Pre-packaged seminars on key topics designed to attract and retain pre-retiree clients
After earning a steady paycheck throughout their working years, retirees are looking for ways to develop a steady income stream in retirement. Financial advisers who are able to provide a retirement income strategy as part of a holistic retirement income planning process are best suited to attract and retain pre-retiree and retied clients.
To help its network of more than 1,400 financial advisers, ING U.S., through its broker-dealer, ING Financial Partners, has developed a new practice management program that can help advisers address important lifetime income planning needs with clients who are approaching and entering retirement.
The new practice management program, rolled out in early October, includes pre-approved pre-retiree and retiree seminars, educational materials with action plans, online tools and a structured framework that financial advisers can follow with their clients.
The scripted, 20-minute seminars address topics such as health care, longevity risk, budgeting, lifetime income and financial risks. They are organized into modules that can be customized for each audience. For example, if a client is particularly concerned about health care, a financial adviser can start with the pre-retiree seminar that focuses on Medicare and potential health care costs.
Retirement income continues to gain attention as more Baby Boomers near retirement age. A study by the ING Retirement Research Institute found that 86% of consumers say they need help determining how long their savings will last in retirement. The new practice management tool will help advisers service those needs.
“Financial advisers are eager to have the necessary tools and resources at their fingertips to guide clients through this complicated process,” said Karl Lindberg, president of ING Financial Partners.
One of the biggest challenges of preparing for a long retirement is estimating the cost of health care and long-term care and figuring out how to earmark assets to pay for it. Because of their longer life expectancies, women are particularly concerned about health care costs in retirement.
Don't miss the Investment News webinar on Women and Investing that will focus on how advisers can deal with the challenges of longevity, including health care and long-term care. Originally scheduled for October 30, the webinar was rescheduled because of the widespread power outages throughout the Northeast as a result of Hurricane Sandy. Please join us for the webinar that has been rescheduled for Tuesday November 20 from 4 to 5 p.m. ET. .
