Inflation has arrived. We all hoped it would be temporary, a combination of pent-up post-lockdown demand and supply chain problems. It looks like inflation has decided to stay awhile.
Retired clients might be thinking “How do I make ends meet?” as prices rise and they live on a fixed income. Advisors who see their income tied to assets under management might see their incomes contract if the stock market declines, taking asset levels down with it.
What should you cut or not cut, when it comes to reducing expenses? Check out the gallery above. Inflation may be putting the squeeze on clients, and advisors, too. But there are steps you can take.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor,” is available on Amazon.