Advisor Turnover

BARRY FROM FLORIDA ASKS, WHY DOES IT SEEM LIKE EVERY COUPLE OF YEARS, HE IS ASSIGNED A NEW ADVISOR BY HIS INVESTMENT COMPANY?

Why do I keep getting assigned to a new advisor?

  • It is very common for people to get assigned a new advisor by their investment company.
  • By the time I get to know them, they are gone, and I must restart with another advisor.
  • These advisors are trying their best, but they lack the stability and consistency that is needed to be effective.
  • At the larger firms there is a lot of turnover when it comes to advisor and client relations.

Why is it important to have consistency with one advisor over retirement?

  • During the distribution years we need to create a plan and revise it at least annually.
  • You need to work with an advisor who has a thorough understanding of your unique situation and your goals in retirement.
  • There needs to be a plan in place to protect your assets during the volatile times in the market.

What are some of the benefits SFP clients get?

  • SFP clients meet with Ryan at least twice a year, and in most cases more than that.
  • Ryan works closely with an attorney and accountant to make sure that the plans are as strong as tax efficient as possible, as well as making sure that there’s
  • Ryan makes sure that he has an intimate knowledge of his client’s lifestyle so that he can build in an income plan to provide for hobbies and travel.

Barry from Florida writes Ryan to ask why he has had so many different advisors assigned to his account at his investment company.  He wants to know if it is common, and why Ryan’s clients at SFP do not have that same experience.  Ryan informs Barry that unfortunately it is not uncommon for people to get assigned multiple advisors over their time with a firm.  At the larger firms there is a lot of turnover when it comes to advisor and client relations. 

Ryan also goes on to explain that, at SFP, it is a completely different type of relationship.  Clients can live 30, and even up to 40 years in retirement, so the relationship is based on not only helping with finances, but sometimes more importantly friendship.  Ryan takes his clients through SFP’s Retirement My Way Process.  During this process Ryan gets to know everything about the client.  What do they need in retirement, like food, clothing, shelter, utilities, etc.  Basically, what they need to survive.  Then Ryan asks them what they want to thrive.  This relates to the fun stuff, like travel, golf time with the grand kids. 

By knowing exactly what I client needs and wants in retirement, he can then start to build out an income plan to provide them with guaranteed lifetime income.  Social Security and or pension is always the foundation to this income plan and getting the most out of these benefits is extremely important.  Then, Ryan will look at how to utilize remaining assets to provide guaranteed, predictable, lifetime income that is protected from market volatility.  This is how retirement can feel like a 30-year vacation.  By eliminating the fear, stress, and worry around a client’s money they can relax and enjoy themselves.  If this sounds interesting to you or if you would like to learn more, you can reach out directly to Ryan or any member of his team and they would be more than happy to send you out some information, or even set up a quick call with Ryan.