Welcome again to the 106th episode of Monetary Advisor Success Podcast! My visitor on at present’s podcast is Kathleen Rehl. Kathleen is a researcher on the cash points that widows face, the creator of “Shifting Ahead on Your Personal,” a monetary guidebook for widows, and a speaker and coach for monetary advisors on how one can work higher with widowed purchasers. What’s distinctive about Kathleen, although, is that she’s additionally a former monetary advisor herself, having spent 17 years working as an impartial RIA earlier than sadly changing into widowed, at which level she determined to promote her advisory agency and shift her focus to empowering widows financially as an encore profession.
On this episode, we speak in depth in regards to the challenges in working with latest widows. The phrases to make use of and what to say, in addition to what to not say when working with a latest widow, how widows usually progress from a grief stage, the place it’s so troublesome to make good choices, that Kathleen merely advocates for a decision-free zone for six to 12 months, to a development part the place the transition work actually will get underway to start rebuilding the widow’s monetary life, after which a grace stage that not all widows attain, the place the muse is about for a brand new life in a brand new route. Which is essential to grasp as a result of monetary advisors that push the fallacious monetary points to a widow’s present part will seemingly turn into a part of that now notorious statistic that 70 % of widows finish out altering monetary advisors exactly as a result of so you probably have an actual understanding of an empathy for the problems that latest widows face.
We additionally discuss Kathleen’s personal apply. Why and the way she fashioned a distinct segment in working with members of the clergy, how she in the end wound out and offered the apply after changing into a widow, and the transition she made to changing into a speaker, researcher, and in the end self-publishing her personal e book to assist widows that has now offered tens of 1000's of copies, together with from monetary advisors who typically purchase the e book for their very own just lately widowed purchasers.
And make certain to hearken to the top, the place Kathleen talks about a few of the latest analysis she’s achieved on widows and cash, together with a examine that confirmed how widows who labored with a monetary advisor had considerably extra monetary confidence of their future, and the way the best advisors who’re working with the widows instilled much more monetary confidence for his or her purchasers than the typical monetary advisor, a robust testomony to the worth of a monetary advisor in a uniquely difficult stage of life.
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