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Here's the Key to Guiding Clients Through Retirement

By Crucial Clips     February 28, 2018
The following text is a transcript of a portion of a speaker's presentation made at an industry conference or during an interview. This transcript solely represents the view of the individual who spoke, and not the view of Financial Advisor IQ or any other group.
Source: FA-IQ, Nov. 8, 2017 

BRUCE LOVE, MANAGING EDITOR, FINANCIAL ADVISOR IQ: Hi. This is Bruce Love with Financial Advisor IQ, and I'm here with Coventry Edwards-Pitt, the Chief Wealth Advisory Officer at Ballentine Partners. Coventry, you've just written a book about wealth planning for aging. A lot of advisors may be looking at their clients who are just about to retire thinking, wow, there's a lot more life to be had, what am I going to do with it? Is there a role for advisors in helping their clients to understand that part of life?

COVENTRY EDWARDS-PITT, BALLENTINE PARTNERS: Yes, very much so. I've dedicated a chapter in the book to providing advisors with the tools to help clients navigate that process. My experience working with clients is they're always in a state of forward momentum, especially highly successful people. And it can take some encouragement from some outside advisor or coach to have them step back and really reflect on, how do I want to use these years? What's going to really give me the deepest sense of meaning?

Even with spouses, people sometimes have to renavigate their spousal relationship and how they use their time. You know, maybe now someone's at home a lot more, or maybe they can travel more -- but what does that mean, and where should they go? So there's a process by which people need to decide how to use these years. And I really encourage people to do that process and use this time well. I mean, especially if you have a lot of wealth as a client, time is really the finite resource, so making sure you use it well. So I think advisors can really help our clients through a process that will make them feel better about how they are using this time in their later years.

BRUCE LOVE: Thank you very much, Coventry.

COVENTRY EDWARDS-PITT: Thank you, Bruce. Pleasure to talk with you.