To The Editor:
Re: “As Boomers Near Retirement, Where Are All The Income Specialists?” by Linda Koco in the March 3, 2003, issue.
This article is right on the money! Most adults, but particularly older baby boomers, are screaming for help from an advisor who possesses the “three Cs”–competent, caring and comprehensive. An advisor who wants to fill this need for “income planning” has a rare opportunity to help a lot of people in a profound way and in doing so will be rewarded in a fashion that supersedes just “making money.”
Below are the three essential principles that one will want to consider in becoming such a professional:
Principle #1–A systematic process of planning must be created. This will form the template for how the advisor will operate when doing “income planning.” This process will be modified from client to client due to individual circumstances, however, the basic “template” will stay the same. This system will offer momentum during the planning process as it becomes “second nature” to the advisor as well as any staff members that are involved.