CSLP advisors, student loans, and financial planning

We've added a number of financial professionals to our podcast series who share information about the growth of their practices as it relates to student loan advising. The mix of interviews

 includes early-stage practices in business for less than 2 years, and also those with over 10 years of experience. We have financial planners, tax advisors, certified public accountants, investment professionals and those focused on insurance.

More favorable experiences and new client opportunities

One common theme that comes across clear and strong is that there is a serious need and significant market opportunity for qualified advisors who emphasize their advanced knowledge of student loan repayment planning.

The recent group of podcast episode participants had numerous positive experiences to report. Aside from the increased confidence in how to work with clients who are repaying student debt, many spoke about the increase in their business performance.

Advisors reported that the advanced knowledge found in the CSLP program has helped them become a lead magnet! In the episodes you will hear how some have become resources for other financial advisors to provide case consultations and receive referrals. 

We also heard of those who are now receiving opportunities for public speaking on the hot topic of how to help with the student debt problem. Incorporating the topic of student loans in the content of financial planning draws a much larger audience due to the size of the issue. And the audience not only includes potential clients, as noted above, but it also opens up referral relationships with other financial advisors.

Student loan repayment requires a complete financial plan

Student loan planning and the achievement of other financial goals

By understanding the nature of student loan repayment, one can potentially help the client with loan program revisions to enable saving and investing. The result may uncover more investible assets than originally perceived when limiting your view to the current student debt payment.

Revised thinking based on new knowledge can create a fresh opportunity to begin work on a client's financial goals now, versus at some distant point in time when the debt is repaid.

Financial advisors talk student loan planning

Listen to the episode with Patti Hughes to learn how she helped a couple with 6 figure loan balances. Patti is President of Lake Life Wealth Advisory Group and a sought-after speaker on comprehensive financial planning topics.

Meagan Landress shares about the success of her young practice and how the CSLP program has helped her easily expand into the millennial market because of the specific financial issues they are most concerned about.

David Hessel spoke to us about how he was surprised at the depth of content in the program and how it has opened up a new market of clients. He also pointed out that by highlighting his new knowledge, he has been able to generate more opportunities for services.

The ROI question and being the best advisor possible

A common theme of being the best advisor possible ran throughout these conversations. Patti suggested that you should seek to provide the "best solution, not just a good solution."

Unfortunately, many financial professionals consider student debt just another debt to be repaid and give it no consideration in the planning process.

The ROI of student loan repayment planning

The CSLP program is a relatively small investment. The impact on one client with student loans can be the beginning of a lasting relationship. The draw of other professionals who want a go-to resource or the number of new clients gained can have immense value. And with all of the monetary value gained from offering such services, perhaps the sense of satisfaction from helping people experience relief, peace of mind, and the ability to focus on all of their financial plans is priceless.

Visit the podcast page here and subscribe for updates as we continue to publish more interviews and discussion on the problem and solutions to student loan debt.

How to avoid advising mistakes with clients and student loans

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Larry Taylor, PhD

Written by Larry Taylor, PhD

Larry has over 20 years of experience as a marketing technologist and developer of financial education programs. One of his primary missions is to help professionals establish greater trust in their online audiences and to humanize digital communications. Larry holds a Ph.D. in Psychology with an emphasis on media.

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