Bring on a new year and new assets
2022: Good Riddance! Don’t let the door hit you on the way out, 2022.
The dark cloud of 2022 doesn’t really have a silver lining but it might just bring the rain that helps sprout a?new bull market?in advice.
It's hard to find a positive development during this past year. Inflation stole the financial headlines for the first time in 40 years, resetting the bar for every retirement plan.?Inflation is better known to retiring clients than to most financial advisors, very few of whom have any experience with the dreaded I-factor.
Check out “Year in Review” in this month’s Next Chapter newsletter. Some cheeky additions in addition to the hard stuff.
Fear isn’t fun but it does sharpen the mind and amp up the body. Politicians of all stripes embrace fear for its simplicity and effectiveness.
Good financial advisors know that drawing out even unspoken fears is good for effective planning. They ask a question we ask this month as well, “What are you afraid of?”. The answers are personal but manageable with preparation. And the best advisors are prepared.
Finally, we give a nod to an inspirational client and her advisor with “Finding Jackie”. She’s the ideal client – if you can find her. Stay tuned for more with the target personas for protection as our partner, the Alliance for Lifetime Income, gins up its financial professional program.
Sticking with Jackie will be a winner for advisors for sure. This train is already leaving the station.
Women, Wealth and Retirement: Closing the gender gap
When it comes to financial advice, women tend to be underserved. And there are no better executives to show us how we can improve than?Anne Ackerley,?Liz Koehler, and?Carrie Schroen?of BlackRock .?
Anne Ackerley is the Head of BlackRock’s Retirement Group.? Elizabeth Koehler, CFA , is the Head of BlackRock’s Advisor?Insights Team. And Carrie Schroen, MBA , is the Divisional Director and Co-Head of DEI for BlackRock’s US Wealth Advisory business.
Together, they break down the challenges facing women as investors, how the industry can change to be more inclusive, and proven strategies to close the gap.
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2022 Year in Review
My longtime editor and friend, Evan Simonoff of FA asked me for a review of 2022. Two words – “good riddance”. And I’m pretty sure I’m not alone. This year in review?is a mixed bag of observations, potential trends, and lamentable realities.
What Are You Afraid Of?
I watch and interview advisors as they navigate the current marketplace and I am always impressed with the ones that can say really tough stuff to clients but do so in a way that is not offensive. That's what this post is about: asking clients the tough questions and responding with empathy.
Finding Jackie
Jackie is the ideal client. She is busy with her family and friends, she doesn’t have time for worrying about the markets. She trusts her financial advisor. She collects Social Security. Her adult children all work with her advisor. So, how do you find her?
Save the Date!
Next Chapter is LIVE in New York. Brooklyn to be exact.?February 21, 2023.