Elder Law Answers (ELA) recently posted an article examining the Wealth Counsel's 3rd Annual Industry Trends Survey. For the survey, Wealth Counsel asked estate planners what practice area they would most like to add to their business model. The second most popular answer given by estate planners was client maintenance programs. Client maintenance programs operate by providing clients with certain services on an annual basis and are usually employed as a way to keep clients engaged with the firm. ELA followed up with its own survey of elder law attorneys on their use of client maintenance programs. ELA learned that law firms that established client maintenance programs report that the programs account for only a small fraction of the firm's revenue. However, most of these firms plan to continue the program based on the expectation of future revenue growth.
Posted by Wesley J. Bailey, Associate Editor, Wealth Strategies Journal.
Posted by Wesley J. Bailey, Associate Editor, Wealth Strategies Journal.
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