The Truth About Financial Advisors: What's Changed, What Hasn't, and What to Ask | Ep. 3
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Episode Summary
Most people do not know what questions to ask a financial advisor until they are already deep into the relationship.
In this episode of Beyond the First Million, Gideon Drucker and Jordan Haines unpack the confusing language often used in wealth management and explain how high earners can better evaluate whether an advisor is actually the right fit.
They discuss the evolution of financial planning beyond investment management, the importance of tax coordination and proactive service, and why specialization often matters more than credentials alone.
The conversation also explores how advisory firms are changing, what a real service model should look like, and the red flags clients should pay attention to before hiring anyone.
Topics Covered
What a Financial Advisor Actually Does [03:49]
The Shift From Investment Management to Holistic Planning [05:25]
Why Tax Coordination Matters [10:46]
The Best Question to Ask a Prospective Advisor [13:10]
Why Specialization Matters [15:09]
“Go Ask Your CPA” and Other Advisor Red Flags [18:44]
What a Service Calendar Actually Means [19:30]
Why Growth Matters in an Advisory Firm [21:02]
The Future of Wealth Management [27:14]
Resources & Links
Transcript
Below is the full transcript for Episode 3 of Beyond the First Million.
Introduction [00:38]
Gideon: Welcome back to Beyond the First Million by Drucker Wealth. I'm Gideon Drucker. This is Jordan Haines.
Last week, we spoke about how to think about goals versus priorities, and how to turn your goals into priorities that are actionable. And this week, we are going to be speaking about the financial advisor jargon and nonsense that maybe drives us a little crazy. And I think in talking about that, it'll help anybody that's looking for a planner or how to think about it, you know, figure out really what they're looking for. But before we do that, before we started filming, we're in New Jersey right now, but I live in New York, and Jordan, what are we saying so far?
Jordan: I've never been to Jersey. It's great. I honestly had no expectations about Jersey.
Gideon: Why this is important to discuss is that you mentioned that you live in Idaho, so you just had some New Jersey / New York pizza, and you said that Costco pizza is the best pizza around where you live, cleaner than Domino's, better than...
Jordan: Yeah, it's the best chain pizza...
Gideon: Yeah, we'll just leave it at that. Jordan has a lot going for him. His food pizza decisions are not one of them, but there are other reasons you're on the podcast.
Jordan: I have highly tuned taste buds.
Gideon: You did bring us some sourdough, so we appreciate that. The only other thing, and I'm still reeling a little bit, but I'll move past the pizza situation, is that we have an outline and agenda of what we want to speak about. These first few episodes, I think the only people watching and listening are my wife and my mother and your wife, and your mother, and my sister, I'm like, 50/50, I'm going to call her out. I doubt she's watching this. So for now, we have what we want to talk about, what we think would be interesting, but we do want to hear from anybody that's listening, that's watching. So if you have ideas, thoughts, you know how to find us, it'll be at the bottom of this. And yeah, we're happy to talk about whatever is interesting to the people we are trying to reach. So future episodes can be sponsored, not literally, but submitted, who knows? This can be huge. Yeah, Costco might be our first sponsor, but what we want to hear from you, and we're happy to talk about, is what is interesting to whom we're speaking to.
So look, we want this podcast to be real talk about financial decision-making, right? Like I said in I think the first episode, we're not stock picking, we're not even outlining how to do a Backdoor Roth IRA. I mean, we can talk about that in the context of decision making later on, but we want this to be about what happens in the lives of our clients day to day. One of those things is interacting with financial planners, CPAs, and investment advisors, and whatever we all want to call ourselves. So I think today's episode is talking about what to look out for, what to think about, when is the right time, and what questions to ask. And Jordan and I have a lot of opinions on this subject. This could be our first four-hour podcast, but we're going to make sure it's not.
I'm going to start out with a little bit of history, because I think we both experienced people who think they're not ready for a financial advisor because of what they think an advisor does, and that they may be stuck 15 years in the past. And I mean, what are some of the most common things you hear of somebody that says, "oh, I didn't even know an advisor could do that," or "I didn't know I was ready working with someone."
What a Financial Advisor Actually Does [03:49]
Jordan: I'll just say, I think almost everyone here has had some interaction with an advisor or exposure to one. Whether it's you've worked with someone directly, your parents have worked with someone, you've seen a video of one, you've got a news story of someone... There are a lot of different things. I'd say that the place to very first start is, what is a financial advisor? That is, frankly, I think, one of the hardest things for most people, because they have preconceived notions about what a financial advisor does. So in my mind, and I'll just provide this, like, really simple script, because I know we'll get into history, but it's important to differentiate. Like, what are you actually looking for? For a financial advisor to solve.
Gideon: What are a few things you could be looking for, right?
Jordan: Yeah, if you're looking for someone to give you guidance on your financial life and help you achieve your goals, that's pretty broad, right. You want someone who is really focused on you and your goals and your priorities, versus, if you want to go and find an investment manager who's going to just return as much money as you possibly can, that's a Portfolio Manager.
Gideon: That's a separate job.
Jordan: Yeah, the difficult thing is they would both say, "I'm a financial advisor". That's where it gets tricky, because one is really just a specialist, really focused on one area of finance, whereas the other one's kind of a more generalist, focused on a lot of areas, but really just dialed in on how those areas are.
Gideon: Right, and their job is to coordinate. So I think what you said, so many people call themselves a financial advisor. Your local or not-so-local insurance agent, you know that primarily, or in some cases, only sells life insurance, like they literally can't advise on investments, is a financial advisor. You know, the portfolio manager who is only talking about your investment allocation. Also, a financial advisor. Somebody who advises on education funding, risk retirement, also an advisor. We can go down the list, right?
The Shift From Investment Management to Holistic Planning [05:25]
So we want to explain a little bit about how we got there. I hesitate to use the H word "history" because the history of wealth management, I think, is only interesting to the two of us. But I think it's helpful to explain why we have this term, this catch-all term. So I think 10 years ago, 15 years ago, definitely further than that, somebody having a financial advisor really meant that they had a portfolio manager. It was somebody who was hired to manage your assets, your 401(k), your IRA, your taxable accounts, what have you... And they were paid specifically and exclusively to manage that account. And again, I'm painting with a broad brush; there were excellent financial planners 15 years ago. But if we look at, percentages and the overall, I think it's fair to say, the overwhelming majority of people who had an advisor, we're working with somebody that was paid to manage investments. And that's the biggest thing that's changed, is in today's world, what we do, investment management, and you just alluded to, it is one part of financial planning. If you think of a flywheel, we like to say it's one of the eight things that you might be advising on, you know, along with estate planning, tax coordination, insurance, cash flow, retirement projections, education funding, and the life goals that we spent in the first two episodes speaking about.
And this kind of happened organically and naturally, and it's not anybody's fault; it was really the only way advisors could charge back in the day. Nobody was paying for financial planning as a standalone service. They didn't have the technology, the means to even do that. So it kind of resulted in the people who had advisors who are older retirees. Why? Because that's where the money was. The older you are, the more likely you are to accumulate assets, and it was only people who had a certain level of assets that could advise on that.
But for now, how things have changed. We get calls all the time, but we call it our right fit calls, where somebody says, "I have an advisor XYZ location, because I don't need to be on the receiving end of a large bank or insurance company. So I work with them. They're great. They manage my accounts, but I'm really looking for planning, and they don't do that." And in my head, I'm just like, so what, from office space... What would you say you do here? Like, seriously, what does the advisor do if the only thing they're looking at are the investments?
Jordan: What's been interesting to me, too, is when I hear people talk about either their current advisor, it could be their CPA and insurance person. You probably get this too. I often, like, I'll say, "Okay, how do you like them?" "Fine." Like, fine is the way that is described a lot. And there's something when I poke and prod a little bit and try to understand, like, what's missing right now. It's often common that it's hard to articulate what's exactly missing, and eventually we get to the point where it's well, we're missing more of the, what we would describe as holistic, right. Something that's a little bit more, they're looking at all the different areas and how they interact and things like that.
Gideon: It's also, if you don't know what you should be expecting, it's pretty tough to identify what somebody is doing.
Jordan: Well, because you're walking around and you find a guy that you like, or a gal that you like, and it's just, I don't even know what questions to ask this person to see if they're good?
Gideon: So we will get to it, because I think, you know, asking the right questions is super important. But I would say, if I gave a little bit of the hey 10 to 15 years ago, financial planning boiled down to investments or insurance. I would say today, the way I think we see our jobs more than anything, is that it's integrating all the different parts, taxes, insurance, estate, cash flow, into one approach. So, an advisor has to do more, quite frankly, to warrant the business, because investment management is important. But even on that, and this is my take us in a whole different direction, but investment management is important. But that investment management and picking the investment strategy are not the same thing. They're very different. Picking the investment strategy is like 1/10 or 1/5 of the investment strategy.
What are the other components? If we're saying hey, picking the funds, even if you're just talking about investment management, picking the funds, or the stocks or the bonds, index funds, mutual funds, whatever you want to use, is one part of it, because even before then, you have to pick, well, what are the tax vehicles we want to use? Roth IRAs, HSAs, 529s, how much do we want to fund each one? More for retirement, more for college, more for the short term? And so what vehicles do we want to use? How much do we want to fund each one? And then, once you have the asset allocation that actually makes sense for your goals, then we dive into the funds that you need. And then you dive into, well, what should be our rebalancing cadence, right? And I think I made fun of, like the drift bait, but that is a part of the investment, you know, allocation. Then it's, how much cash do we want to keep? How do we withdraw money in a tax-efficient way? Are we tax loss harvesting? Are we having a tax location across portfolios? And I'm going quick on this, because the point is not that we make sense of all this, but it's there's a lot more under the hood of what real financial planning is, and it's a little bit, I don't love using that term, but I think that is what we are trying to get at.
Jordan: The word holistic is thrown around in a lot of different contexts nowadays. So when I use the word holistic, often what I think of is that your financial health has a lot of different components. Investments, for example, are one of those. And even within investments and building an investment strategy, there's a lot that goes into it, but everything interacts with everything else. That's what I mean when I say holistic. So when you make a decision from an investment standpoint, it's going to have a tax implication. If you make a tax decision, it's going to have an implication on your cash flow, and frankly, all of these are intertwined with what we talked about last week. Your goals, your objectives, and your priorities, with your life. Everything interacts with everything else.
Why Tax Coordination Matters [10:46]
Gideon: And that's why we started. I think, you know, we're three episodes in. This is the very first real pitch of what Drucker Wealth does. We just launched our tax business to do tax prep and filing for our ongoing wealth management clients. My dream was never to own a tax firm. I don't even do my own taxes, to our prior point of I know how to do it, I look at tax returns every day, but it's not the best use of my time. We didn't want to have a tax business. Why did we set it up? ...We had a lot of our clients who are using our tax prep and filing team... The number one thing we got asked over the last four to five years was, "Hey, I love you guys. You handle this, you do that. My CPA is like..." CPA is a tough job, to be fair. CPA is a little bit like a ref in sports. They're only called out when they do something wrong. Nobody's ever like, "Oh my CPA, that ref, you know, he refed an incredible game." It's just if they mess something up. But we heard that over and over again, and we think the future of being a financial planner, the future of what our clients are looking for, is integrating tax estate planning and only having to go through one firm to do so.
We know the number one thing our clients are looking for is to save time. They're meeting with us after picking their kids up from practice, feeding them dinner, putting them to sleep, and then going back to work, and they have about an hour and a half gap in between to deal with everything for a given week in their lives. Speaking to a CPA, an advisor, and an insurance agent is madness.
Jordan: And ideally, you have an advisor or someone, and I'm using that advisor here as that holistic special, when we work with a client, we know that client so well. We know their dreams, their aspirations. We can then help coordinate with those other people who are needed. So being able to go through that person who knows you really well and what you want out of life, I think that's really helpful, because then you have the right specialist.
Gideon: Having it all in one place. And you know, I'd said this to a few people who have reached out, we are not trying to become a tax firm. Some people reach out and say, "Hey, can you guys do my taxes?" No, we do that for our clients because we want to create that one-stop shop feel. And again, this is how Drucker Wealth does it. But quite frankly, the reason we're doing this now is that I think in 10 years, 5 years... the idea of right now, we're saying it's outdated and ridiculous for an advisor to just do your investments, to just focus on your investment management. In another five years, it will be equally ridiculous for an advisor to just do Financial Planning and Investment Management without the taxes and without the estate planning altogether. So these are things to think about.
The Best Question to Ask a Prospective Advisor [13:10]
When somebody books a call with us, we have a list of questions that you should ask to your advisor. Just to get people thinking, because you made the point before, sometimes when you ask, "How do you like your advisor?", you get, "Good, fine. They're really nice. They send me something on my birthday." They don't really have a way of quantifying. And that goes even more if you've never had an advisor, and you reach out and you're trying to judge who would be a good fit for you. I like providing them with a set of 10 questions you should ask. If you want to ask me 10 questions, go for it. But most of them say, "Hey, what are the three that make the most sense?" Sure, if my sister and her family weren't working with me, who would I tell them to? How would I help them identify who they should be working with? Because I always kind of think in that family standpoint.
But one of my favorite questions that I would ask anybody to ask any professional they're working with. We hire consultants, we hire professionals, and others... "Who don't you work with? Who would reach out to you and offer to pay you money, and you would say, No, no thank you. You're actually not the best fit for the type of work we do." Because anybody who doesn't have a clear answer to that, or can't make up or find an answer to that, is basically saying we will take on anybody who pays us. And that we don't have a niche, we don't have a specific type of person that we are best suited to work with. Which gets at the generalist idea we were talking about... "Hey, I'm an advisor, and I will work with anybody who reaches out who needs this or that," as opposed to, again, like this whole podcast... who is it dedicated towards... high-income-earning mid-career professionals!
When people in their 20s reach out for these calls, I try to be helpful and say, "Hey, I would do this as a first step, not providing investment advice for the compliance people that are just floating in the air. But saying, "Hey, this would be the first thing I would think about." And then I might hire an hourly planner, because this is going to sound conceited, but you don't need to hire Michael Jordan to train your four-year-old on how to hit a lay-up. The four-year-old's older brother can probably handle that. On the same token, we're not trying to work with somebody who is 75 years old and is worried about required minimum distributions and legacy planning for their great-grandkids. Not because that's not important and they don't need help, that it is, and they do, but that is not what we do best.
Why Specialization Matters [15:09]
And I think this is a whole side tangent, and then I'll catch a breath. Doctors and physicians figured out a long time ago that specialization is important. You wouldn't hire a heart surgeon to speak with your four-year-old when they run a fever, or vice versa. And people tend to think, well, the heart surgeon could do everything. It's the pediatrician that you don't want doing heart surgery. And I would say it's actually both. There's a soft skill set, there's something when you're dealing with kids, and again, I'm making a point, but it works in the same direction. You want to find somebody who actually specializes in exactly the stage of life you're at, what you need help with, and take it from there.
Jordan: Yeah, I would say not flipping that around, but maybe saying it differently. The focus, right? If there's a specialist, and then there's like a holistic advisor, you want someone who's focused on you. Their specialty is you, and people are different. So in my past life, I worked with only dentists, and dentists have really unique things that typically only dentists have. And so finding an advisor who focuses on you as a person is going to be the most helpful, not necessarily focusing on a specific topic of finance. I am really good at this investment strategy... Okay, great. That's like, you're focused on creating some sort of supply in the world, hoping that people want it. No, you want someone who's focused on you and the things that you're demanding, the things that you want in your life.
Gideon: You mentioned you used to work with dentists in your past life. So even that, I keep emphasizing the stage of life. A lot of our parents, not exclusively, but in their 40s, at that stage of life, where they are making a lot of money. They've been working for 15, 20 years, they're thinking about next steps. But even professionally, that's a good distinction. Now, I think there are diminishing returns as a client saying, "Oh, we need to work with somebody that's left-handed and lives on this street and is a dentist and only works with...", you know, so and so forth. But, for us, most of our clients are W2 income earners. And if we have self-employed clients, it's usually the spouse. We work with a lot of people at Google, at Amazon, at some of the big tech companies, and their spouse might have a business, and that's great. And there's a lot of planning. I always say, if I were a matchmaker, I would pair a W2 high-income earner with a business owner for the joint pack benefits. There are probably reasons I'm not a matchmaker, if that's how I'm thinking about it.
Jordan: He's not encouraging all you people to go out and quit your jobs. And just...
Gideon: No, I'm encouraging you to find somebody who already is doing the other thing. So we work with those folks, because, yes, you can help, but we don't work with somebody that is a business owner, and they have 15 employees, and they're a C corporation, and they're trying to get... That's a totally different way of planning, way of thinking about what you need, and identifying that early is a pretty cool thing.
“Go Ask Your CPA” and Other Advisor Red Flags [17:49]
There are two extremes, I think you and I like to nerd out when we talk about, sometimes, how advisors present themselves out in the world. Now, the one extreme that I think we're talking about is not even how they present themselves. It's just the reality is, you ask your advisor or prospective advisor a tax question, right? "Talk to your CPA." In 2026, I think the idea of an advisor saying, talk to your CPA as their catch-all for tax advice, is crazy. Now, yes, there are certain things that, if you're not also doing the tax prep and filing, you need to rely on that. But usually clients aren't asking, "Hey, what are my what's my itemized deduction this year?" Most people know they're not asking their planner that. But if they say, "Hey, how should I be thinking about tax strategy for the next five years?" The follow-up answer from an advisor should not be, "You should probably speak to your CPA." Instead, I would ask, "Hey, what is your tax philosophy? How do you incorporate taxes?" It's one of those things where it matters less what the answer is; I wouldn't say there's one answer you should be searching out for. But they should have a philosophy, they should have a thought, they should be able to identify that.
Jordan: Is it safe to say that when you hear, "Go ask your CPA," that's their way of saying, I don't care.
Gideon: Not, I don't care. Sometimes I feel that, sometimes they're at a big box, they're just not set up to give tax advice, and they're just not able to. So I'll take the charitable view of it, that they do care, but they just haven't gotten deep enough, or that's not incorporated into their planning. But, yes, they are absolutely advisors that say, "Hey, I want to do this one thing", whether that's managing your 401k, selling you insurance, opening up this account, and anything that's outside the strictest of that... are kind of getting in the way of the thing I ultimately want to do.
What a Service Calendar Actually Means [19:30]
To the second question, because it'll kind of reveal itself, is what's your service calendar? That question identifies whether you are talking to someone who considers themselves in the service business. That they're providing advice and coaching throughout the year, they're managing your investments, which I think is important and should be incorporated, and they're doing planning. They're meeting with you to update the plan. They're working through their cash flows. And again, whether it's twice a year, three times a year, whether they send a loom video, or a lot of different ways of doing it. But there should be a calendar, and it should be more than, yeah, we go through their investment accounts once a year for a portfolio review.
Jordan: Then just doing a review, right? I think a different way of phrasing that question might be, which is sad. I think you say service calendar, some advisors might blank stare at you in the face, which is fine, separate conversation.
Gideon: It's not how they do things.
Jordan: They may not use the word service calendar. Said differently, asking "How will you actually work with me? What is your process?"
Gideon: "How will you make sure that I'm continuously on track?"
Jordan: Process is a keyword here. What's your process for helping make sure we're on track, or building our financial plan, whatever that is. Because that's going to give you insight into how they actually work with you. And you want to look at it initially, because a lot of advisors like ourselves included, will start by doing a full analysis and looking at your situation, great, but what happens after that? How do they make sure that you're maintaining progress, that you're updating things, because your life will change, and just doing a review is not going to cut it. A review is a placeholder for an advisor, saying, "We'll just chat."
Why Growth Matters in an Advisory Firm [21:02]
Gideon: Well, especially, I think we're saying the term review to mean an investment, by saying, "Hey, here's what you earn in your portfolio." We have reviews with clients all throughout the year, and we spend so little of the review talking. You can look at your investment performance every single day, at any time you want, on your phone, I strongly recommend not doing that. And we'll have the entire podcast about investments, but you can do that on your own. You don't need the advisor to tell you what the performance of your portfolio is, and the amount of times we still hear you, "Yeah, I have an annual review, and we go through the investment performance..." What is that going to do? How is that moving the ball forward in your financial life? Now, I said, I think we've been soft to this point on this podcast, because we said we were going to talk about the nonsense advisors talk about. And so far, we've really just been, hey, how should you, a potential person that is looking to hire a financial planner, think about picking a financial planner, what questions should you ask? All that's important, but we said we were going to get a little real. So something that I know, and we spend way too much time probably on LinkedIn scrolling at night, the way people scroll. My wife will be looking at Instagram, where I don't really know what's going on. And she ask, "What are you looking at?" I'm like, "This advisor's fee schedule is crazy." She asks, "Don't you want a break? Isn't this enough?" But anyway, we spend a lot of time in that, and there are certain advisors ...we're gonna see how this goes, because I'm getting a little bit in the weeds. This might resonate; this might not. Almost act like they're not running a business, but what they do is they're saving the world, they're virtuous, holier than now...
Jordan: They're catching a moral something...
Gideon: Right. Now, what we do is important, and we get to literally guide clients through financial independence. And we've both been on meetings where we're like, "Wow, that was definitely awesome."
Jordan: Yeah
Gideon: They are now in a different place because of the advice we gave. But at the end of the day, we are also running a business. And I actually think that's maybe what's from our perspective. Other advisors are presenting one phase, to then, they're also running a business. But why I think it's important is because... I am brutally honest in our newsletters to clients by saying, "Hey, here's how our business is doing. Here's how we're growing. Here's how many new team members we have." Because if I were a client, I would want to work with an advisory firm that is interested in growth. Because you know how you grow. You know what more revenue as a business means? That you can provide more services and more value to your clients. Why are we able to build out a Tax Division? Because we are growing, and clients really want our help, and then those clients want us to do even more for them, and it's self-fulfilling. I think we are not building a 1000-advisors mega shop where nobody knows you. We are a small family-owned firm, but we're getting big enough where we can start providing these additional services. And us being recognized and growing and hiring more advisors and more, that all ends up as a benefit for the client. And I think this idea of I shouldn't talk to people as a business, of how my business is doing, or how we're growing. No, clients want to know. I wanted my CPA to crush it, because then I know they're going to keep reinvesting. It's the people that they're almost like, I'm good, where things are. The industry is moving the rules, the regulations, you need to get better constantly. I love the idea of working with my other professionals, as they are constantly striving to be better. And that's going to benefit me as the end user.
Jordan: We didn't spend a lot of time on this, but I know in a past episode, we talked about my history, and I've been in this industry for a long time. But I spent five years of that in technology. A lot of the listeners to the show probably spend their time in a technology company or in a growing company. Some of you have probably been around an organization that is not growing, and the downstream trickle effects of a stalled or a declining company affects everything. It doesn't just affect how many people are there. It affects the ability to deliver great service. And frankly, I mean, if you want to get overly simplistic, a growing company tends to be healthy because they're helping people succeed. Ideally, an advisor who you talk to is helping their clients succeed, and thereby growing. It's a really easy way to figure out if this financial advisor, if this financial professional, is going to help me succeed in the things that I want. If they're growing, they're likely helping you succeed, and they're helping other people succeed, and that's what you want.
Gideon: And guess what? Our clients are also growing in their own lives. Somebody we met five years ago, when they were 40, and they're making 500, now they're in some cases, making double the money, and they're five years older. They want to know that we're evolving with them as their lives evolve, and that we're not stuck. Now we said we work with 35-year-olds, now it's 10 years later, you're 45, but we are stuck doing the same thing. So anyway, we're trying to tie this back to write a question. So the question is, "Hey, Mr. and Mrs. advisor, where do you see your firm in five years, what type of work do you want to be doing? Who do you want to be working with, and how big or small do you want to be?" That's different for everybody, right? Somebody might want to work with just one-to-one, but they also know they're not going to get those additional services, the additional values. I wouldn't personally want to be part of a 1-800 number type client experience. I happen to think that the in between is a good place to be... not coincidentally, that's what we look like. I say that not coincidentally, tongue in cheek...
Jordan: We're super biased...
Gideon: Yes, we're super biased, but we're also building towards the thing we think is the best. Otherwise, we wouldn't be building to that thing. We'd be trying to keep things away.
Jordan: Can I add one more thing to this, because I think it's important. A growing... we're using that word loosely, a growing firm might grow to a certain point, saying... Hey, this is good enough, but we're going to continue to grow with our clients. Typically, when you grow, you anticipate the future a little bit, you're thinking about it, and you're getting ready, and you're building infrastructure and services and things like that for the future. And so as you start thinking through financial professionals that you want to work with, there are all sorts of shapes and sizes, right? There are what we would call a solo advisor, someone who's just by themselves, and maybe it's a more intimate relationship. And even if they're not growing their team, they might be still be growing their business. They might still be anticipating the future and thinking about how you can succeed. I think that's the important principle. It's just you want someone who is anticipating your needs in the future, because you're building wealth, and when you're building wealth, needs and things change.
The Future of Wealth Management [27:14]
Gideon: Inevitably, it gets more complex; it always does. It never goes the opposite direction, where, all right, I needed that complexity, but actually, in five years, it's going to be more simple. But the one-on-one relationship is important. Every client of Drucker Wealth has a lead planner that they are working with, and we like to say, almost like they're a relationship manager, because the way we've built out the team, there are in-house CPAs, there's the estate planner, and there's the client service team. But it's all filtered through the relationship, which is what we find that each of us primarily does, that everything is funneled through. Because you don't want nine people reaching out, you want that coordinated. But if they can all be speaking before it even gets to you, that's a pretty cool thing.
So we'll keep having some in-between parts of our conversations around planning, and how do you think about wealth. We'll have every now and then an episode about the industry, about Drucker wealth, maybe a little bit more exclusively, about what to look for in advisors. And we'll get a little bit more granular. There was a lot we stayed away from, just because I think it would take an entire 40 minutes to explain the thing before we got to the point. But we want to mix these in, because if you're at the stage of life that we're talking to, you're thinking about this, you're having questions, maybe you decide I want to do it myself forever and ever. These individual episodes might not be the ones that marinate, but it's good to know what's out there. It's good to know what you're missing and what you're enjoying. So we'll sprinkle this in as we go.
Next week, we'll be speaking about family and education planning, how we think through that as part of your broader financial plan. And again, if you have questions, ideas, or anything you want us to speak about? Share, please write in the comments, and we'll see you next week.
