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Boomers on technology: Are advisors keeping up?

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Last week, we spoke with senior clients to see how they use technology to communicate with their advisors. This week, we look at boomer clients and ask them the same question. Later in 2013 we’ll release information on what advisors are doing to utilize the newest technology in their practice. 

It’s been going great. I’m glad to say my advisor is tech savvy. That works for me. I travel all over the world and am never in one place for too long. To tell you the truth, I don’t have time to sit down and go over things in the traditional sense. What really works for me is when my advisor looks at my plan and then we ping each other back and forth. When we get an idea of where to position assets, I have it on any one of my devices and I can look over it while I’m on a plane flying. Like I said, it may not be traditional, and I don’t know how many other clients and advisors are working like this, but it works for me.

Devon, 56
San Clemente


I like the changes in the industry. We have a winter home in South Florida to get away from the snow and our advisor has been conducting meetings with my wife and me through Skype. It’s been really helpful. We had some fairly large assets to move and were able to handle most of the issues through our Skype meetings. We have also found that we can electronically sign some documents and the smartphones in general have been helpful in keeping in touch.

Marshall, 60

I work in the technology field for one of the chipmakers. Years ago, our company did a smart thing. They brought in an advisory firm to meet with the employees. We did not have to sign on with them. There was no pressure to go with these guys. Some employees chose to go out on their own. I listened to the pitch and I was sold. You could tell they were hand-picked by our executives. It’s not that they speak our lingo any more than I speak theirs. They were, however, picked by our executives because they have a basic understanding of technology and are more on the cutting-edge of technology for financial firms than most would be, I suspect.

Wallace, 55

You mentioned you have been talking to snowbirds. I’m one, too. I retired from the automobile industry just last year and my wife and I, who are empty nesters now that our girls are in college, have purchased a place in Arizona. Last winter was our first to spend time there. The meetings with our advisor were seamless. We found that we could conduct business electronically without a glitch. I believe in a few years, advisors, or the ones who want to grow, will adopt new technology. Retirees, particularly in cold regions like I live in, will be relocating to Arizona and Florida and the advisors will not want to be losing their business.

Bert, 61

For more from Daniel Wiliams, see:

Wall Street, advisors and the role of educating clients

Seniors on technology: Is it useful?

Tiny earthquakes


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