On the question posed in our title, we find ourselves in the unfortunate position of having to counsel ‘yes’.
Extensive divorce has been a fretful reality for decades and the possibility often must be factored into general financial planning. Enter the Certified Divorce Financial Advisor, or CDFA.
The CDFA is certified to oversee all financial matters related to divorce. Proficiency is gained via a comprehensive training course administered by the Institution for Divorce Financial Analysts. CDFAs can provide advice to clients before they marry, during the dolorous process of divorce itself and well into the post-divorce period.
If your advisory staff includes a CDFA, clients benefit in two ways. Divorce is a process fraught with opportunities for error. Clients need the specialized advice that CDFAs are trained to supply. They can also provide specific guidance on property matters, child custody and support issues and the emotional confusion and strain that invariably accompany divorce.
If a client is suffering through a divorce, your practice will need to call on the services of divorce attorneys and tax specialists. A CDFA is the perfect liaison with these professionals, comfortably placed to ease communications and help avoid potentially costly misunderstandings.
Your business can also gain new clients simply by having a CDFA on its rolls. As people become aware of the specialized services these advisors provide, they will likely search for them anxiously if a divorce is looming. A marriage’s breakup is perhaps beyond regrettable, but entering the fray without proper advice could lead to a lifetime of further regret.
For more, please see:
What is a Certified Divorce Financial Analyst? | Wealth Management