Description
Book SynopsisTo truly be successful, today's financial advisor must strike the right balance between effectively engaging with his or her clients and finding meaningful ways to maintain their financial security. By framing your mission in this way, you can help your clients clarify their vision, build a plan to achieve it, and manage that plan so they stay on track.
Nobody understands this better than authors Timothy Noonan and Matt Smithtwo seasoned financial professionals with over five decades of combined experience working in the asset management business. And now, in Someday Rich, they show financial advisors with clients who are rich, or have the opportunity to become rich, how to sustain a client's desired lifestyle to, and through, retirement.
Engaging and informative, Someday Rich provides the context, description, and implementation suggestions for the Personal Asset Liability Modela process that will allow you to determine a client's funded status relative to their future spen
Table of Contents
Foreword ix
Preface xi
Acknowledgments xv
Introduction 1
Chapter 1 Time for a Real Conversation 11
Chapter 2 How We Got Here 27
Chapter 3 The Right Clients 43
Chapter 4 Connecting the Dots 61
Chapter 5 The Personal Asset Liability Model—Funded Status 79
Chapter 6 The Personal Asset Liability Model—Investment Plan 101
Chapter 7 Making a Good Business of Giving Good Advice 133
Chapter 8 Investor Archetypes 161
Chapter 9 Tripping Over the Finish Line 171
Chapter 10 On Shaping One’s Future 191
Albert Bandura
Chapter 11 Building a Simple and Powerful Solution for Retirement Saving—Russell’s Approach to Target Date Funds 203
Grant W. Gardner and Yuan-An Fan
Chapter 12 Investment Aspects of Longevity Risk 223
Don Ezra
Chapter 13 Mismeasurement of Risk in Financial Planning—A Lesson in Risk Decomposition 237
Richard K. Fullmer
Chapter 14 Modern Portfolio Decumulation—A New Strategy for Managing Retirement Income 249
Richard K. Fullmer
Appendix A Lessons Learned from Retirement Income Research 273
Appendix B The New Language of Retirement 277
About the Authors 283
Index 285
