Sample interview questions: How do you assist clients in planning for their legacy and intergenerational wealth transfer?
Sample answer:
Answer:
- Create a clear and comprehensive financial plan. This plan should include specific goals, timeframes, and strategies for achieving those goals. The plan should also address the client’s risk tolerance and investment objectives.
- Help clients understand their options for transferring wealth. This includes both lifetime gifts and transfers at death. The advisor should discuss the tax implications of each option and help the client choose the strategy that best meets their needs.
- Work with other professionals to implement the client’s wealth transfer plan. This may include attorneys, accountants, and other financial advisors. The advisor should ensure that all of the professionals involved are working together to achieve the client’s goals.
- Monitor the client’s financial plan. The advisor should regularly review the client’s financial situation and make … Read full answer