Multi-Generational Planning and Community Building with Akemi Dalvi

In this episode, Steve talks with Akemi Dalvi, CPA, CFP from Kondo Wealth Advisors about serving a niche community and fostering meaningful multi-generational conversations.

After graduating college with a degree in accounting, Akemi did what many other graduates do: she joined a big four firm. Craving more meaning and a healthier work-life balance, she joined her father at Kondo Wealth, the advisory firm he started. At her father’s firm, she specializes in helping Asian Americans plan for retirement and achieve long-term financial goals.

At Kondo, Akemi realized the importance of including every generation in the financial conversation. When clients reach retirement, their primary concern is ensuring their children have a smoother transition than they did.

Akemi talks with Steve about overcoming the financial taboo prevalent in so many Asian American households, the power of community and education in fostering the financial conversation, and her father’s best financial advice.

“There are a lot of people who are technically able to help any one of our clients with their finances, but money is so personal that it’s the intangible soft touch that is what they’re really vetting us for at these events. And then once they feel like that’s somebody I could really open up to about my finances, that’s what opens the door to a long-term relationship.” ~ Akemi Dalvi

Main Takeaways

  • COVID-19 created more pathways for multi-generational planning. The pandemic emphasized the importance of planning while virtual meetings allowed younger generations a sneak-peak into their parents’ financial plans. These natural conversations helped parents feel like their kids were assisting without taking over.
  • Younger clients find value in goals-based financial planning. If you can successfully guide younger clients through goals-based planning, they become an ideal client in the long-term.
  • It’s important to view planning through a multi-generational lens because plans will always impact multiple generations.
  • Whether the situation is good or bad, clear communication is always critical.

Links and Important Mentions

Subscribe and Stay in Touch

The contents of any report published herein are for informational and educational purposes only. The articles are not to be construed as investment, tax, financial, accounting, or legal advice. Individuals should seek independent advice from a tax professional based on his or her individual circumstances.

The analysis contained in any publication published or otherwise disseminated by Buckingham Strategic Partners (BSP) on this site is based on the data available at the time of publication which may become outdated or otherwise superseded at any time without notice, and the opinions of BSP. Certain information contained therein is based upon third-party sources, which BSP believes to be reliable, but is not guaranteed for accuracy or completeness. Neither the SEC nor any other federal or state agency or non-U.S. commission has confirmed the accuracy or determined the adequacy of information published or disseminated by BSP. Any publication or dissemination of information to the contrary is unlawful. Each reader acknowledges the contents published or otherwise disseminated by BSP is the sole property of BSP and any reproduction or distribution of such information, in whole or in part, other than for its intended purpose with credit provided to BSP, is prohibited. BSP reserves the right to remove, alter, edit, or adapt any third-party content published, contributed, or subject to applicable law.

By clicking on any of the links within the articles on this site you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements or representations whatsoever by us regarding third-party Web sites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through them.