10 Long-Term Care Questions to Ask Your Clients

Posted by Ethan Young

July 24, 2019 at 1:30 PM

When it comes to contemplating our own mortality, most people would prefer to continue whistling by the graveyard. And talking about the health issues we may endure if we live to a ripe old age? Not a pleasant topic of conversation either. Despite that, having these sorts of discussions with your clients is an absolute necessity. What if Jane falls and breaks a hip and can’t recover the way she used to? What if Elizabeth develops Alzheimer’s? What if Charlie lives to 100, but requires a nursing home or round-the-clock at-home care for the last 15 years of his life? One of your key roles as an advisor is to ensure that there's a plan in place to protect your clients' retirement savings from these potentially costly medical expenses.

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Topics: Risk Management

Should Some Clients Self-Insure for Long-Term Care?

Posted by Ethan Young

March 26, 2019 at 10:00 AM

According to conventional financial planning, it’s important for high-net-worth individuals to self-insure for long-term care expenses. At Commonwealth and Ash Brokerage, our insurance partner, we would agree that while there's some truth to this idea, most clients (including high-net-worth ones) should consider transferring the risk of long-term care. But that's not to say it's right for every high-net-worth client.

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Topics: Risk Management

8 Potential Risks in Your Financial Advisory Practice

Posted by Bette Skandalis

March 20, 2019 at 1:30 PM

Business risk is anything that threatens the continued success of your practice, and it can assume many forms. Unfortunately, many business owners overlook the potential risks that can derail a long-standing business. Why? Generally because they don’t understand the risk, don’t feel the risk is severe, or don’t believe it will happen. But what if it does?

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Topics: Practice Management, Risk Management

The Retirement Plan Advisor’s Guide to Offering Model Portfolio Services

Posted by John Chevalier

March 13, 2019 at 1:30 PM

It’s not surprising that individuals who work with a financial advisor feel more confident about the security of their financial future. In fact, according to Northwestern Mutual, most Americans with an advisor believe they’ll work beyond retirement age only if they choose to. This optimism is far less evident among those who don’t work with an advisor, with 6 out of 10 indicating they expect to work past retirement age out of necessity.

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Topics: Retirement Consulting, Risk Management

A Guide to Identifying Emerging Risks and Taking Action

Posted by Rachel Sonia

October 9, 2018 at 10:00 AM

Predicting the weather has come a long way—meteorologists no longer examine the clouds to determine the forecast. But they still can’t accurately predict the path of a hurricane. Does that mean watching the Weather Channel is useless? Of course not. We take steps to mitigate the effects of hurricanes by signing up for warning alerts and purchasing flood insurance.

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Topics: Risk Management

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