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A conversation with Cannon Executive Chairman Phil Buchanan: Part 8 of 9
As a tenured FA, you will have learned through hard experience the truth of the old Wall Street saying that ‘fear and greed’ drive the financial markets. This is useful to impart to your team members who lack your experience since this classic expresses a fundamental truth of investing which no financial models work perfectly.
Selecting the right executor and trustee is a big decision facing everyone creating an estate plan. Putting some thoughtful consideration into the choice can make all the difference in the success or failure of the plan and how the beneficiaries feel about it. Choosing a trustee is often not considered deeply enough, and here we will explore some of the key decision-making factors.
A conversation with Linda Eaton, Executive Vice-President and practice management expert, Cannon Financial Institute.
“We are creatures of habit,” said Cannon EVP and practice management expert, Linda Eaton. “We have all heard this phrase many times because it expresses a fundamental truth of human nature: our habits have a powerful hold over us.”
A conversation with Cannon Executive Chairman Phil Buchanan: Part 7 of 9
Before you start to build a team to help your clients, you have to ask yourself the macro question of, “what do clients want?” That seems an easy enough question to answer, but it isn’t. You, as the tenured FA, who is building the team, must provide an answer to give your new team members guidance from day one. You don’t want each team member making up his own answer to this question. It’s YOUR team.
Generation skipping transfer tax can be confusing. I get it. But understanding generation skipping enables another level of planning that can save families millions, even billions of dollars. And generation skipping is actually simpler than most people realize, and it does not even involve skipping a generation.