Happy Friday, readers! Experienced retirement plan advisers know the needs and objectives of individuals can vary quite a bit even across a small retirement plan population. This makes the task of client service both challenging and rewarding. Some investors face familial caregiving burdens, some carry significant debt, and others face widowhood or poor health. As noted in the articles below, advisers can play a big role in helping clients address all of these issues from a financial perspective. We hope you will share some of what you read with a client or colleague.
One in five U.S. adults currently assists an older family member with daily tasks or housing, according to a new survey from RBC Wealth Management; in addition to causing stress and anxiety, the impact of caregiving can be significant on an individual’s financial health.
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It’s not hard to imagine why caregivers deprioritize their retirement savings; harder to figure out is how to support caregivers as they work to build their own financial wellness and retirement wealth.
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By talking about the power of compounding and emphasizing the importance of investing at the same time one is paying down debt, advisers can inspire younger clients to save more and save earlier.
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The adviser is in a good position to remind widowed individuals to continue to think about and plan for the long-term financial future—difficult as that may be after the loss of a spouse.
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While not a traditional topic for retirement specialist advisers to speak about, experts agree that student loan repayment benefits are a powerful boon to financial wellness programming—and a topic that financial advisers should learn more about.
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The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to pursue ‘leftist political agendas.’
