Barron's Advisor Gina Thompson: Empowering Clients Through Education | Next Gen
Jun 18, 2025
Gina Thompson, Senior Vice President and Portfolio Director at RBC, emphasizes the importance of empowering clients through financial literacy and personalized plans. She discusses addressing client fears about financial stability and running out of money. Gina highlights navigating financial planning amidst inflation and interest rate changes while advocating for diverse income sources. She also covers the significance of setting clear expectations and effective communication with clients, alongside strategies for managing investments during market volatility.
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Detailed Lifestyle Planning
- Create a detailed lifestyle plan including a budget worksheet to assess true spending in earning and retirement years.
- Ask deep, detailed questions to uncover all expenses, ensuring spending aligns with clients’ financial reality.
Conservative Planning With Income Streams
- Plan clients' portfolios with a conservative rate of return considering inflation as a moving target.
- Include a guaranteed income stream like an annuity to ensure lifetime income.
Annuities for Retirement Income
- Use annuities as reliable, lifetime income streams that complement traditional investments in retirement.
- Choose annuities based on suitability to provide market upside with downside protection.