Buckingham Wealth Partners Head of Planning Research Michael Kitces, and Director of Advanced Planning Jeffrey Levine were both named two of the 25 top industry leaders on the IA25 as decided by readers of Investment Advisor. Buckingham is one of only three firms to have multiple leaders named to the list.
Both Kitces and Levine shared insights into how advisors can best serve their investor clients during this health crisis.
Kitces encouraged advisors to recognize client stress and desire to do something to “protect” themselves instead of just stay the course. “For clients who are calling and want to take action, help them to find a way to exert that energy positively to do something instead,” Kitces explained. “Perhaps it’s a small adjustment to the portfolio, or their spending, or the plan, or another action they can take to stay (or get back) on track. But don’t just tell clients don’t do nothing; instead, help them do something (that’s actually constructive).”
Jeffrey Levine shared solid advice to “control the controllables” and take action to try and influence outcomes. Steps like tax-loss harvesting, re-balancing, opportunistic Roth conversions, etc., are not going to ensure an individual reaches their goals, but they continue to positively influence the likelihood of doing so, even in these challenging times.
Levine also feels it is important for advisors to use this time to give clients greater visibility into their own lives. “Clients are often very interested in their advisors’ lives. It’s only natural, as good advisors generally spend substantial amounts of time trying to learn these things about their clients.” He further suggests, “On the next video chat, take a moment to let your kids say “Hi,” or to show them the trophy you won as a high-school swimmer or the painting your spouse made last week. The further apart we are in physical distance, the more important it is to do everything possible to bring ourselves closer emotionally.”
Sage advice shared from industry leaders.
Buckingham Wealth Partners is comprised of Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC.
Investment Advisor asked readers to vote for the top 25 industry VIPs in uncertain times. They receive 44,250 votes from 1,770 voters. The publication combined categories into an overall voting list this year to include broker-dealers, clearing and custody, RIA/advisory, fintech, investing and regulation/compliance.
The ThinkAdvisor IA25 Rankings are an independent listing of top industry leaders produced annually by the publication Investment Advisor. The 2020 rankings were determined in part by votes from readers and subscribers of Investment Advisor and Think Advisor.
Third-party rankings and recognition from ratings services are no guarantee of future investment success. Working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. Ratings should not be considered an endorsement of the advisor by any client nor are they representative of any one client’s evaluation. For more information on these ratings, click here. Read the profile on Michael Kitces here. Read the profile on Jeffrey Levine here.