When onboarding new clients, financial advisors often use a three-meeting cadence: a Discovery Meeting to gather information, a Presentation Meeting to discuss the plan, and an Implementation Meeting to finalize it. While this approach works for many clients, individuals who are 12 months away from retirement face a range of complex financial and emotional considerations. These clients may benefit from a more thorough process to address their unique needs, from critical financial decisions to the logistical and emotional challenges of redefining life after work.
In this guest post, Jason Siperstein, president of Eliot Rose Wealth Management, introduces his firm’s innovative ten-meeting process for first-year clients nearing retirement. By dividing the planning into more focused, manageable sessions, Jason’s approach gives clients space to address pressing questions like, “Can I afford to retire?” while also setting the tone for a long-term planning relationship built on trust and deeper client engagement.
Jason’s process begins with a Discovery Meeting, where he forgoes pre-meeting questionnaires in favor of a more interactive, conversational approach to uncover nuanced insights into clients’ goals and concerns. Subsequent meetings build on this foundation by providing clarity on financial data and priorities, introducing actionable strategies such as retirement income guardrails, and stress testing plans to ensure they remain sustainable under various scenarios. The process also includes critical discussions around estate planning and the emotional and social aspects of retirement, recognizing that this major life transition can involve new goals as clients adapt their purpose and identity to a new lifestyle.
A key factor in the success of this process is the intentional structure that Jason has developed to keep the client experience both high-touch and efficient. By setting aside Wednesdays to work ‘on’ the business rather than ‘in’ it, Jason’s team continually refines the firm’s workflows and processes. This focus on incremental improvements ensures a seamless client experience while maintaining the personalized service that sets his firm apart. In addition, Jason’s team has built flexibility into their process, tailoring the ten-meeting structure to meet the unique needs of each client, whether they require more detailed exploration or a streamlined approach.
Ultimately, the key point is that clients facing major life transitions, such as retirement, benefit from a deeper and more structured planning process. By providing clients with a clear roadmap for retirement, reducing uncertainty, and providing a sense of control during a pivotal time in their lives, advisors can set the stage for a planning relationship built on trust and long-term collaboration. Which also gives advisors the opportunity to deliver significant value by addressing both the financial and personal priorities of a client’s retirement, helping clients move forward with confidence and excitement as they embrace the next chapter of their lives!
Read More…
