I can share with you that one of my best sources for new clients is my Do-It-Yourself Retirement Classes. During both my DIY Retirement Planning and DIY Dividend Class, I explain what I do with clients, what I’ve learned over the years, and provide free tools and resources for people to use on their own. Attendees are also allowed to ask any questions they want. Now you may think I’m giving away the store but what inevitably happens is that people sit back and say, “Ok, I get it; but I don’t want to do all that work.”
Imagine telling a group of prospects most of what you know about retirement planning and portfolio management within a couple of hours, and then telling them to just go do it. Most of people who attend classes like this are not do-it-yourselfers. They either don’t know where to begin, or are afraid of getting burned. They know they need more information because retirement is approaching very quickly. As a result, the context of the advice provided changes; and our industry gets re-branded into one of teachers and information providers, rather than salespeople, information hoarders or Ponzi-schemers.
Whether it’s staying relevant, becoming more influential, or changing the context of retirement advice, advisors need to continue to use retirement’s never-ending evolution to improve the lives of their clients and extend the brand and capacity of the industry. Going forward, I’m convinced that there will be times when we as advisors will need to look beyond the dollars and cents and help clients manage what’s happening on the inside. During other times, our role will require us to deal with more traditional and external issues such as money and investing. As a result, we have to be ready, willing, and able to find and implement solutions that solve both sides of the equation.
Robert Laura is the creator of the Retirement Wellness Report, co-founder of RetirementProject.org, and author of Naked Retirement. He can be reached at [email protected]. Please connect with him on LinkedIn and follow him on Twitter @robertlaura.