Embracing Innovation in Financial Planning

By: Laura Deignan

As we approach a pivotal election, financial advisors must remain vigilant about the legislative risks that could impact clients' portfolios. So, Stonewood Financial launched our Legislative Risk Awareness Month to highlight the importance of helping clients address potential tax changes, regulatory shifts, and their effects on retirement accounts. Advisors can build trust by engaging clients in meaningful conversations about how these risks may influence their financial future.

At our Innovate Summit training conference this week, the conversation expanded beyond legislation to innovative strategies, like automated marketing and lead generation ideas, and new ways to position annuities and life insurance as holistic retirement tools. Advisors who embrace these methods while staying aware of legislative threats will be better equipped to guide clients through the uncertainties of 2024 and beyond. (And I mean beyond—the effects of the upcoming election will be felt for many, many years.)?

One of the key takeaways from both Legislative Risk Awareness Month and our Innovate Summit is the importance of preparation. By identifying potential legislative threats early, advisors can adapt and safeguard their clients' investments. Preparing for potential tax changes or regulatory shifts ensures that portfolios remain resilient, even when external forces seem unpredictable.?

If you’d like to hear the top risks our CEO Becky Swansburg sees coming out of this election—and how to help your client prepare—check out this recent webinar we hosted: The 2024 Election & Your Clients.

When communicating tax and legislative risk to your clients, the rise of digital solutions and automation in financial planning gives advisors an additional advantage. The use of social media and automated webinars, as discussed at the Innovate Summit, allows advisors to educate their clients efficiently while maintaining personalized service. These tools enhance advisor-client relationships, making it easier to manage legislative risks while providing forward-thinking financial strategies.

Ultimately, legislative awareness and innovation aren’t just two separate parts of a financial advisor's role; they are deeply interconnected. Advisors who stay ahead of the curve on both fronts can deliver comprehensive, future-proof plans that provide protection for their clients in an ever-changing financial (and political) landscape.

We would like to thank the over 100 advisors who attended our Innovate Summit this week and the 600 offices we work with who are prioritizing legislative risk with their clients and prospects. Special shoutout to our amazing sponsors: RA Marketing, NAIFA, Trained Advisor, Leadjig +Acquire + White Glove, Integrated Trust, and MBI.?

Miss our latest Innovate Summit training conference? Registration will open soon for our next training in early 2025. Comment below to pre-register!