Helping retirees find purpose and fulfillment in their second half of life
- Financial advisers are helping clients with the nonfinancial aspects of retirement
- Retirees often struggle with depression, boredom, and dissatisfaction
- A coaching academy is being launched to address these issues
- The program focuses on four pillars for a successful retirement: rediscovering uniqueness, reorienting and repurposing, building social connections, and leaving a legacy
- The training is aimed at smaller boutique financial advisers
- The fee for financial advisers can be steep, but the value added is significant
Retirement can be a challenging transition for many Americans, with new retirees often experiencing depression, boredom, and dissatisfaction. To address these nonfinancial aspects of retirement, financial advisers are starting to take a holistic approach. A coaching academy is being launched to help advisers guide their clients towards a more purposeful second half of life. The program focuses on four pillars for a successful retirement: rediscovering uniqueness, reorienting and repurposing, building social connections, and leaving a legacy. While the fee for financial advisers can be steep, the value added in helping clients find fulfillment in retirement is significant. This movement towards addressing the nonfinancial aspects of retirement is gaining traction, with smaller boutique financial advisers leading the way. By incorporating these holistic approaches, advisers can add value to their client relationships and make the fee more justified. The conversation around the importance of nonfinancial aspects of retirement is growing, and even the Certified Financial Planners (CFP) Board is recognizing the need to include behavioral aspects in their curriculum. While the exact pricing for advice on nonfinancial aspects is still being worked out, the goal is to help retirees live a purposeful second half of life by making adjustments and embracing change.·
Factuality Level: 2
Factuality Justification: The article provides relevant information about the challenges faced by retirees and the efforts of financial advisers to address nonfinancial aspects of retirement. However, it lacks depth and critical analysis, and it includes personal anecdotes and promotional content that may skew the presentation of facts.·
Noise Level: 3
Noise Justification: The article provides valuable insights into the challenges faced by retirees and the importance of addressing nonfinancial aspects of retirement. It offers a thoughtful analysis of the need for a more holistic approach to retirement planning, backed by research and real-life examples. The article also discusses a new coaching program aimed at helping financial advisers guide their clients towards a more purposeful second half of life.·
Private Companies: Hixon Zuercher Capital Management
Key People: Tony Hixon (Chief Executive of Hixon Zuercher and Co-founder of the academy), Scott Miller (Certified Professional Retirement Coach)
Financial Relevance: Yes
Financial Markets Impacted: The article discusses the impact on financial advisers and their clients in terms of financial planning and retirement, which may affect the way they handle non-financial aspects of retirement such as social connections and finding purpose.
Financial Rating Justification: The article talks about a new coaching program for financial advisers to help them guide their clients through non-financial aspects of retirement, like finding purpose and avoiding loneliness. It mentions that 77% of clients wish for resources beyond just financial planning, which could impact the way financial services are provided.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: ·
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