How to Use Focused Planning to Create Value Over Product and Increase Sales.
What is the Essential Decumulation Toolkit
For most clients, retirement planning is about the accumulation of RRSP, TFSA and other investments so they will have the money they need to enjoy retirement. This phase of retirement planning has traditionally focused on strategies involving asset allocation, risk management and tax efficiency, with the goal of improving returns. However upon retirement, planning must shift from saving (accumulation) to spending (decumulation).
Decumulation planning refers to the strategic spending of assets to achieve various retirement goals. It’s much more complex than accumulation planning because you now must help clients decide how much and in what order they will spend the different assets they have accumulated, and when to apply for CPP and OAS benefits. Get it wrong, and it could cost your clients hundreds of thousands in lost wealth over their lifetime.
What’s inside?
- Identifies the problem with traditional financial product sales concepts.
- Introduction to Planning as a Concept and how to use Focused Planning.
- How to create Value over Product.
- Using six core competencies of financial planning.
- Outlines actionable strategies for demonstrating the value of your advice.
- Shows the benefits of combining Behavioral Coaching and Strategic Management with financial products.
