top of page

Create the PFO Legacy

"Here is a simple but powerful rule: always give people more than what they expect."

 - Nelson Boswell

WHY is this important?


Why is creating a PFO Legacy important? First, here is what we know about most clients:

  • They are often disorganized when it comes to many aspects of their financial world

  • They are unaware of the various pieces of their wealth puzzle and are unsure of the next steps

  • They are looking for trustworthy leadership and guidance for their wealth management

  • They want financial peace of mind – know everything is cared for and their family will be okay

  • One of them worries about the thought of something happening to the other – but may never bring it up


Times are Changing


ALL clients are becoming more informed, expect more from an advisor for the fees they pay, and will leave their advisor if all they do is provide investment advice – they can get that far cheaper through other investment channels. Media messages are hammering this inherent lack of service from advisors’ home – your clients are seeing, hearing, and reacting to this. In addition, sources indicating that:

  • The 55 – 75 age group is the most underserved when it comes to financial planning – and they are the ones who need it the most

  • This group is often retired for 10, 20 and even 30 years or more – they still have goals, but it’s not getting ‘to retirement’ anymore its ‘living through it’, ‘enjoying life’, ‘minimizing taxes’, ‘not outliving their money’ and ‘leaving a legacy’ to those they care about

  • The 55 to 75 age group controls approximately 70% of the wealth

Who is this proven strategy designed for?


For Advisors who want to demonstrate continued value to their clients and in doing so make a meaningful difference in their lives by carefully monitoring all the various aspects of wealth management they are relying on their Advisor for.

WHAT should you expect?


  • Use the PFO to simplify and organize wealth management for your absolute best clients

  • Have the PFO become a significant part of your branding

  • To become the ‘go to’ person as it relates to any topic on wealth

  • To connect meaningfully to the ‘other half’ of the relationship

  • Maintain high levels of compliance with your clients through a documented process

  • Demonstrate a high standard of care & accountability that will contrast you favourably to other advisors

HOW to Take Action & Implement Successfully?


To get re-acquainted with the PFO Concept, review Enhance Your Branding with the PFO which was previously covered in Pillar 3: Client Onboarding – The 3rd Appointment. If it has been a while since you have been active with your PFOs, you may want to review the entire module.

Create a Process that Focuses on Bringing & Discussing their PFO

  1. When scheduling Review Meetings with clients who have PFO Binders, it is important they are prompted and reminded to bring their PFO Binder in as part of the process.

  2. When confirming Review Meetings with clients who have PFO Binders, it is important they are once again prompted and reminded to bring them in as part of the process. We are helping them form a new habit and this will take consistent reinforcement.

  3. Use a Review Meeting Agenda that reinforces the PFO as the essence of how you provide wealth management solutions to your clients by simplifying, organizing & coordinating all aspects of their Wealth Management.

How to Manage the PFO Updates

  1. Review A Masterful Approach to Demonstrate Value which outlines the 3 core ways you can keep the PFO meaningful and relevant:               

    • Provide them with Updated Information You Create & Deliver

    • Give them Something New & Insightful to Think About

    • Encourage them to Update Information Others Create & Deliver

  2. Each of these will be covered in more detail below so you can choose the best combination and approach based on where you and your clients are today in relation to the PFO.                                            

  3. As part of your Review Meeting process, you need to prepare and provide your clients with updated information specifically related to the wealth management solutions and planning you have undertaken on their behalf. This would typically include updated:

    • Financial Plan and/or Financial Projections

    • Current Portfolio Summary

    • Net Worth Statement

    • PFO Summary   

  4. Additional information is provided in the A Masterful Approach to Demonstrate Value resource. Everything you provide for their PFO binder should be three-hole punched and ready to insert.                 

  5. As part of your Review Meeting process, you should give them something new & insightful to think about that will benefit them immediately or at some point in the future. This would include something directly related to the core areas of your PFO:

  6. Teams who have the most success with this approach pick one area each year to focus on educating and/or working on with their clients. We do not recommend you provide them with information in multiple sections of their PFO binder all at once because it may be overwhelming – the only exception would be if their circumstances were such that they needed it.                                                              Keep in mind you will be discussing all sections that are relevant to them regardless, but the intention here is to provide them with new information or a new resource that will directly enhance the concept of simplifying, organizing & coordinating their wealth management.                                                      Many specific examples of what to provide them are included in the A Masterful Approach to Demonstrate Value resource. Choose one new addition for the PFO this year and continue with this process each subsequent year.

  7. Finally, encourage them to keep the various types of other valuable information they may store in the PFO binder from other professionals and service providers up to date as well. This might include Tax Summaries, Insurance Policies, Mortgage & Loan Statements, Bank Statements, Contact Information for their other Professionals (CPAs, Lawyers), etc.                                                                                                  This will require reminding them and you can do this in a couple of ways:                                                    

    • Provide them with the Keeping Your PFO Up to Date & Tidy resource which is a letter and checklist providing them with specific guidance on how to keep it relevant and organized.

      1. This can be provided to your client during a meeting, as a meeting follow up, or as a separate mail-out campaign at any point during the year.

      2. You will want to customize this resource and have it fully branded to your practice.

    • Launch the PFO Spring Clean Campaign each year to help them create a habit that will continue to serve them.   

  8. Include the “It’s time to Spring Clean Your PFO” Cover Letter, which again can be customized and fully branded to your practice.

  9. Each year choose something to include with the letter that relates to the PFO such as, a plastic pouch that fits in their binder and can contain any number of items they wish to store, a branded notepad, a pen, post-it notes, or a lined pad of paper to go in the back of the binder.                                  

  10. Expect to spend some time each meeting answering questions about what goes where in the binder and helping your best clients keep it organized – this is a terrific use of your time because it provides them with the peace of mind everything is exactly as it should be.

  11. Password and identity protection are key components for everyone in this online world. Review Tips for Identity Theft Protection to better understand how to work against online dangers.  

    1. Review Password Protection

    2. If you're having a difficult time organizing your passwords, review Passwords

Watch Here to Learn More




bottom of page