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The Future of Advice

May 2018 
by Bill McManus

The retirement landscape is evolving, and many investors may not be as prepared as they think they are for this stage of their life.

People are living longer, each generation is becoming more educated, family dynamics are changing, and technology is infiltrating every part of our lives. For a financial advisor, these trends may mean that your clients’ needs and their expectations of your role are expanding.

We recently hosted Dr. Joe Coughlin of the MIT AgeLab to discuss how advisors can transition into what the MIT Age Lab has coined a “longevity-based advisor.” A longevity-based advisor guides clients with education, resources, and solutions to the challenges that longer lifespans and this new retirement can present.

1. Education
Your clients are well aware of the fast-paced, changing world we live in, but they may not always be informed on how these changes impact them. Sharing your own personal insights and experiences can help clients understand that you empathize with what they are up against, and that you are in a position to help them. You can also help them understand where they fit in this new world by sharing information about how to keep their skills up to date, or help them better understand their options in the new sharing or “gig” economy.

2. Resources
One of the major challenges older people come across is how to safely and independently age in their own home. They may think they are perfectly capable, but then find themselves at a loss when repairs need to be made. Connect these clients with a network of service providers, such as landscapers, maintenance people, and contractors who specialize in home modifications for those with limited mobility, who can allow them to age in place. If a client is adamant about wanting to age in place, you could discuss with them how to enhance and transform their home for optimal living.

3. Solutions
While adults age 65+ are becoming more comfortable with technology, they may not realize all of the health and wellness benefits it can offer. Show your clients how to use certain health- and wellness-related apps that can allow them (and their families) to spend less time worrying and more time enjoying their retirement. App solutions include health monitoring, transportation services, and grocery-delivery services. Show your clients how easily these on-demand resources work, and how they could aid in their independence as they age.


Retirement is not what it used to be. As clients live longer, they are often unprepared for the challenges that they could face, resulting in a decline in retirement satisfaction. By incorporating the longevity advisor model into your practice, you can help prepare your clients for an enjoyable retirement. Provide a space where clients feel comfortable to discuss what is really on their minds, and tailor the guidance you offer up accordingly. With your suggestions regarding housing, transportation, health, and social connections, the financial advisor can be the confidante senior citizens need to navigate this new landscape.

Access our The Future of Advice Workbook walk-through with John Diehl for more insight on how to expand your practice.

Bill McManus
Director, Strategic Markets

Bill is part of the Strategic Markets Team for Hartford Funds. In his current position, Bill 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.

Bill joined the organization in 2003 as an advisor consultant responsible for marketing Hartford Funds in Virginia and West Virginia. Bill earned his Certified Investment Management Analyst (CIMA®) designation, is FINRA Series 7 and 63 registered, and holds his life and variable insurance licenses.

Bill has been widely quoted in consumer and trade publications such as US News and World Report and Wealth Management.com. He has also appeared as a featured guest on Bloomberg Radio to discuss his views on retirement-related topics.

Originally from Smithville, New Jersey, Bill attended the University of Pennsylvania where he earned a bachelor’s degree in political science. He currently lives in Philadelphia, Pennsylvania.

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Bill McManus is a registered representative of Hartford Funds Distributors, LLC.

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