Financial advisors need to turn the page on the way they're used to talking about retirement with clients, says 3D Asset Management, a provider of turnkey asset management programs for advisors.
There are six key issues that advisors need to consider as their clients age, says 3D Asset Management.
“The retirement income opportunity for advisors will be huge during the next few years and we want to give the advisors the support they need,” says Sheryl O’Connor, principal and managing director of the firm, along with John O’Connor.
To do this, 3D identified six strategies that are used during the accumulation phase for clients that need to be viewed by advisors in a new light:
No. 6. Don’t be an asset manager: Be a plan manager.
Retirement income planning is more about managing your clients’ emotions and life events than it is about managing their money.