Advisers need this new approach to aging clients
Addressing longevity will be key to how advisers serve clients in the future
There are more people alive today than ever before, and those individuals are living longer on average and demanding much more in their later years than any generation before them. Speaking at the 2018 Health and Wealth Leadership Forum, an event hosted by InvestmentNews and the Big Brothers Big Sisters of Massachusetts Bay, Joseph Coughlin, director of MIT’s AgeLab, explained how these factors are going to fundamentally change the way advisers work with aging clients. Advisers in the near future will need to be providing much more than financial advice, Mr. Coughlin said. They will have to have conversations that help clients navigate longevity — topics like geriatric care, transportation and housing — or they risk being replaced by a firm that does.
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