Out and about around the block in the financial world today, I can absolutely say that those financial advisors who are looking for the competitive edge will need to bring to the bargaining table the ability to serve the growing and changing needs of older, retiring clients as well as those who are still in the wealth accumulation years. And it will be a juggling act as well as a challenge.
The advice-giving approach must shift from a focus on wealth accumulation to addressing different strategies for generating enough cash flow to support investors in their daily lives.
So for advisor candidates seeking new homes, definitely plan on bringing a service package that includes access to trust services, legal and health-care information and advice. Your clients of the future are going to require you to have the ability to assist and advise them in restructuring their spending patterns as their circumstances change.
AGAIN…the focus is on change!
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