To truly be successful, today's financial advisor must strike
the right balance between effectively engaging with his or her
clients and finding meaningful ways to maintain their financial
security. By framing your mission in this way, you can help your
clients clarify their vision, build a plan to achieve it, and
manage that plan so they stay on track.
Nobody understands this better than authors Timothy Noonan and
Matt Smith--two seasoned financial professionals with over
five decades of combined experience working in the asset management
business. And now, in Someday Rich, they show financial advisors
with clients who are rich, or have the opportunity to become rich,
how to sustain a client's desired lifestyle to, and through,
retirement.
Engaging and informative, Someday Rich provides the context,
description, and implementation suggestions for the Personal Asset
Liability Model--a process that will allow you to determine a
client's funded status relative to their future spending
needs as well as develop and monitor their investment plan
accordingly. While the methods in the Personal Asset Liability
Model may not have been practically accessible to past advisors
with a large number of clients, this model now brings together the
technical methods to answer important client questions in a way
that is feasible and includes the communication strategies that can
make the delivery of the advice model more effective.
Along the way, this reliable resource discusses the business of
giving good advice and addresses how to incorporate these steps
into a client engagement road map. Insights on various other issues
associated with this discipline are also included, such as how to
develop client trust and deliver personalized service when you have
so many clients, and contingency risks--life, health,
disability, and long-term care--that need to be considered in
the financial planning process. And in later chapters, single-topic
essays, contributed by experts in the financial planning field,
cover issues ranging from target date funds and the investment
aspects of longevity risk to modern portfolio decumulation.
Building more valuable relationships with your clients is a
difficult endeavor. But with Someday Rich, you'll discover
what it takes to achieve this goal as you put them on a path to a
sustainable financial future.
