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Tom West is a Senior Partner with Signature Estate & Investment Advisors, LLC, providing personalized financial planning and investment services to families in the Washington DC metro area.
Suzanne Schmitt is a financial wellness expert with nearly two decades of industry experience in consumer insights, product development and positioning, and marketing and market enablement in financial services.
Tom and Suzanne delve into the complexities of family decision-making amidst aging and longevity, offering strategies for financial advisors to navigate these challenges and enhance client relationships, retention, and business growth.
They also discussed:
- The importance of understanding longevity's impact on family decision-making.
- Key topics including aging in place, managing chronic health conditions, divorce in later life, second acts, and housing for aging individuals.
- Recognizing the shifting roles within families for financial, healthcare, and lifestyle decisions.
- The difficulty for advisors in addressing holistic client needs and prioritizing discussions amidst busy schedules.
- Utilizing resources like The Conversation Project to facilitate meaningful client conversations on aging, healthcare, and end-of-life decisions.
- Meeting clients where they are, understanding their priorities, and providing support in navigating challenging discussions.
- Re-profiling clients during periods of change and understanding evolving client needs and definitions of aging well.
Resources: Signature Estate & Investment Advisors, LLC., The Conversation Project