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The Case for Having A Lawyer As Your Financial Planner
The average person does not interact with their attorney on a regular basis. Years ago, I came across one possible exception when I noticed his wall phone included two buttons labelled "Lawyer" and "Lawyer at home." Wouldn't it be great if you could have an additional stream of ongoing business from clients on a regular basis? Perhaps you and your firm should also be their financial planner.
The accounting industry picked up on this idea years ago when the big accounting firms set up subsidiaries offering management consulting services. Lawyers are in an ideal position to offer impartial investment advice because they are fiduciaries.
You could describe the fiduciary relationship in your sleep. The problem is most people do not understand why they need independent, objective advice. Even worse, they think they are getting it from people who are getting paid to sell products.
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