LA VISTA, Neb., Jan. 25, 2012 (GLOBE NEWSWIRE) — Securities America recently released a new white paper, “Talking to Clients about Overspending in Retirement,” the third in the independent broker-dealer’s Retirement Income Distribution white paper series.
“Advisors often face the difficult task of talking to clients about the impact of overspending on their retirement income distribution plans,” said Paul Lofties, Securities America vice president of wealth management services and product distribution. “Our white paper provides advisors important insights as to why clients may overspend, choices the clients have for getting back on track, and suggestions for how advisors can help clients change their behavior.”
During clients’ working years, their earning power may mask overspending, said Sharla Jessop, financial advisor with Smedley Financial Services, whose comments are included in the white paper.
“There’s always that next paycheck coming in,” Jessop said. “During retirement, when they are limited to the budget their distribution plan can support, they may have difficulty adjusting and be prone to periods of overspending.”
To help clients create a workable retirement income distribution plan, advisors may need to help them distinguish between core expenses and non-essential expenses – or more simply, needs versus wants. Clients may understand the difference intellectually but have difficulty giving up the presumably positive emotions they experience when they spend.
“Because all clients are human beings, by definition they are both logical and emotional,” said Fritz Brauner, financial advisor with the Brauner Company, who is also quoted in the white paper. “Dealing with the logical side is relatively easy for an advisor. It’s the emotional, psychological and behavioral side that often presents a challenge.”
The white paper includes implementable tools and ideas for advisors. To download the complete paper, visit www.joinsai.com, and click on the “White Papers & Articles” link under “Helpful Info.” Securities America’s first two white papers in the Retirement Income Distribution Series – “Capturing the Income Distribution Opportunity” and “Marketing Yourself as an Income Distribution Specialist” – are also available for download.
About Securities America
Headquartered in La Vista, Neb., Securities America, Inc. has more than 1,800 financial professionals nationwide with approximately $46 billion in client assets under their supervision. Securities America Advisors, Inc. is an SEC-Registered Investment Advisory firm with more than $15 billion in assets under management and administration that offers investment management, financial advice and financial planning through financial advisors. For more than 25 years, Securities America’s mission has been to foster the success of financial professionals so they can provide quality, objective counsel and services to their clients. Additional information is available at www.securitiesamerica.com.
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