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Retirement Discovery

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An aging population

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The importance of the retirement market

Account consolidation

Change in client psychology

Shift away from accumulation

Need for relevant advice

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Why take a different approach to Retirement Planning?

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Retirement Planning(from An Advisor’s Point Of View)

InvestmentManagement

Tax Planning

Estate Planning

Income/Cash Management

Charitable Giving

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Retirement Planning(from a client’s view)

“Will I have enough?”

“How will I spend my time?”

“How long will my health hold up?”

“Will I have to make a move?”

“Am I still useful?”

“What will happen when I am gone?”

“What might affect our lifestyle?”

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What must you understand?

Client Discovery

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The Role of Money•Money equals security

•Money dictates lifestyle

•Money creates independence

•Money helps family

•Money creates a legacy

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Three Keys to Discovery

1.Understanding how clients think and act

2.Uncovering issues they haven’t dealt with

3.Clarifying present concerns they have

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The Discovery System

Self-Examination

Setting the Stage

Emotional Discovery

Financial Discovery

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Setting the Stage

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Explaining what you do

Structured approach

Understanding life issues

Tying discovery to financial planning

Setting the stage

Self-Discovery

Survival

Safety

Sense of Belonging

Self-Esteem

Self-Actualization

Maslow explained it….

Clarify the vision

Healthy Aging Workplace options

Financial Comfort

Nurturing Relationships

Accommodation Needs

Balanced Leisure

Your Retirement

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The Discovery Meeting Set the stage

Discuss self-discovery issues

Clarify with emotional discover

Bridge to financial discovery

Agree on next steps

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Emotional Discovery

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Developing High Value Questions

Vision

Health

Work

Leisure

Family and relationships

Accommodation

Financial comfort

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Bridging to Financial Discovery

•Summarize discussion

•Get Client to prioritize life issues

MyLifestyle

Anticipating theFuture

Having FinancialComfort

Leaving aLegacy

Helping MyFamily

HelpingChildren

HelpingParents

UnexpectedDemands

Keeping them involved

My homeLeisure and

TravelProtectingMy lifestyle

Workoptions

My will andInstructions

Health Changes

Life on my own

Newopportunities

ManagingNest Egg

Lifestyleincome

MinimizingTaxes

Budgeting

UpdatingPlan

CharitableGiving

Living Legacy

Passing onMy business

Advisor approach to the account of Mary Smith

ProtectMary’s Estate

Plan for theFuture

ManageMary’sAssets

HelpMary’s Family

CreateLegacy

Review currentinvestments

Review TaxIssues

Identify LegalIssues

Assess IncomeNeeds

Potential HealthIssues

MaximizeEstate

Flexibility Layer income ConsolidationMonitoring

changes

CommunicationsPlan

ConsiderFamily wishes

Identify FamilyNeeds

Living LegacyOpportunities

GrandchildrenCharitable Giving

Strategy

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What does this mean to you?

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What changes will you make?

I am going to start doing….

I am going to stop doing….

I am going to continue doing…