Coordinated Counsel
Advisors not Communicating with Each Other
Transcript
BARRY:
Let’s see, number nine, which admittedly sounds self-serving, is not having professional advisors, and those advisors not communicating. Or if you do have advisors, those advisors not communicating amongst each other. Well, I guess.
CHAD:
This number is, in a sense, what prompted us — I mean, we enjoy working together anyway — but it prompted us to really have this dialogue because there’s a lot of– Let’s start with just the professional advisors.
First, there’s a lot of free services out there. There’s LegalZoom. In the investment world, you have a lot of robo-advisors out there now where you can just go on and make your own investments. But, you know, those people aren’t — there’s no backing behind those systems by people who are educated in those areas. They’re very generic. You can’t really customize them to your particular situation.
And so, not having a professional advisor who specializes in the client’s particular situation, because no situation is alike, could be detrimental.
And with regards to the advisors not working together, you know, this is a big problem. Because I run into scenarios a lot where either I’m the investment advisor and they have an insurance person, or I’m the insurance advisor and they have an investment advisor. And both of us may be doing the same work and can be giving the client different advice.
So if we’re not communicating, not only are we going to be more likely to confuse the client, the advice can be contradictory. And a lot of times, when there’s contradictory advice and the client is confused, they decide not to implement anything whatsoever, which is just as detrimental as implementing the wrong thing.
Also, with respect to working with an estate planning attorney like yourself, our worlds are very interrelated. There are a lot of times where the estate planning attorney will work on the legal side but need financial vehicles in order to implement some of the things they’re trying to do on the legal side, and vice versa.
And so having the advisors sit down in the same room together — or nowadays, the virtual Zoom room — it just creates confusion. It could create duplicity and make what could be a simple situation much more complex than it needs to be.
BARRY:
I would piggyback on that by just saying that, philosophically, we view this stuff as a team sport. We don’t want to work with people who are going to silo themselves and not collaborate, because it’s always interrelated, and it doesn’t do the client a service. It does them a disservice if everybody’s working independently and not communicating with each other about your planning. So we try our best. Not everybody’s on the same page about that.
CHAD:
And no one can be a jack of all trades. You know, I have my CPA license and my law license, but I’m not doing the tax prep work or the estate planning documents for my clients. There should be people on our team who specialize in those areas. That’s how you get support.
BARRY:
Similarly, I have a master’s of law in tax. I speak tax, but I don’t prepare returns. So I wouldn’t give the type of technical advice you’d rely on when talking to a CPA.
CHAD:
CPAs are very important to be a part of the conversation as well.
BARRY:
Yeah, yeah. That’s a quick one. I mean, it is what we do. You and I agree that it’s a trifecta. It’s a team sport, and it’s a mistake to think otherwise and just go with one of these professionals who aren’t talking to each other yet.
Why Your Advisors Should Talk to Each Other Before You Make the Next Big Decision
By: Barry E. Haimo, Esq.
December 4, 2025
When it comes to protecting your wealth, business, or family, most people understand the importance of hiring professionals. You have your CPA for taxes, your attorney for legal matters, your financial advisor for investments, and maybe even an insurance expert in the mix.
But what happens when these professionals never actually talk to each other?
Too often, clients end up with fragmented advice, each expert working in isolation, unaware of what the others are recommending. The result? Overlapping strategies, conflicting guidance, or worse, inaction born from confusion. And when that happens, the person who loses is you.
The Danger of Disconnected Advice
Imagine this: your investment advisor suggests reallocating funds to optimize your returns. Meanwhile, your insurance advisor is recommending new coverage that assumes those same funds will be available for premiums or liquidity. Your estate planning attorney, unaware of either conversation, drafts documents that don’t account for the investment or insurance changes at all.
None of these professionals are “wrong,” but without communication, their advice may cancel each other out. Or, worse, cause expensive mistakes. Sometimes, when people gets contradictory advice, they do nothing at all. In estate planning and financial management, that can be just as damaging as doing the wrong thing.
A Team Sport, Not a Solo Game
The best results happen when your advisors work as a unified team. Estate planning, tax strategy, and wealth management are not separate disciplines, they’re interconnected layers of the same foundation. A good plan isn’t just about what happens in one area; it’s about how each decision impacts the others.
That’s why the most effective professionals view client service as a team sport. A coordinated team can identify gaps, prevent redundancy, and create a strategy that’s stronger and more resilient than any single perspective could offer.
Why “DIY” and One-Stop Shops Fall Short
In the age of online services like LegalZoom or robo-advisors, it’s easy to think professional collaboration isn’t necessary. But these tools, while convenient, can’t tailor strategies to your unique situation or anticipate how one choice affects another.
Even among professionals, no one is a “jack of all trades.” A financial advisor shouldn’t prepare your taxes. A CPA shouldn’t draft your will. A lawyer shouldn’t rebalance your portfolio. Each role requires specialized expertise — but that expertise is most powerful when it’s shared.
Building Your Own Advisory Trifecta
The takeaway? Don’t just hire advisors — build an advisory team. Choose professionals who are willing to communicate openly, share information, and coordinate strategy. Encourage your CPA, attorney, and financial advisor to meet (or at least exchange notes) about your plan.
When your advisors talk to each other, they work for you instead of at cross-purposes. You get clarity instead of confusion, synergy instead of silos, and confidence instead of hesitation.
Because at the end of the day, wealth, business, and family planning aren’t solo efforts. They’re a team sport, and your future deserves the best team you can build.
Want our help? Reach out.
