7 Ways Financial Advisors Can Get Retirees Engaged with the Financial Planning Process

Sep 8, 2023

As a Financial Advisor or Planner, you likely already know how challenging it can be to get some of your Advisory clients or prospects on board with the financial planning process. For Retirees, or those approaching retirement, it’s even more important to break through those barriers.

When we think about Retirees as a group, there are some specific reasons they can be resistant to begin planning work and conversations. Some of those reasons include:

Perceived complexity: Many Retirees may view financial planning as overly complex and intimidating. The financial world is filled with jargon and intricate strategies, which can be overwhelming for those who are not familiar with it.

Overconfidence: Some Retirees may have a sense of overconfidence in their financial situation, thinking that they’ve saved enough or that they can manage their finances on their own. This can make them resistant to seeking professional advice.


This Marketing Guide has been created to provide Financial Advisors & Planners with the foundational knowledge needed to build an online presence, create and share valuable content, and engage with prospects and clients through email marketing.

Download your free digital marketing guide for Canadian Financial Advisors, Planners, and Investment Managers here.



Emotional barriers: Money is often tied to emotions, and discussing financial planning can bring up fears, anxieties, and uncertainties about the future. These emotional barriers can make it difficult for Retirees to engage with the topic.

Trust issues: Trust is crucial when working with a Financial Advisor. Some Retirees may have had negative experiences with financial professionals or may be skeptical about the Advisor’s motives, making them hesitant to seek advice.

Inertia: People are often resistant to change, and Retirees may have established financial habits that are difficult to break. Convincing them to make adjustments to their financial plans can be challenging.

Perceived irrelevance: Retirees may feel that financial planning is not relevant to them because they have already retired. They may think that the time for planning has passed, even though ongoing financial management is essential in retirement.

Communication gap: Financial Advisors may struggle to communicate complex financial concepts in a way that resonates with Retirees. Bridging the communication gap is essential to make the planning process more engaging and understandable.

Health and ageing issues: As Retirees age, health issues and cognitive decline may become concerns. These factors can make it even more challenging to engage them in the financial planning process.


To address these challenges, Financial Advisors should adopt strategies that focus on simplifying the planning process, building trust, empathizing with Retirees’ emotions, and demonstrating the tangible benefits of financial planning in retirement. Tailoring the approach to the individual’s needs and concerns is crucial to overcoming these obstacles and getting them excited about financial planning.




Here are 7 specific things you can do that will help get Retirees engaged with the financial planning process:

  1. Define retirement goals – Start by having a conversation to understand their goals and aspirations during retirement. Encourage them to think about what they want to achieve and experience, whether it’s traveling, starting a hobby, or spending more time with family. The Financial Planning Questionnaire (part of the Toolkit available above) can help to start and document these conversations.
  2. Highlight the benefits – Explain the benefits of financial planning. Emphasize how it can provide peace of mind, security, and confidence in managing their finances during retirement. Discuss how it can help them maintain their desired lifestyle and ensure they have enough savings to cover unexpected expenses. The Value of Planning One-Pager (part of the toolkit above) will help to articulate the value of financial planning.
  3. Introduce retirement planning tools – Show retirees the various retirement planning tools available to them. These can include online calculators, retirement planning software, and professional financial planning services. Demonstrate how these tools can provide a clear understanding of their financial situation and help set realistic goals. For example, some financial planning software will be transparent enough that you can use it live with your clients. Learn more about how Advisors can use financial planning software to provide transparent retirement Recommendations to their clients.
  4. Offer education and resources – Share educational materials and resources specifically tailored to retirees. This can include books, articles, online courses, and workshops that provide guidance on retirement planning and financial management during retirement. Encourage retirees to attend seminars or webinars where they can learn from experts and ask questions.
  5. Explain the importance of reviewing and adjusting – Stress that financial planning isn’t a one-time activity, but an ongoing process. Explain the importance of reviewing the retirement plan regularly and making adjustments as needed. This will help retirees stay on track and adapt to any changes in their financial situation or goals.
  6. Emphasize personalized planning – Highlight the fact that financial planning is not a one-size-fits-all approach. Explain that each retiree’s financial plan should be customized to their unique needs, preferences, and risk tolerance. This can help them feel more engaged in the process and confident in their financial decisions. For personalized planning, you will need planning software that is highly flexible and customizable.
  7. Offer support and guidance – Let retirees know that they don’t have to navigate the financial planning process alone. Offer your support as a financial advisor or direct them to seek professional advice. Share success stories and testimonials from other retirees who have benefited from financial planning. This can inspire and motivate them to take action. Learn more about ways Advisors can show value and positively impact their clients’ lives.

Remember, it’s important to listen to their concerns, answer their questions, and address any fears they may have about the financial planning process. By following these steps, you can help Canadian Retirees feel excited and empowered about their financial future during retirement.

The Financial Advisor's Marketing Guide


The Financial Advisor’s Marketing Guide

Learn how to build an online presence, create and share valuable content, and engage with prospects and clients through email marketing.