Role of the Advisor during the investor’s life journey

If we view retirement planning as part of a three stage cycle it helps define the role of the financial advisor at each stage of life.

The pre-retirement stage is one where wealth accumulation is the primary focus.  At this point the primary responsibility of the advisor is to

  • Build portfolios
  • Grow investments
  • Discuss retirement and education (college) goals.

As we get to the point of actually retiring the role of the advisor changes:

  • Know the retirement date
  • Develop income plan
  • Refine estate plan

After you retire the advisor is responsible for:

  • Manage income plan
  • Facilitate legacy plans
  • Develop ties with heirs
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