The Singularity Conversation

Advisor: “OK, then. We’ll create projections so you don’t run out of money until age 95.”

Clients: “That works for us.”

And off you go to create a plan that will almost certainly blow up because the future it’s based on will be so much bigger than most planners and their clients can imagine. In fact, many financial planning software programs don’t allow you to project past age 99!

Is it really your job to help clients have an understanding about things that could radically change their futures so they make better decisions? Whose job would it be if not yours?

Too many advisors think their job is only about money, so they study money and dispense financial advice from a perspective about a world that’s not going to exist. Really, your job is to help people prepare for the future. So, shouldn’t you be studying the future?

This is how the most trusted advisors approach their clients and advice. Here’s how you get the ball rolling for this crucial conversation in a simple e-mail with an article attached. (The article is from Time magazine and makes a nice introduction to the Singularity: http://content.time.com/time/magazine/article/0,9171,2048299-1,00.html.)

“There are important things happening in the world that could substantially alter your plans for the future,” says your e-mail. “Please read this article and let’s discuss this further at our upcoming meeting.”

At the meeting, consider questions such as these:

“What were your thoughts about the article and the Singularity?”

“What do you think the implications of the Singularity might be on your futures?”

“What adjustments to your goals would you like to consider in light of the Singularity?”

It’s not your job to predict the future. It is your job to help your clients prepare for a variety of future scenarios. Consider “what-ifs”—that they might need to postpone their retirement, keep their skills sharp, keep their CV up to date, make plans to go back to work at a later date, explore other money-making options like starting a business, etc. Talk about them improving their physical fitness. How would people who might live to 150 take care of themselves?

And what about you? How much longer will you have to work? What adjustments will you have to make in your business to work more effectively with the machines? At the very least, keep this in mind: In any battle between machines and humans, the machines always win. Do not compete with the machines!

Bill Bachrach and his team train the best Financial Advisors in the world, and those who aspire to be, to create their Ideal Life, build their Ideal Business, and work with Ideal Clients. [email protected] /619-255-4888.