I’m involved in a group that regularly discusses collaboration. The discussion ranges from what collaboration is, how you get it and what keeps it from happening in the first place.
My belief is that collaboration only happens when the client wants it to happen. In our firm we believe that the client is in charge of the relationship and the first person we want to collaborate with is the client.
Sandie Maynard and I recently attended our certification program for Sudden Money®. We spent two days working with others in our profession who realize that this is an issue where financial planners and financial planning plays a very important role.
Most of us will face transitions and many of these transitions cause significant changes in our life. Susan Bradley the founder and elder of The Sudden Money Institute® has a saying I really like.
I recently spent a couple of days with a client doing what we call our Object Review. During the time that we spent together an issue came up that I see with lots of private business owners – having too much cash in the business.
I often write about Sudden Money® instances in one’s life. For a business owner this happens when they decide to sell their business, the transaction closes and they now have traded their business for a pot of money.
When one receives an inheritance there is usually a bit of sadness that accompanies the financial largess. Because we often associate receiving an inheritance with emotional strain and stress it’s often better to sit back and wait before we spend any money.