Role of the Advisor during the investor’s life journey

If we view retirement planning as part of a three stage cycle it helps define the role of the financial advisor at each stage of life.
The pre-retirement stage is one where wealth accumulation is the primary focus.  At this point the primary responsibility of the advisor is to

• Build portfolios
• Grow investments
• Discuss retirement and education (college) goals.

As we get to the point of actually retiring the role of the advisor changes:

• Know the retirement date
• Develop income plan
• Refine estate plan

After you retire the advisor is responsible for:

• Manage income plan
• Facilitate legacy plans
• Develop ties with heirs