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Client Life Events
Emergency savings: Planning for the unplannable
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The COVID-19 crisis exposed an already dire problem – families could not come up with money for unexpected expenses, such as replacing a flat tire or repairing a busted pipe. As such, many advisors have been reemphasizing the importance of optionality and financial wellness to help their clients and communities properly prepare for these unpredictable emergencies.
Retirement
Retirement income planning in the “new normal”
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Retirement policy, interest rates and market volatility have made retirement planning more challenging for clients and advisors alike. What are the philosophies, opportunities and challenges you need to be aware of to help your clients navigate decumulation in today’s environment?
In this episode, we’re joined by Jamie Hopkins, Director of Retirement Research at Carson Coaching and co-creator of the Retirement Income Certified Professional (RICP) designation. Jamie discusses the opportunities and challenges associated with creating retirement income in this new environment, including how to help shift the mindset of individuals to adapt to these changes.The IRS recently announced that it will allow plan sponsors to pay out pensions as a lump sum to plan participants. In this video BMO Global Asset Management discusses what considerations should be made by plan sponsors and plan participants before choosing lump sum as an option.
Retirement
Lump Sum Payouts from Pension Plans
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The IRS recently announced that it will allow plan sponsors to pay out pensions as a lump sum to plan participants. In this video BMO Global Asset Management discusses what considerations should be made by plan sponsors and plan participants before choosing lump sum as an option.
Client Life Events
Who will be your caregiver?
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The demands placed on the health care system and the need for long-term care options continue to rise. The question of whether Americans have adequately prepared for their future health and long-term care needs will be answered in the coming years as a wave of baby boomers retire.
Client Life Events
The family conversation you should not avoid: How to discuss your legacy
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Everyone needs to take time to consider what they are leaving behind. What is left behind is often far more than can be measured in monetary terms. In addition to material worldly assets, a person leaves behind a legacy representing their values, plans, beliefs and cherished memories.
Client Life Events
Financial concerns of women
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Women have made incredible strides, both professionally and personally, in the last half-century. Despite the professional and financial successes that women in the workplace have earned in recent generations, they are still facing personal issues and unresolved challenges.
Client Life Events
The aging economy
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People are living longer than ever before. However, while advances in medicine, health, nutrition and fitness have extended the lifespan of Americans, the number of years they spend in retirement has not changed much over the last generation because they are also working longer.
Leveraging Technology & Data
Create, curate and connect: social media for advisors
Our topic today is social media – how to use it effectively as a financial advisor, why employing social media strategy is important, and some mistakes to avoid before you send out that first tweet.
Client Life Events
Happily never after: Advising clients through a divorce
Going through a divorce is a stressful and emotional endeavor. For many, it’s also the single largest financial event they will experience in their life. Yet, many people don’t receive the proper guidance when it comes to separating assets.
Client Life Events
Money mindset: Suddenly single
In this episode, our discussion focuses on a large and growing demographic: middle-aged people who find themselves “suddenly single” after years, if not decades, of marriage.
Retirement
Creating more precision with life expectancy planning
As life expectancy numbers continue to increase, the need for more careful and more precise financial planning for retirement has increased with it. A startup called Genivity, one of the winners of BMO's 1871 FinTech partnership program in 2017, is helping financial advisors have better conversations with their clients by incorporating health history insights into the financial planning process.
Client Life Events
Financial considerations for families with special needs
According to a 2016 Return on Disability Group report, over 56 million people in the United States identified themselves as having a disability. This demographic, along with their caretakers, requires specialized financial planning, but are often left underserved by their advisors.