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

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Steve Atkinson

Steven Atkinson

Managing Director, Advisor Relations

For 25 years Steve has helped advisors get into the RIA space and/or helped them grow by developing and sharing a variety of client experience best practices. Steve was an original architect of Buckingham’s Design | Build | Protect® client experience process along with the Life Discovery and Feedforward programs. Steve is also an author of The Wealth Solution and 27 Principles Every Investor Should Know. He is also the host of the Admired Advisor podcast. Steve is a graduate of the University of Nebraska at Omaha with a Bachelor’s in Finance and Investment Banking. Steve lives in Edwards, CO and enjoys spending time with his daughters skiing in the winter or golfing in the summer .