Financial Services Firms

Most firms today are putting together top-notch financial plans for clients and taking the appropriate measures to ensure their clients have prepared a will, a durable power of attorney, and a health-care proxy or living will. But do they go on to the next step and ask if clients have their end-of-life or personal matters in order?

The Allianz American Legacies Study, released in July 2005, pointed to the need to talk with people about legacy and end-of-life matters. The purpose of the survey was to gain a perspective on what people are thinking about inheritance in light of the fact that some $25 to $41 trillion is going to pass from generation to generation over the next two decades.

Mark Zesbaugh, president and CEO of Allianz Life Insurance Company of North America said “When focus groups were asked about the concept of inheritance, 'they clammed up.' But when asked to talk about 'legacy'—and what it means to them—the floodgates opened.” In other words, when people talk about inheritance, they think about money and death, but when they think about their legacy, they think about important things in life such as: How do I want to be remembered? What kind of legacy do I want to leave? What are my values and wishes that I want to pass on? And what about my personal possessions?

To be in the forefront of the financial services industry, you must help your financial advisors address these REAL issues. By offering legacy planning services you will quickly earn a name in the industry as a compassionate and forward-looking firm. Your knowledge and caring will also help your financial advisors solidify long-term relationships with their clients and families, leading to better client retention and more new business from referrals.