Building a Successful Practice As a Retirement Plan Specialist

Building a Successful Practice: It is projected that 70-80% of investors who work with a stockbroker, financial planner, or advisor will switch advisors before retiring. Some people will make the switch in their fifties, and others will wait until they are in their early to mid-sixties. The explanation for the switch is straightforward: Investors see their financial advisor as “growth driven,” as an accumulator who isn’t skilled in income structuring. When the decision is made, a retirement expert is consulted.If you wish to learn more about this, visit E.A. Buck Financial Services, Greenwood Village (Denver).

Customers Change Consultants: The brokerage industry has begun to encourage retirement income in recent years, but the effort has been restricted and has been met with scepticism by investors. After all, compensation for advisory accounts is dependent on assets under management; dividends only serve to erode the advisor/broker base. The retirement benefit specialist has a slightly different goal in mind: to maximise periodic distributions while maintaining a reasonable degree of risk.

Investors are typically loyal to their broker or counsellor, but this loyalty also fades as the investor becomes more serious about retirement planning. They don’t dislike their advisor; they just believe that he or she lacks the expertise to assist them with the income phase of their lives. This is where the retirement plan expert comes in.

Specialist in Retirement: The overwhelming majority of your peers and rivals tout their ability to handle any aspect of the investor’s needs. It’s difficult for any advisor to stand out in this setting. When an issue occurs, we still search out a professional (e.g., car mechanics who specialise in foreign cars, the doctor who only does a certain type of eye surgery, etc.). Brokers, planners, and advisors have yet to learn this lesson. How often do you come across an advisor who advertises himself or herself as a “retirement plan expert” or merely a “retirement specialist?”

The professional is the one who makes the most money and lives the simplest life. A retirement benefit specialist will hone his expertise by focusing on a very specific area of the financial services sector, allowing him to stand out and alleviate concerns.

The retirement specialist may seem to be “leaving money on the table,” but the truth is very different. CDs, government securities, and fixed-rate annuities may make up part of a client’s portfolio, but growth-oriented mutual funds with a systematic withdrawal strategy may make up the rest. And just because someone is in a high-income bracket doesn’t mean she isn’t in need of benefits or wants to contribute to a grandchild’s college fund.

Contact Info

E.A. Buck Financial Services
8101 E Prentice Ave, Ste. 420, Greenwood Village (Denver), Colorado 80111
888 210 6567


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