Letter To The Editor: Wealthy Clients Don’t Want To Divulge Their Financials

Kathy Halverson writes: I read with interest your June 2005 editorial comment on doing needs analysis. My client base comprises mostly the wealthier clients who want choice and independence in their later years. They have worked very hard for their money and insured everything in the process—smart move!

For me to ask questions about their assets, income, etc. would totally breach their confidentiality. Usually, their financial planner or investment advisor has recommended they call me to research LTC insurance. I prefer to give them scenarios and examples of appropriate elimination periods, etc. They like not having to divulge their "financials" to yet another individual.

Funny thing, though: In the end, I get all the numbers.

Poor selling? Smart selling? I don't know all the answers, but it surely works for this type of client.