“This is one of the most important areas of our life and I don’t know who to hire. Frankly, I don’t even know what I should be looking for. Can you help me?” lamented Mr. R, a very well known and successful business owner, after one of our recent seminars.
As you might imagine, he is not the first to ask that question. You may be asking the same question.
Having made presentations to over three thousand people over the last quarter of a century and instructed accountants and financial advisors on how to work with people of means, here are some of my thoughts. As we stressed, in this complex area, you need to work with a specialist. A specialist focuses on you, works exclusively with people just like you and is an acknowledged all-star.
A Specialist Focuses on You and Your Issues
The best way to determine someone’s focus is to spend some time with them.
“I barely had time to speak,” complained Anna, a retired woman on her own, who attempted to interview an advisor to determine if they were a specialist. That’s a real tipoff that you’re not with a true specialist: they do more than 50% of the talking when you first get together.
When they do talk, are they helping you think about your dreams and concerns, or are they talking about what they do? That’s the second tipoff: the first job of a true specialist is to help you determine what’s most important to you and what’s most urgent.
Lastly, do you understand them—do they speak in plain English or techno-talk? You also want to see a description of their process.
A Specialist Helps People Just Like You
Once you have accumulated more than $1 Million, you are in the top two percent of wealth holders in the United States. Your issues are unique. You need an advisor that serves others like you— exclusively. Do they spend 100 percent of their time, effort and education on advanced wealth preservation?
“I looked on his website and he had seven specialties.
How can that be?” Dr. Kim asked. “It was enough for me to keep up with my one specialty.”
You need to ask the advisor a few questions: What is your professional specialty?
May I see a Sample Zero Estate Tax Plan? Do you have a description of your Ideal Client? How much have you saved your clients in taxes through your planning?
A Specialist Is an Acknowledged All-Star
“In my profession, it was clear who the true specialists were. I was a generalist before I retired. That’s back when you could be one. You can’t do that anymore. It’s way too complex.” shared attorney Seiner.
Every profession knows its “all stars.” All-star speaks to proven performance. There is a big difference between even a major leaguer and an all-star.
All-stars can often be identified as those who are published in their field and those who teach their professional peers… you can’t fool your peers.
Here are a few good questions: Where have your articles been published? Any radio and television appearances?
Warren Buffet said his advisors must be someone he can trust implicitly; someone who is at the top of their game professionally; and someone he enjoys spending time with. To me, that’s another way to say: specialist… who focuses on you, works exclusively with people just like you and is an all-star.
Rodney H. Piercey is a financial author, teacher, and consultant. Mr. Piercey can be reached at (224) 848- 4644. To get advice on estate planning, check out the expert Barrington estate planners on the Piercey & Associates, Ltd. website.
Company Name: Piercey & Associates, Ltd.
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