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Financial Planning for NextGen Investors with Andy Krafft
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As a new breed of investors emerges, they bring with them unique perspectives, aspirations, and ambitions. This tech-savvy and forward-thinking generation demands a level of engagement and planning that is far more in-depth and tailored to their specific circumstances and goals.
In this episode, Steve talks with Andy Krafft, Financial Planner at Luminary Wealth. Andy is a nextgen advisor who joined his father's firm over five years ago after a successful career at Ernst & Young. Andy serves late millennials and early Gen Xers.
With a burning desire to work directly with clients, Andy talks about his thought process of serving next-generation clients, the three Ts of client experience, and how he uses LinkedIn to find new clients and referrals.
Key Takeaways
[02:25] - How Andy became a member of Luminary Wealth.
[04:19] - Andy's professional background before joining Luminary Wealth.
[06:19] - The reality of working directly with clients.
[08:46] - Challenges and benefits of working remotely.
[10:56] - Andy's thought process as a next-generation advisor.
[20:12] - The three Ts of client experience.
[22:27] - How Andy uses LinkedIn to find new clients and referrals.
[28:46] - How Andy educates his clients about various financial services.
[33:10] - The role of AI in financial advisory services.
[35:21] - Andy's favorite thing about his work.
Quotes
[12:34] - "Next-gen clients have different needs and wants. They want more of a partner than an advisor who is just there to tell them what to do. They want somebody who can help guide them and help them think through big life decisions." ~ Andy Krafft
[20:56] - "Clients are hiring us because they want a detailed answer. They don't want something that they could get on Google." ~ Andy Krafft
[33:10] - "AI will roll out new tools that allow us to offload some of the work we don't want to do. But it will never replace that human aspect of it. As long as we're working with humans, there will always be a human element that can't be replaced." ~ Andy Krafft
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Disclosure
For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively, Buckingham Wealth Partners)
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