance | Annuities and Insurance Growing More Attractive | Quantifying the Value of an Advisor | Raise Your Rates to Change Your Clientele | How WealthTech Is Reshaping the Future of Holistic Advice | Profile of a Modern Firm: Putting the Vision into Practice | Tsunami of M&A, PE Is Disrupting the Accounting Profession | Introducing You to a Fulfilling Return on Relationships
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Take health insurance, a big concern for people across all income groups. According to a 2021 report from Spectrem Group (now part of CEG Insights), two-thirds of affluent investors (65%) say they want their advisors to help them with health insurance, but only 4 percent said their financial advisors are providing it to them (see bar chart). Further, among people who don’t have financial advisors, the top areas for which they would want guidance are retirement income planning, Social Security planning and Medicare advice.
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PODCAST

Denise Froemming | The CPA’s Secret Formula Hiding in Plain Sight | Holistic Guide

Modernizing the Profession Without Losing Its Core

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The Holistic Guide to Wealth Management
With Rory Henry, CFP®, BFA™

It’s no secret that the accounting profession is undergoing one of the most significant transitions in its history. Firms are more likely to sell to private equity than to other accounting firms. Technology is reshaping workflows. Worker shortages are forcing firms to rethink talent pipelines. But through it all, public trust remains the foundation on which everything rests.

MORE Rory Henry | THE HANDBOOK Holistic Guide to Wealth Management | MORE CPA Trendlines Streaming Network

That tension — protecting what makes the profession trusted while adapting to what the market demands — defines the moment.

Few leaders sit closer to that tension than Denise LeDuc Froemming, President and CEO of CalCPA, the nation’s largest state CPA society. Like Froemming, I’ve found that connection becomes more important, not less, as the profession evolves. Modernization is not just about software or ownership structures. It is about ensuring that professionals feel supported, heard, and connected across career stages.

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ADVISORY & CONSULTING

Transform Client Lives with a Holistic Approach

woman and man talking in office

Lead with the human first and match your expertise to those things that matter.

By Rory Henry
The Holistic Guide to Wealth Management

The future of advice is not financial, it’s human! It is about helping clients live their best lives.

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Instead of emphasizing technical skills such as minimizing taxes, building a portfolio and executing a Roth conversion, our goal is to shift your thinking toward a human-first financial mindset. This approach helps you uncover a person’s entire life. By being attentive to the many aspects of well-being, we can have a transformative impact on our client relationships that goes beyond financials.
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ADVISORY & CONSULTING

Client Discovery Meeting? Try Rediscovery

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Just watch out for your advice monster.

By Rory Henry
The Holistic Guide to Wealth Management

A client discovery meeting, or even better, a rediscovery meeting, can be an ideal opportunity for you to deepen your relationship with the client. Even better, when done correctly, the meeting can lead to self-discovery for the client.

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Historically, clients turn to financial professionals for help solving a financial problem or for alleviating financial concerns. They ask questions such as:

  • “What type of entity should I select and what are the tax implications?”
  • “How do I increase my gross margins?”

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ADVISORY & CONSULTING

Which ‘Money Script’ Do Your Clients Follow?

Businessman tightly holding briefcase with dollar sign on it

Understand this relationship to better advise them.

By Rory Henry
The Holistic Guide to Wealth Management

Joy Lere Psy.D., licensed clinical psychologist and co-founder of Shaping Wealth, a learning platform transforming the human experience of money, told me on my podcast that she was amazed by how often money was the cause of her clients’ anxiety and unhappiness. Research confirms this phenomenon.

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According to the American Psychological Association (APA), money has consistently topped Americans’ list of stressors ever since the first Stress in America survey was conducted in 2007. According to the APA:

  • 72 percent of adults report feeling stressed about money at least some of the time
  • 22 percent reported feeling “extreme stress” about money at some point during the past month
  • 26 percent of adults report feeling stressed about money most or all of the time

It shouldn’t be this way and this is where financial advisors can be a huge help.
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