As advisors, we are trained to prepare our clients for their future. We help them visualize and then quantify ages, dates and dollar amounts for various goals and contingencies to project a future lifestyle to work toward together. It comes naturally to us to help coach and guide others through what can often be difficult conversations.
We send children to college, protect families from the death or disability of a loved one and ensure happy retirements without fear of running out of money. We educate the non-interested spouse and work with attorneys to ensure an estate plan is in place. We ask the sometimes-controversial questions about supporting a family member or affording unexpected healthcare costs. What do all these feats have in common? They are all about sustainability—of funds, of a financial plan and of peace of mind.
But there is one thing missing in many advisory teams: sustainability of their practice.
