You make a difference.
In This Issue
Building Your Practice
"How to" Corner
From Our Readers
Building Your Practice
Marguerite Lorenz, CTFA, CLPF
Connect with Marguerite Lorenz View our profile on LinkedIn
Too late for the Call for Proposals, but you can still forward the Exhibitor/Sponsor packet this month:
As Co-Chair of the Professional Fiduciary Association of California Annual Conference in Anaheim, April 25-28, 2012, I am inviting you to invite other professionals you want referrals from to this event!  This is a great opportunity for you. 

Reach out to the other professionals you know with our Sponsor/Exhibitor Packet, and invite them to participate in your conference (Fiduciaries, Attorneys, Financial Advisors, Realtors, Geriatric Care Managers, Home Care Specialists, Residence Directors, Bankers, and much more...). Advertising in our directory, being an exhibitor, volunteering on site or just having fun with us are some of the ways to participate!  
 
Don't be shy about forwarding these opportunities to the professionals with whom you would like to be better acquainted.  Use this conference as an "ice breaker" to talk with the people who serve the same vulnerable clients you do. 
The professionals will benefit by knowing you care about your continuing education.  The vulnerable clients will benefit by having a stronger team.

Together, we are making this the biggest Professional Fiduciary event ever!
  
Marguerite 
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Fiduciary Practice Builder
Greetings! 
What you do today, do it with love.

 
"Go confidently in the direction of your dreams! Live the life you've imagined.  As you simplify your life, the laws of the Universe will be simpler."  Henry David Thoreau
 
Love is a powerful force in the universe.  When you love your work, and love your life, your interaction with your clients and fellow professionals continues to improve.
In my "Building Your Practice" column (to the left) I have included a link to the Sponsor/Exhibitor packet for the upcoming PFAC conference.  I added a tip on how to use the conference for your benefit.  Check it out!
 
Remember that promoting PFAC is a great way to promote yourself.  Draft a nice invitation email, and add links (to the PFAC website conference information page) to the Sponsor packet to make it easy for your professional contacts to receive this opportunity, from you.

How do you love your way to a better professional practice?  Check the new "Practice Point" article and our  "How to" Corner.
 
Have a technique or idea to share? When you send your contribution to Fiduciary@MyTrustee.net please put "Here's my idea" in the subject line.  Let me know if you want credit or wish to remain anonymous.  Thanks!!

Seeing you loved and productive,
Marguerite Lorenz, CLPF #319
  
"How to" Corner 
Some great ideas for the "brand new" and the "experienced" fiduciary:
     

Marketing you and your practice is more challenging for a fiduciary than for other professions, because most people still don't know what a fiduciary is or what we do. Think of 2012 as a fresh start and an opportunity to set your intention for having the practice you want to have:

 

1. Schedule time for Marketing...

If you haven't already, before you get caught up in Valentine's preparations, update your 2012 calendar (or put this into your smartphone).  Set aside 2 hours a week for your marketing efforts. 

 

2. How to use your Marketing hours... 

Three quick suggestions:

a.  Forward a "Sponsor and Exhibitor" invitation to all the professionals you know, now; today. 

b.  Make a massage or hair appointment just for you.

c.  Write a list of client qualities your like best.

 

Make the most of your 52 opportunities a year! Want more specifics? I go into much greater detail in my Efficient Marketing article. 

   

  

If you don't tell them, they won't know!  Marguerite

  
Juggling your Life and your PracticePractice Points

 Is this what your office feels like to you?  Perhaps it is time to consider teaming up!  Less experienced fiduciaries are often looking for a more experienced fiduciary to work with.  With our annual conference coming up, this is a great time to begin thinking about what will work best for you.  Here is a quick list of just some team methods to consider:

 

  • Employment agreement or Partnership agreement?
  • Independent Contractor
  •  What work would you have someone else do that you can bill for?
  • Can part time develop into full time, if you have more time to market your practice?
  • If you could take more of the cases you like, and do a more efficient job (with help), how will your life be better?

    •  

     

    These are great topics to discuss with a business law attorney and/or your CPA and well worth the expense. Keep in mind that running a business and serving as a Fiduciary are two very different things.  Just as you continue your education for your profession, know that you will have to continue your education as an employer or partner. 

     


    From Our Readers

    Fiduciary hard at work 

     

    Dear Marguerite,

     

    My idea is to attach a vcard to emails.  It lets people easily add you to their contacts list and does not require a great deal of effort.

     

    Thanks for the marketing newsletter.  It does help to have the encouragement.

     

    -Marianne Lindholm

     

    Thanks for the idea Marianne.  I'm so happy the newsletter is worth your while!!  M

     

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

     
    Dear Marguerite,  

       I was asked to talk to a senior group.  What topics should I cover?  I only have one hour. Anonymous

     

    Thanks for your question. Here are some points I hope every Fiduciary covers during their public speaking opportunities.

      

    Here is how to find our licensing bureau:

    www.fiduciary.ca.gov

      

    Here is how to find our professional association:

    www.pfac-pro.org

      

    Fiduciaries have continuing education, each other (professionals) to talk to and a Code of Ethics.  Family members rarely, if ever, have any of these.

     

    Family members, who are also beneficiaries, have built in conflicts of interest.

     

    Explain all the roles in which a Fiduciary could serve, including the ones you specialize in.

     

    Explain the Estate Plan documents under which we serve.

     

    Explain Probate and Conservatorship.  Remind everyone that both can be prevented.

     

    Working with an attorney to get one's Estate Plan in writing is critical, as it is not just the documents, but the attorney/client relationship and ongoing advocacy that are important. 

     

    Never download documents from the internet and think you have a complete Estate Plan. (Repeat the above)

     

    We are a special profession with more reporting requirements than attorneys or CPA's.  In order to renew our license, every year, we have to list any and all cases we have served on and any that have closed and why they have closed.  Attorneys, CPA's and Bank Trust Officers do not have to do this.  (if you would like to offer specifics on this, read our book [pgs 10-13], Ethics for Trustees) 

     

    - Just the above topics fill up an hour for me.  Make sure your handouts have both your contact information and the contact information for PFAC.  I suggest that you always include PFAC, otherwise your presentation might be considered just a sales thing instead of the valuable education it is. 

     

     

    Marguerite

     

     

     
    You are receiving this Fiduciary Practice Builder (a sometimes monthly newsletter) because you signed up or someone in your life thought you should have it. 
    Please consider forwarding it to others to keep teaching professionals and potential clients about Fiduciaries. 
      
    Our mission is to continually improve our individual fiduciary practices, to improve the way fiduciaries educate all of our potential clients and to inform our fellow professionals about the value of Licensed Fiduciaries.

    Every day, more people learn that Fiduciaries are here to serve them.  Keep teaching!!  
      
    Thank you for being a Fiduciary,

     


    Marguerite Lorenz, CTFA, CLPF #319
    Fiduciary Practice Builder