Where to start with an advisor like Briggs Matsko, except by the numbers?
The firm he manages, California Fringe Benefit, handles 33 employer institutions, mostly hospital and health-care clients, representing 18,000 participants who put $30 million a year into their retirement plans.
A subsidiary of Lincoln Financial Advisors, the Sacramento-based firm has 20 planners and 20 staff who handle the institutional side, which oversees $800 million in assets under management.
On top of that, Matsko, 54, has a personal team, headed by a practice manager, that helps him service about 500 private clients. But over the last couple of years, Matsko, a nationally recognized retirement income distribution specialist, has focused his attention on this key number: the amount of money clients need to make sure they won’t outlive their income in retirement.
With the first baby boomers turning 60 this year, the subject has never been weightier.
“We’ve never had this many people in retirement in the U.S. — and they’re living longer. Yet most people have difficulty planning beyond 10 years. Longevity is a real problem baby boomers will face,” according to Matsko, who offers up this interesting statistic: If you and your spouse are 62, chances are one of you will live to be 92. “And that’s the average. Americans, particularly boomers, are just not cognizant of their longevity risk.”
At the moment, Matsko is on special assignment for Lincoln Financial, training and certifying the network’s financial advisors in a retirement income distribution process, dubbed “The Matsko Method.” In the last year, Matsko has certified 150 advisors.
“The Matsko Method ranks up there with the best retirement income planning processes I’ve seen. If folks were to adhere to it, they would have a more fulfilling retirement,” notes Jon Boscia, chairman and CEO of Lincoln Financial Group. “Briggs brings a high level of technical skills and combines it with strong empathy and great listening skills. He’s the complete package.”
The Matsko Method helps people categorize expenses in retirement and links them to income sources.