If a client asks, how much more do I need to start saving in order to meet my retirement goals? and their Advisor can’t tell them, it’s a problem.
If it takes them a long time to determine the answer, that’s a problem, too. Advice expected but not delivered is how Financial Advisors lose clients.
Working with younger clients
Goals-based planning as well as cash-flow planning are essential capabilities when it comes to working with younger clients. While retirement income planning as almost always part of the discussion, younger clients will have additional goals and upcoming life events that should be planned for. These clients expect a high level of service. They want transparent, easy-to-understand advice that is delivered in real time. They have important financial questions they need answers to.
In this financial planning tutorial, you will see how transparent advice and personalized recommendations can be provided in real time to a couple in their forties. Vance and Julie have questions, and we can use Snap to determine the answers.
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Case Study details
Meet today’s Case Study clients, Vance and Julie Cooper. They currently reside in Ontario and were both born in 1980.
In this webinar, we reviewed a basic plan in Snap for the couple and answered the following questions that they asked regarding their retirement:
- How long will my money last? Am I going to be okay?
- How much can I spend so I won’t run out of money?
- How much will be left for my children?
- How much more do I need to save to reach a specific retirement income goal?
Watch the financial planning tutorial
Canadian Financial Advisors, Planners, and Investment Managers are eligible to start a 14-day Free Trial of Snap Projections financial planning software.
Next steps
If you would like to see the full process of entering the initial data for a spousal scenario, the December 6th session recording that was mentioned can be watched here.
Learn how to model the new FHSA with cash-flow and goals-based projections.
