Demographics and characteristics of high net worth clients are covered first in this module. Then an analysis of the six-step wealth planning process is covered with the topics of building a trusting relationship; evaluating the high net worth client’s financial status and teamwork; and developing, presenting, implementing, and monitoring the financial planning recommendations. Emotional intelligence necessary for a planner to use and possible behavioral client issues are also analyzed. Finally, in reaching client goals, the wealth allocation framework and goals-based financial planner are evaluated for use with high net worth clients.

Author: Craig Kinnunen, MS, CFP®

Craig Kinnunen, MS, CFP®is an associate professor at the College for Financial Planning. Prior to joining the College, Craig enjoyed a long and successful career in personal financial planning and wealth management. Craig’s enthusiasm for financial planning extends beyond the classroom, as he also spends time providing pro bono financial education and individual financial counseling to members of the Colorado National Guard. Craig earned a bachelor of science degree in accounting from Northern Michigan University and followed that up with a master of science degree in finance from the University of Colorado in Denver. You can contact Craig at craig.kinnunen@cffp.edu.

Complexity Level: Intermediate