What retirement issue has hit you or your clients out of left field, and how did you resolve it?
The biggest issue for my clients has been the ability to create income in a declining market and also a low interest rate environment. How we addressed it is we had to switch our process from being a buy-and-hold style to more tactical and more strategic. We’re also utilizing investments that we typically didn’t utilize, such as investment grade bonds, by buying bonds at a discount and selling them when they started to trade up when credit spreads have narrowed.
What prospecting methods have been most successful for you in attracting retirement-planning clients?
It’s a combination of referrals and a lead-based generation in which we’ve been building leads over the past 10 years of people that we know are accredited investors.
Do you face any frequently occurring retirement-planning mistakes with prospects?