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Portfolio > ETFs > Broad Market

Advisor Spotlight: What are the biggest challenges facing you in this market?

By Ginny Kipling

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Mark Pruitt, CSA and founder and CEO of Strategic Estate Planning Services Inc. in Texas, took the time to answer some questions about his practice and what drew him to the senior market.

1. What is your primary advisory specialty, or the focus of your practice? We create income streams for life and make sure to protect assets. We provide many resources when our clients need it: CPAs, attorneys, LTC information, death settlements, income stream creation, nursing home/assisted living/in-home services, reverse mortgage help, and VA benefit help. If agents would learn to be a true resource for their client base, then they become more valuable, even if they don’t make money on all of those services.

2. What are the biggest challenges facing you in this market, and how are you addressing them? Understanding that the history of the market means nothing while people are in the draw down mode. Getting people to understand that they must realize the extent of the financial damage, be willing to reassess and re-craft a plan going forward with what they have left.

3. What led you to focus on the senior market? It’s the largest growing market out there. Seniors need people that will follow through with their word and do what they say they will do. I have found that planners as a whole don’t follow up or follow through very well. I have taken their weakness and made it our strength. This one thing has brought me more referrals because people actually see someone focused on them for once, providing options, solutions and following through.

4. What is the best advice you would give to other advisors? Don’t let people fall through the cracks. Get organized, touch your people with things like retirement parties, birthday wishes or just a phone call to see how they are and last, be willing to help them in areas that may not bring you a dime. They simply want to know that they can call on someone if they need some advice.

For more information about Mark and his company, go to http://www.strategicestateplanning.com/default.aspx.

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