Skating to Where Your Clients are Heading

Skating to Where Your Clients are Heading

As you continue to explore ideas for growth in your business next year and beyond, I think it’s critically important to look at where your clients are headed. You need to understand the future of your business and the demographics that drive it.


While many planners want to focus on wealth management and accumulation, the majority of Americans today are below the high-net-worth classification. More fall into the categories of middle-America, affluent or mass-affluent. These Americans need to consider how guaranteed income will make a significant difference in their retirement income and plans for longevity.


We are finding that most retirement portfolios increase their probability for success by adding guaranteed income. Please keep in mind that guaranteed income is not exclusive to annuity sales. Guaranteed income includes Social Security, defined benefit pension payments, and commercial annuities. If you would like to see how your average client’s retirement income can be positively affected by guaranteed income, I encourage you to try a demo of JourneyGuide, an innovative tool designed to help advisors and clients change they way they think and act in retirement.


When you think about 2019 and beyond, take a few minutes to think about your business in the next three to five years – even the next 10 years. The shifts in the American population will create opportunities for the next 20 years. The future lies in income, not accumulation. That’s not to say you don’t need to accumulate enough assets to provide income. However, the planners who can address the complex needs of most Americans through tax-efficient, inflation-adjusted income will separate themselves from the rest of the wealth managers in America.


Differentiation doesn’t happen by chance. People don’t wake up and start thinking that they need to call their financial advisor to talk about guaranteed income – they probably don’t know the sources of guaranteed income, let alone how it can benefit them. We have to change the way we market and discuss guaranteed income options with our clients and prospective clients. It has to be planned. So, take the time to clarify your message on income planning. Make sure you are the trusted source to have this important discussion with your clients.


Winning Strategy

Wayne Gretzky was quoted as saying he skated to where the puck was going. The American demographics are changing before our eyes. You need to adjust your services and clarify your message to meet them where they’re heading.

Winning Strategies

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Face it. These days, your phone changes faster than you do. Continuous improvement is the name of the game. If you’re standing still, you might as well be walking backward.

Special guest Scott Fergusson joins us to talk all things innovation and how you can easily upgrade your business. Not just to keep up with the industry, but to get ahead of your competition.

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About the Author

Mike McGlothlin is a team leader, retirement industry activist and disciple of Indiana Hoosier basketball. In addition to being EVP of retirement at Ash Brokerage, he is a sought-after writer and speaker. His web series, “Winning Strategies,” provides insight and motivation for financial advisors in many forms – blogs, books, videos, podcasts and more. His latest book, “Free Throw for Financial Professionals,” is available now at