Clients are beginning to pay attention! For years, our typical client would look at their portfolio, note that it had increased in value, and congratulate us on a ‘job well done’. Only a few clients would have difficult questions. Those were the days, my friend!

That has changed, as it always changes in a market correction. People are worried. This New Normal has come with inflation, stock index declines, and uncertainty. The demographic with the most concerns also has the most net worth. As our clients approach retirement age, they tend to have significant assets under management. They are also the clients with the most concerns about retirement. They are asking us to look into our crystal balls and accurately define the future. The volatility of recent months has made them less confident in our advice as financial advisors.    

These clients have questions; complex questions that can take hours and days to answer appropriately.  

How have the top performing financial advisors dealt with this situation?

They have adopted new and better tools to answer client concerns, address uncertainty, and restore confidence in their services. It is now possible to provide clients with optimized retirement decumulation plans. Optimization is essential because it can save clients hundreds of thousands and more in net worth. The best tools are easy to use. Reports can be generated within working minutes instead of working days. The reports answer a myriad of questions such as:

1. Will my assets last through my retirement, and will I be able to leave an estate of value?

2. Can I maintain this lifestyle? Alternately, what changes do I need to make to retain the significant and important parts of this lifestyle?

3. How much can I spend annually?

4. At what point does my spending outweigh my resources?

5. Can I go on that trip or afford that renovation, cottage, or boat without jeopardizing my long-term financial position?

6. How do I best safeguard these assets in these volatile times?

The only widely available software tool that does true optimization and easily answers all these questions (for the Canadian market) is Retirement-Optimizer ( Utilized by top financial advisors and tax accountants, Retirement-Optimizer will make your job much easier.