A Big Picture Approach to Planning for Life Goals Can Help You Stand Out

August 5, 2014

Retirement planning isn’t just about helping clients meet their financial goals.

Retirement planning isn’t just about helping clients meet their financial goals. It’s about helping clients meet their life goals. Help your clients and, at the same time, help yourself.

There’s a direct trade-off between spending money in retirement and providing a financial legacy for heirs. Obviously, the more spent in retirement, the less there may be for heirs. A recent update to a 1999 report by the Center on Wealth and Philanthropy (CWP) of Boston College estimates $59 trillion of wealth will be transferred between 2007 through 2061.1

Beneficiary planning is valuable because it can help make sure a financial legacy is adequately planned for and that assets are transferred to beneficiaries smoothly.

So, when helping clients plan for retirement, don’t miss the opportunity to help them plan their legacies, too.

Adding beneficiary planning to client discussions can take the focus off a single issue, such as accumulation, and give you the opportunity to broaden discussions.

 By including beneficiary planning in your practice, you may be able to:

  • Have a better, more holistic understanding of your client.
  • Position a big-picture approach to your value proposition.

This approach could give you an opportunity to uncover additional assets owned by your clients and/or obtain referrals for your comprehensive planning practice.

All of this information, as well as other legacy planning pieces, have been specifically designed for you to use to help your clients meet their life goals – and, at the same time, for you to find out more about your clients and discover new opportunities for yourself. Take a minute and review the materials. We think you will be glad you did.

If you have any additional questions, please feel free to contact Retirement Strategies Group at (800)722-2333, ext. 3939, or e-mail us at RSG@PacificLife.com.

 

 

1Source: Havens, J., Schervish, P., A Golden Age of Philanthropy Still Beckons: National Wealth Transfer and Potential for Philanthropy Technical Report, May 28, 2014.

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