Team Financial Planning Specialist or no?
My team is growing more and more to specializations with investment products. (Insurance, alts, ESG) I’ve been wondering if the Financial Planning role could also be a specialist in our client experience. We have two competing ideas; A financial planning specialist would be able to develop intimate familiarity with the planning software, processes, and human nuances. But would a newclient feel 'bait&switched’ to be handed off for this important process?

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Anyone, anyone? Buehler?

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Yes

can you fill me in a bit more? Does your team do this? How is the hand-off handled? What happens after the plan is done - who do they meet with next? Who handles the servicing? When does the originator of the relationship engage with the client?

Absolutely not. Clients want that dedicated planner. Whether it’s the point person on the team or not doesn’t matter. You structure it so the dedicated planner gathers the info, builds the plan, and presents it, and then they hand off conversation to the other specialist (presumably lead FAs) to provide the specific recommendations for stocks, bonds, insurance policies, etc.

Thanks for the reply. This is very interesting to me. My partner is a CFP and I am a CPM (certified portfolio manager). I have envisioned where new clients are sent to my partner for a plan then me for the investment recommendation.
The hand off is the place where we get tripped up.
What is a good way to manage that?
For example - here is where it gets weird for us;

Client - “Well, Bob - we like what you say and have developed a trust and confidence in you and your process. We are now comfortable telling you all about our hopes and dreams and trusting you with our life savings”
Bob “That’s great news! Thank you for your confidence in me. Come over here and meet Greg. Greg will be the person asking you about your hopes and dreams and reviewing all of your private financial records.
Client - “Um, Greg? Er - we thought we were doing business with you. Greg is sorta sketchy looking. We’ll get back to you...”

Or;

Greg - (after presenting the completed plan “... and that, Mr Client is your financial plan which reflects the needs you have expressed to me”

Client - you nailed it, Greg! I am so glad we’ve done this. You’ve truly aligned our goals and finances and given us hope! Thank you, Greg. You have earned our confidence.

Greg - Super. Let me introduce you to Bob now. Bob is going to tell you how best to invest your life savings in alignment with this plan.

Client - “Um, Bob? Er, We thought we would be working with you. Bob is sorta sketchy looking. We’ll get back to you...”

You see our dilemma? We haven’t figured out the handoff. I see the merit of specialization but in such a personal process we haven’t figured out how to get the relationship to carry over...

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