Contributed by: Melissa Parkins
I recently attended the Branch Possibilities Conference at the Raymond James home office in St. Petersburg, Florida. The theme this year was "Working with Aging Clients". I had high hopes of receiving quality information that I could bring back to our office, like many others have been able to do in past years. My time there exceeded my expectations. Not only did I have a great time away from the office (and in some warm and humid weather!), I met a lot of interesting and intelligent people, got to collaborate with other RJ associates and learned more than I expected to about opportunities at Raymond James, including new technology, that we hope to share with clients in coming months.
My top takeaways:
- I heard a lot about the work RJ has been doing regarding future quality of life. Their research was used by many different presenters at the conference. One of the main themes revisited throughout the entire conference was the three questions that can be used to predict future quality of life: Who will change my light bulbs? How will I get an ice cream cone? Who will I have lunch with? For more on how the answers to these questions can provide valuable insight on housing and quality of life issues, take a look at this blog by Sandy Adams, CFP®. These are three simple and innovative questions that clients, families and planners should be discussing to assess preparedness for long life in retirement.
- The value of debt, especially for an aging client, was another hot topic. I learned of the new lending options available for all clients based on securities through Raymond James bank (lines of credit, mortgages, etc.). These new lending opportunities open up planning options for clients of all ages that weren’t present in the past. We look forward to conversations with clients about these opportunities during meetings in the coming months.
- Social Security continues to be a hot topic as it relates to retirement income strategies. We talk a lot about this with clients as they prepare for retirement. The presentations at the conference connected a lot of dots for me personally, and we look forward to continuing to put Social Security strategies to work for our clients in the context of their lifelong retirement income planning.
This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Melissa Parkins, Registered Client Service Associate and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete.