Retirement%20Discovery

1
Retirement Discovery
2
An aging population
3
The importance of the retirement market

• Account consolidation
• Change in client psychology
• Shift away from accumulation
• Need for relevant advice

4
Why take a different approach to Retirement
Planning?
5
Retirement Planning (from An Advisors Point Of
View)
Investment Management
Tax Planning
Estate Planning
Income/Cash Management
Charitable Giving
6
Retirement Planning (from a clients view)
What might affect our lifestyle?
Will I have enough?
How will I spend my time?
Am I still useful?
How long will my health hold up?
What will happen when I am gone?
Will I have to make a move?
7
What must you understand?

• Client Discovery

8
The Role of Money

• Money equals security
• Money dictates lifestyle
• Money creates independence
• Money helps family
• Money creates a legacy

9
Three Keys to Discovery

1. Understanding how clients think and act
2. Uncovering issues they havent dealt with
3. Clarifying present concerns they have

10
The Discovery System
Setting the Stage
Self-Examination
Emotional Discovery
Financial Discovery
11
Setting the Stage
12
Explaining what you do

• Structured approach
• Understanding life issues
• Tying discovery to financial planning
• Setting the stage

13




Self-Discovery

14
Maslow explained it.
15
Healthy Aging
Workplace options
Financial Comfort
Clarify the vision
Your Retirement
Nurturing Relationships
Accommodation Needs
Balanced Leisure
16
The Discovery Meeting

• Set the stage
• Discuss self-discovery issues
• Clarify with emotional discover
• Bridge to financial discovery
• Agree on next steps

17
Emotional Discovery
18
Developing High Value Questions
Vision
Family and relationships
Health
Accommodation
Work
Financial comfort
Leisure
19
Bridging to Financial Discovery

• Summarize discussion
• Get Client to prioritize life issues

20
Helping My Family
Helping Children
Helping Parents
Unexpected Demands
Keeping them involved
My Lifestyle
My home
Leisure and Travel
Protecting My lifestyle
Work options
Anticipating the Future
My will and Instructions
Health Changes
Life on my own
New opportunities
Having Financial Comfort
Managing Nest Egg
Lifestyle income
Minimizing Taxes
Budgeting
Leaving a Legacy
Updating Plan
Charitable Giving
Living Legacy
Passing on My business
21
Advisor approach to the account of Mary Smith
Protect Marys Estate
Review current investments
Review Tax Issues
Identify Legal Issues
Plan for the Future
Assess Income Needs
Potential Health Issues
Maximize Estate
Manage Marys Assets
Flexibility
Layer income
Consolidation
Monitoring changes
Help Marys Family
Communications Plan
Consider Family wishes
Identify Family Needs
Create Legacy
Living Legacy Opportunities
Grandchildren
Charitable Giving Strategy
22
What does this mean to you?
23
What changes will you make?
I am going to start doing. I am going to stop
doing. I am going to continue doing