Why COREnology?

Module 1 — Lesson 1

In this lesson you’ll learn:

• The threats to your clients’ wealth that we rarely talk about

• The importance of understanding the “Who” and “Why” before you understand the “What” and “How.”

Research shows there are two primary threats to a family’s wealth and legacy:

Risk 1: Not having a solid plan to help them maximize investments, diversify risk, minimize tax liability, or transfer wealth.

Risk 2: Relationship issues within the family stemming from a lack of alignment, poor communication, lack of purpose and direction, misunderstandings, unclear goals and expectations, unpreparedness, regrets, and distrust.

Research from the book, “Philanthropy Heirs & Values: How Successful Families Are Using Philanthropy To Prepare Their Heirs” by Williams and Preisser, shows that most people believe lack of planning will have the biggest impact on their long-term wealth…

… when in reality, family relationship issues pose a much bigger threat.

At COREnology we believe the best advisors desire to help families create a holistic plan that helps clients feel prepared to address the financial opportunities and risks of wealth, as well as the relational opportunities and risks.

The best advisors do this by understanding the WHO they are serving and WHY before discussing the WHAT and HOW of a financial plan.

That means you need to get to the heart of:

• Who your clients are

• What they value

• What they believe

• What they want to accomplish

• What might be holding them back

• And why…

… before you get into the weeds about:

• Bank accounts

• Risk tolerance

• Retirement dates

• Estate plans

• Tax protection

If you’re the kind of advisor who cares deeply about your clients — and you understand that the biggest risks to wealth often aren’t financial — you’re in the right place.

With that context in mind, let’s dive into the COREnology dashboard.