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Welcome to Retirement: The Onboarding Guide Your Clients Need

November 2018 
by Michael Lynch

When a person starts a new role at a new company, companies will usually have an onboarding program that gives the new employee all of the resources and information they need to hit the ground running.

This initial training usually includes an HR orientation, a shadowing program with a tenured employee, a benefits overview, and a review of other rules and expectations.  The idea is to ensure the new hire is set up for success.

When a person enters retirement, there is no guide, handbook, or orientation setting them up for success. We should help soon-to-be retirees prepare in the same way a company helps new employees. Financial advisors are in a unique position to offer this kind of help, because they have witnessed the pitfalls, challenges, and successes of myriad retirements. Here are a few ways you can help your clients prepare for their transition into retirement.

1. Shadowing Experienced Retirees
The hardest thing about retirement for some is the unknown. Your clients may be wondering what they can do with all of their newfound free time, and the task of filling that time may be daunting. As if your soon-to-be retirees were new employees, set them up with a client who has been retired for some time who can give them a firsthand perspective on what retirement is really like. Whether they schedule regular time together or just meet up for coffee to talk, this connection can help your future retirees gain a more realistic picture of what to expect in retirement.

2. Review Benefits and Costs
Another difficulty for your clients entering retirement can be having to adapt to a fixed income, while still managing the costs of insurance and health care. Help your clients determine their current care needs as well as future needs as they age and what the financial implications of each are. With this information, they will be better equipped to understand their healthcare options and make their money last.

3. Introduce to Key Resources
As your clients enter retirement, listen to their concerns and what they feel they need to have a successful retirement. You can use what you learn to connect your clients to key resources that can help them have a smooth transition into retirement. For example, if they are concerned about where they will age, you can connect them to an expert who can outline their options, along with the pros and cons of each. In today’s day and age, there are also many technological solutions that can make aging and retirement easier that you can discuss with your clients.

Retirement can be an exciting time for many, but by ensuring that your clients are well prepared, that excitement can last past the honeymoon phase to a long and successful retirement.


Michael Lynch
Vice President, Strategic Markets

Michael Lynch is Vice President of Strategic Markets for Hartford Funds. In his current role, Mike is responsible for engaging and educating both financial advisors and their clients about current and emerging opportunities in the financial-services marketplace. These opportunities range from tactical strategies in areas such as retirement-income planning, investment planning, and charitable planning, to anticipating and preparing for long-term demographic and lifestyle changes.

Mike joined the organization in 1993 as an annuity client service specialist. In 1997, he joined the Advanced Product Marketing department, where he developed an extensive knowledge of estate and retirement planning. In 2004, Mike became a regional sales director. In 2006, he became Vice President and national director of The Hartford’s Retirement and Wealth Consulting Group, which provided thought leadership and financial education focused on retirement and small-business planning. In 2012, he joined The Hartford Mutual Funds.

Mike earned his bachelor’s degree in business administration from Eastern Connecticut State University. Mike is a registered representative of Hartford Funds Distributors. He is FINRA Series 6, 63, and 26 registered and holds a life, health and variable insurance license. He currently lives in Charlotte, North Carolina, with his wife, Kim, and their children, Josh, and Em.

Check the background of this firm/individual on FINRA's BrokerCheck.

Michael Lynch is a registered representative of Hartford Funds Distributors, LLC.

Check the background of this firm/individual on FINRA's BrokerCheck.