Protect Your Client’s Assets With a ‘Family Bank’
By Helen Modly, CFP, CWPA, and Sandra Atkins, CPA/PFS
One of the biggest drains on your client’s account may not be the market but rather family requests for money that may never be repaid. Preserve clients’ assets—and emotional health—by recommending the setup of a “family bank” where loan requests are reviewed, approved of, and accounted for.