This week, Cordell & Cordell Principal Partner Joseph Cordell talked about the importance of fathers and their parental rights on Love 860 radio, based in the Atlanta area. Mr. Cordell also contributed acolumn about financial advisors and preparing for clients going through divorce to Financial Advisor magazine.
In his August 2014 article, “Five Steps to Helping Divorcing Clients,” Mr. Cordell outlines different actions financial advisors can take to better prepare themselves for dealing with clients going through divorce.
Mr. Cordell emphasizes the importance of obtaining Certified Divorce Financial Analyst accreditation as well as sharpening marketing focus, getting information out about accreditation and experience, developing a revenue model for divorcing clients and, ultimately, cultivating a divorce-friendly environment.
“Relationships formed during those trying times not only take a weight off the shoulders of the person going through a divorce but also help create enduring associations that can last for decades after the divorce is finalized,” said Mr. Cordell.
This week, Cordell & Cordell opened a new virtual office in the downtown Denver area. Cordell & Cordell has more than 100 offices across the country. MensDivorce featured an article regarding trends with divorce in social groups or among friends. DadsDivorce discussed three important things to not do during a divorce.
While divorce itself is complicated, divorce with financial issues can be even more difficult.
“There can be a client who’s struggling to understand the arcane rules of divorce, and then throw in the emotional overlay of divorce, and there’s this whole set of rules and uncertainties associated with how their assets are going to be configured at the end of this process,” said Mr. Cordell.
He discussed the importance of hiring a certified divorce financial analyst. Mentioning that this type of position can be a challenging one on its own, he acknowledged that doing such a job while helping someone in a divorce can be even more complex.
During this time, clients’ emotions are high, and thought processes are not always clear, thus the financial advisor must be able to help such a client make rational decisions with his or her assets, money and future plans.
Mr. Cordell pointed out the legal obligation of hiring a lawyer who represents only one side, but drew parallels to the importance of hiring one financial advisor who would then oversee only one client’s side with finances.
Find audio from this interview below.