Robert Graham, RFC, president and CEO, RG Capital, AIG Financial Advisors, Scottsdale, Ariz.
1. What retirement issue has hit you or your clients out of left field, and how did you resolve it?
Graham: The number one retirement issue is not being prepared or not having a clear line of sight on what needs to be done to be prepared. For example, people think that they are saving enough to prepare for their future. But once we factor in inflation, taxes and all the other dynamics in a retirement analysis, they find out they’re actually coming up short.
We resolve that by giving them a savings goal or target, and their goal is to save that amount in the various vehicles every month until the day they retire. If they’re able to do that, then generally speaking, we have a great outcome.
2. What prospecting methods have been most successful for you in attracting retirement-planning clients?
The absolutely most successful prospecting method has been niche marketing through “guru” relationships. For instance, one of our top referral sources is in the dental profession. We were able to build relationships with top consultants in that industry, and those folks refer clients to us. Right now we spend very little on marketing but average five to 10 qualified referrals per week.
3. Do you face any frequently occurring retirement-planning mistakes with prospects?