Wealth Advisor's Guide

2023 Edition

Wealth Advisor's Guide

2023 Edition

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Wealth planning insights and strategies

Download a copy of the Wealth Advisor's Guide created by our lead behavioral finance researcher and wealth strategist, Matt Sommer, with insights into investor psychology and strategies with insights into investors' psychology and strategies to protect your clients and grow their wealth.

Retirement Confidence Survey

  • Our findings highlight areas where advisors may need to provide greater support or recommendations to clients.
  • Limited to investors age 50 and older who were the primary or shared financial decision-maker in their households, the final sample consisted of 1,926 respondents.

Best practices to help aging clients

  • To deal with the psychological challenges of retirement, successful transitions extend well beyond financial consideration. Discover ideas to add value by helping improve satisfaction in retirement and help protect clients from financial exploitation.
  • Researchers from Winthrop University and Shepherd University found having a purpose in life and social activities has a more significant effect on decreasing loneliness than if one’s wealth increased by $1 million.

Re-evaluation of the 4% spending rule

  • A 4% starting withdrawal rate, with annual adjustments for inflation, has long been considered a good “rule of thumb” to help set expectations about generating retirement income.
  • Leveraging new research, reconsider capital market and longevity assumptions when creating financial plans for clients and reset client expectations regarding retirement income.

Legislative and regulatory update

  • Stay up to date on scheduled changes from the IRS and the importance of estate planning, including the need for families to have wealth transfer conversations.
    • Estate planning for the 2026 sunset
    • Secure Act 2.0
    • Inherited IRA distributions

Emerging research in practice management

  • Incorporate insights from new research to help your practice, including the perceived value of financial plans, how to develop new advisors, burn-out, and the value of “top advisor” lists.

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Meet the experts

matt sommer

Matt Sommer
Head of Defined Contribution
and Wealth Advisor Services

Ben Rizzuto

Ben Rizzuto
Retirement Director

Download presentation

Meet the experts

matt sommer

Matt Sommer
Head of Defined Contribution
and Wealth Advisor Services

Ben Rizzuto

Ben Rizzuto
Retirement Director