Helping Your Clients Transition Into Retirement and the Importance of Innovation with Steve Gresham

Apr 20, 2021

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In this episode, Jack Sharry talks with longtime colleague Steve Gresham, CEO of The Execution Project, a consulting firm that works with advisors and their firms to help advisors better serve the needs of retiring clientele.

For many of us, the questions, stressors, and concerns of our clients are changing. As Baby Boomers hit retirement age, it’s our responsibility as advisors to help them afford healthcare and alleviate concerns about outliving their money.

A believer in innovation, Gresham advocates for the use of tools and training when it comes to helping advisors meet the needs of their ever-evolving clientele.

Jack and Steve talk about segmenting clients, the role of technology in the financial industry, and dealing with disruption head-on.

“The markets have been ripping ahead but the clients have been slowing down. So we see them taking money out, we see them thinking about alternatives, and we need to turn that around. But if they don’t know where they stand, they cannot plan for anything better. So giving very solid answers to somewhat amorphous but critical questions is part of our job. Help them understand exactly where they are and what’s realistic for them to be able to do from there.” ~ @thegreshamco

Main Takeaways

Demography is real. Baby Boomers, the largest generation in American history, are reaching retirement age and financial advisors must develop a different level of emotional intelligence and empathy to engage this aging generation.
Clients rule the conversation. Simplify your counsel by giving clients straight answers when they ask questions.
Commit to innovation. Find ways to create something that’s customer-centric and advisor-supported without hiding it from the people who can help build it. If you don’t start innovating now, it will be hard to catch up later.

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