September 21, 2020 | Financial Life Planning
While much of the financial advising industry still employs a traditional “solo advisor model,” we at LifeGuide have built our firm around a fundamentally different approach: a team-based advisory approach. (This approach is also sometimes known as an “ensemble practice” or “ensemble advisory model.”)
In fact, we see this as one of the key distinctives of our firm that allows us to better serve our clients both now and—importantly—into the future.
So today we want to explore these two models and why we believe that more heads are better than one.
The financial industry’s traditional and most popular advisor model is the solo advisory model. Under this model, a single advisor is responsible for overseeing a large group of clients.
The major downfall of the solo advisory model is that a client’s success is dependent on one person. And this can lead to many negative consequences, such as:
Because of the significant downside to this traditional approach, our firm was built with a fundamentally different approach.
“The major downfall of the solo advisory model is that a client’s success is dependent on one person.”
Here at LifeGuide, we embrace a team-based model. Under this model, every LifeGuide client is assigned to a three- to four-person advisory team.
Each team consists of a Senior Financial & Life Advisor, a Lead Financial Advisor, a Service Advisor, and an Insurance Advisor:
We’ve found over and over again that this team-based advisory approach has many benefits for our clients, including:
Interested in reading more?
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