As 10,000 baby boomers retire every day their needs are changing. In the past they were most concerned with growing their assets so they could retire comfortably. But now that they have retired protecting their assets and making sure they don't outlive them is a much higher priority.

In addition they have discovered other issues that are also important. They may have aging parents that they need to support or adult children who are struggling to start a career. Health issues may also become a concern.

In the past boomers only reached out to their advisors for assistance in achieving good returns and managing their money effectively. But this focus has shifted. Research has shown (Advisor 2020 GAMA) that retiring baby boomers have turned from seeking asset management to life management.

As a result these clients are beginning to ask more of their advisors. Asset allocation and portfolio structure has become more of a commodity. Every day they see ads from robo-advisors offering to manage their money for a fraction of what they are paying their current advisors. As result they are starting to ask the question, " What is my advisor doing for me?"

Unfortunately most advisors have never been trained to deal with the issues of aging. They have not spent time helping their clients develop a long term care plan or a strategy to transfer assets to their children. They are not aware of the agencies and services available to their clients who are beginning to have health concerns. They have stayed far away from any discussions of end of life planning.

Elder Planning Specialist Program

That is why we at Plan4Life have developed the Elder Planning Specialist Program. Our experience with families and advisors over the last three decades has taught us that advisors need to develop a whole new set of skills to effectively manage their clients as they get older.

We have created a ten-module course that deals with all the critical areas that an Elder Specialist needs to know. Each module contains valuable and practical information that is relevant to your client. Case studies are included so the advisor can see how the information is utilized in real life situations.

The Elder Planning Specialist Program is offered in an online webinar format or through live workshops scheduled throughout the year. Each section is followed by a Quiz to determine if the student has absorbed the information presented. In addition the student must spend three months volunteering in an elder community to become more familiar with the needs of aging clients. Opportunities include volunteering in a senior center or helping seniors in an assisted living setting. Special focus is on assisting those clients with memory impairment.

Our intent is to build a network of advisors who as Elder Planning Specialists will become a resource in their community for other advisors, We have structured the program so that these specialists will maintain contact with each other through webinars and live events throughout the year. Utilizing the Elder Planning Network they will become valuable resources for each other sharing ideas and practical information.

If you are interested in the Elder Planning Specialist Program and would like to review our curriculum, please contact us through our contact form.

Online Courses

Dealing with Diminished Capacity
This is a 2 hour course to provide financial advisors with the basic skills to develop a protocol to protect themselves and their firm if they discover that a client has diminished mental capacity. It also includes the latest regulations regarding discovery and reporting of elder financial abuse by financial advisors. If you are interested in the Dealing with Diminished Capacity Program, please contact us through our contact form.