Most investors have goals they’re working toward today and dreams they’re striving to achieve in the future. Yet many lack the financial know-how to move forward with confidence.
You can help by offering wealth management services that provide clients with a roadmap for spending, saving, and investing to reach their goals.
Clients who are willing to pay a fee demonstrate a strong commitment to the financial planning process. Because they’ve invested in developing a personalized plan, they may be more likely to implement recommendations and take meaningful steps toward their goals.
Here are three reasons wealth management may make sense for your business:
1. You can earn planning fees while promoting other services.
Not all clients want to buy products or move their investments. Some may simply want objective advice from a trained financial professional. Fee-based planning can help you address your clients’ needs, whatever they may be, and you can earn a fee for your time.
2. You can strengthen client relationships and boost your value as their financial professional.
Holistic wealth management helps you assess clients’ comprehensive financial goals—both current and future. Providing a financial plan aligned with clients’ unique circumstances may help you build stronger, longer-lasting relationships.
3. You’ll gain stability regardless of market and economic conditions.
Holistic financial planning services are needed across all markets and economic environments. Offering fee-based planning may help diversify your product offering and minimize the impact of market volatility on your business.
Why financial advisors who focus on wealth management choose Principal®
You may think we’re focused only on insurance, but we’re also focused on wealth management.
It’s the best of both worlds: You get the independence you want. And you get the support and resources you need to expand your business to include these services:
- Investments (including alternatives)
- Retirement
- Estate planning
- Tax strategies
- Generational wealth transfer—a big opportunity
- High-net-worth solutions
We’ll help you serve larger clients with more complex financial needs—while maintaining flexibility in your business.
With Principal® Financial Network, you’ll have access to expertise, a broad range of product options, flexible unified managed account (UMA) capabilities, and advanced planning support. We’ll also help you support your clients through legacy, estate, and family wealth conversations.
Let’s connect to start a confidential conversation to see if Principal® Financial Network may be a good fit for you. We’ll also explain our transition resources that can make the whole process easier for you and your clients.
The Principal® Financial Network is a nationwide network of affiliated financial professionals who work with the Principal Financial Group®. We help individuals, businesses, and their employees build, protect, and advance their financial well-being.
Principal® is an equal opportunity employer, including disability/veterans, and an E-Verify participant.
Insurance products issued by Principal National Life Insurance Company (except in NY), Principal Life Insurance Company®, and the companies available through the Preferred Product Network, Inc. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392
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