Ensuring all clients get the proper wealth planning products is no small effort. It takes a team of professionals who have their clients’ best interests in mind. One key player is the wholesaler.
The No. 1 question insurance producers find themselves getting asked is usually along the lines of: How much insurance do I need? Even if clients aren’t asking producers this question, there’s no doubt they’re asking it of themselves.
As a financial professional who helps your clients manage their money, you’ve probably seen them earn their wealth in all manner of ways. Many likely have successful business or investment ventures, while others may be the beneficiary of a trust fund.
As a financial planner, you’ve undoubtedly seen every kind of mistake there is to be made with estate plans. From providing control to the wrong person to neglecting to write one altogether, you know that these missteps can have far-reaching consequences for your clients and their loved ones.
Baby boomers, Generation X and Generation Y didn’t just grow up in different time periods. In many ways, they grew up in completely different countries. As such, the Great Recession had a unique effect on each generation. Baby boomers, who were born between 1949 and 1964, often found themselves needing to retire earlier because of a sagging job market, though plummeting property values and financial instability meant many were not as well off as they may have hoped.
As the economy continues to recover from the Great Recession, it seems that no generation made it through without various financial woes. But there are trends that have become apparent which have since been tracked and studied by LIMRA.