In this exclusive “follow my framework” webinar, financial advisor Bob Chitrathorn shares his tried-and-true methods for seamlessly integrating estate planning into his wealth management firm. His approach to building client relationships has transformed his business, has helped him grow measurable revenue, and has helped others do the same.
If you’re a financial advisor seeking practical guidance, this blog will help you explore estate planning for the first time or refine an existing strategy.
Here’s what you’ll learn:
- A step-by-step framework for introducing estate planning to clients (including effective conversation starters).
- Ways to simplify workflows and enhance value using estate planning tools (saving time and stress).
- Proven methods to establish trust, strengthen client bonds, and drive business growth.
Why Investing in Estate Planning Makes Sense Now
Usually, the largest financial transaction of your life is the one you are least prepared for. Most people leave behind their assets, as well as their legacies, to lengthy, expensive, and complex legal processes.
So why don’t more Americans have an estate plan?
- Lack of educational resources: Your prospects may not understand the risks of not having a basic plan.
- Procrastination: Most people avoid discussing end of life issues.
- Prohibitive costs: The cost of an attorney can range from thousands of dollars and this can be a financial burden for many families.
- Accessibility: People struggle to know who to trust to do things right.
But a surprising fact to add to this is that holistic planning from financial advisors has increased 60% since 2018, with legal services (inclusive of estate planning) being what clients value the most. This indicates that clients now recognize the importance of a well-rounded financial plan.
So as a financial advisor, your role is to be the heart and center of your clients’ financial well-being. When you start talking about estate planning with your clients, you will uncover more assets they want your help with. Your job is to ensure their financial goals are met in life and beyond.
Bob’s Framework: How He Introduced Estate Planning
Bob’s framework simplified complicated legal concepts and made estate planning more accessible for clients using Trust & Will. As a result, his clients were able to make informed decisions about their assets and planning became less stressful, making his clients feel more secure and confident about their financial futures.
Here’s how he introduced estate planning, step-by-step.
Step One: Identify the Right Moments to Bring Up Estate Planning
When it comes to estate planning, it’s important to identify the right moment to mention it. It’s something you should talk about when planning for retirement, when getting married, or when having kids.
Whenever a client or prospect updates their trust, Bob makes sure to track it in his CRM. If they don’t have a trust set up and funded, he inquires about a will.
As part of his birthday emails, Bob adds a P.S. asking about their trust status. He stays connected with clients through regular meetings, events, and webinars, making sure to follow up afterward.
Bob also schedules annual reviews to keep everything up to date and engages in beneficiary discussions as part of the process. Additionally, he makes random phone calls and reaches out for important life events, such as turning 18, marriages, and births, to maintain strong relationships.
Step Two: Start with a Complimentary Will as a Follow-Up
Bob’s follow-up philosophy revolves around providing valuable resources and guidance to clients. For those without a trust, he begins by offering a complimentary will. This opens the relationship to more opportunities of service ahead.
He then sends resources that explain the differences between wills and trusts, helping to guide clients toward ultimately setting up a trust.
Important note: Bob doesn’t directly recommend a will or trust specifically (this would put him at risk since he isn’t a licensed estate planning attorney).
Also, to ensure a consistent and effective approach, Bob focuses on creating a true workflow—building a systematic process that makes estate planning a standard part of every client interaction.
Ultimately, offering a free will is a “door opener” that naturally leads to trust conversations in the future.
Step Three: Educate about Estate Planning to Drive Future Opportunities
Bob’s strategy isn’t about selling- it’s about teaching. And the more his clients learn, the more they engage. Bob sends clients resources explaining the differences between wills and trusts, guiding them towards setting one up. They’ll not only be able to secure their assets but also build a foundation for the future.
The more Bob teaches, the deeper the client relationship gets. If you introduce clients to trusts, they’ll be more likely to roll over 401(k)s and do additional financial planning in the future (opening up more opportunities in the future for a financial advisor to grow with a client!).
He regularly shares simple, powerful resources, such as:
This education builds trust.
📈 The result? Stronger relationships, more planning opportunities, and higher long-term revenue.
Client Story: From Free Will to Full Planning
Meet Sarah and Miguel, a couple in their late 30s with two young kids. When they first met Bob, estate planning was nowhere on their radar. They came to him to talk about 529 plans and life insurance- but Bob noticed they didn’t have a trust or will.
After their meeting, Bob followed up with a complimentary will through Trust & Will. A week later, Sarah emailed him thanking him for “finally helping us take that first step.”
Over the next few months, Bob continued to educate them about the differences between wills and trusts. That led to a decision to set up a trust for their kids and review their 401(k) beneficiary designations. Eventually, they brought over old accounts and asked Bob to review their broader retirement plan.
“We always thought estate planning was something for wealthy people,” Miguel said. “Bob made it feel doable- and now we feel way more confident about our future.”
What We Can Learn from Bob’s Success
Bob’s approach shows even clients with minimal assets can be valuable in the long run. He guides clients toward building an estate plan on Trust & Will’s platform that secures their future by educating them and building relationships.
A key factor in Bob’s success is his ability to simplify the estate planning process through Trust & Will. He helps clients take action by offering clear, accessible solutions.
Using traditional methods can feel overwhelming or take a lot of time, so people usually procrastinate (even one out of four financial advisors don’t have their own estate plan!). But with a streamlined approach, clients are more likely to make timely decisions, which makes it easier to manage their trusts.
The way Bob approaches his clients demonstrates that proactive and educational approaches create long-term value for financial advisors as well as their clients.
Are you ready to take your practice to the next level like Bob?
Partner with Trust & Will today and start helping your clients secure their future with confidence.
In Summary
The ability to incorporate estate planning into your services is a big differentiator that consumers seek out. Estate planning isn’t just important to upgrade your firm’s offerings, but it will help you attract new business.
However, the real key to success lies in how well you position and promote this service to your audience.
So are you ready to make estate planning a cornerstone of your advisory firm? Learn more at https://trustandwill.com/advisors/ or schedule your free, 1-1 strategy demo here.
