Briggs Matsko, CFP, presented an overview of the process he uses to engage clients in the retirement income question. Matsko, a Lincoln Financial Advisors affiliated-rep who first joined the industry in 1974, began by describing to attendees at the Retirement Income Symposium in Chicago on Monday the EASE process (envision, analyze, solutions, evaluate) he developed.
Peppered with questions from the audience throughout, Matsko (left) and his associate Jeff Mass ran through the inputs and variables available on their specially designed software. Beginning with the first step “envision,” he asks about the clients’ goals and priorities, timelines and longevity factors, and risk tolerance. His pyramid matrix, based on Maslow’s hierarchy of needs, is a visual aide he uses to address the retirement income concept and steps he envisions.
“Core expenses comprise the base,” he said. “Joy expenses are the second level, followed by goals, and legacy issues comprise the top. We begin at the bottom and work our way up.”
The “analyze” portion of the process crunches the numbers, explains more of the retirement planning procedure and displays the data to the client. The “solutions” portions is where Matsko and Mass make recommendations, including annuities, long term care insurance, portfolio optimization and others. They conduct probability scenarios and make adjustments. The last step is to evaluate the plan on an ongoing basis.
“There are the go-gos, the slow-gos and the no-gos,” Mass added, when referring to demographic age groups in retirement. “This process addresses all three.”