Detailansicht
Someday Rich
eBook - Planning for Sustainable Tomorrows Today, Wiley Finance
ISBN/EAN: 9781118167526
Umbreit-Nr.: 3655885
Sprache:
Englisch
Umfang: 320 S., 11.09 MB
Format in cm:
Einband:
Keine Angabe
Erschienen am 25.10.2011
Auflage: 1/2011
E-Book
Format: PDF
DRM: Adobe DRM
- Zusatztext
- To truly be successful, todays financial advisor must strike the right balance between effectively engaging with his or her clients and finding meaningful ways to maintain their financial security. By framing your mission in this way, you can help your clients clarify their vision, build a plan to achieve it, and manage that plan so they stay on track.<p>Nobody understands this better than authors Timothy Noonan and Matt Smithtwo seasoned financial professionals with over five decades of combined experience working in the asset management business. And now, in Someday Rich, they show financial advisors with clients who are rich, or have the opportunity to become rich, how to sustain a clients desired lifestyle to, and through, retirement.</p><p>Engaging and informative, Someday Rich provides the context, description, and implementation suggestions for the Personal Asset Liability Modela process that will allow you to determine a clients funded status relative to their future spending needs as well as develop and monitor their investment plan accordingly. While the methods in the Personal Asset Liability Model may not have been practically accessible to past advisors with a large number of clients, this model now brings together the technical methods to answer important client questions in a way that is feasible and includes the communication strategies that can make the delivery of the advice model more effective.</p><p>Along the way, this reliable resource discusses the business of giving good advice and addresses how to incorporate these steps into a client engagement road map. Insights on various other issues associated with this discipline are also included, such as how to develop client trust and deliver personalized service when you have so many clients, and contingency riskslife, health, disability, and long-term carethat need to be considered in the financial planning process. And in later chapters, single-topic essays, contributed by experts in the financial planning field, cover issues ranging from target date funds and the investment aspects of longevity risk to modern portfolio decumulation.</p><p>Building more valuable relationships with your clients is a difficult endeavor. But with Someday Rich, youll discover what it takes to achieve this goal as you put them on a path to a sustainable financial future.</p>
- Kurztext
- InhaltsangabeForeword ix <p>Preface xi</p><p>Acknowledgments xv</p><p>Introduction 1</p><p>CHAPTER 1 Time for a Real Conversation 11</p><p>CHAPTER 2 How We Got Here 27</p><p>CHAPTER 3 The Right Clients 43</p><p>CHAPTER 4 Connecting the Dots 61</p><p>CHAPTER 5 The Personal Asset Liability Model—Funded Status79</p><p>CHAPTER 6 The Personal Asset Liability Model—InvestmentPlan 101</p><p>CHAPTER 7 Making a Good Business of Giving Good Advice 133</p><p>CHAPTER 8 Investor Archetypes 161</p><p>CHAPTER 9 Tripping Over the Finish Line 171</p><p>CHAPTER 10 On Shaping One’s Future 191<br /><i>Albert Bandura</i></p><p>CHAPTER 11 Building a Simple and Powerful Solution forRetirement Saving—Russell’s Approach to Target DateFunds 203<br /><i>Grant W. Gardner and Yuan-An Fan</i></p><p>CHAPTER 12 Investment Aspects of Longevity Risk 223<br /><i>Don Ezra</i></p><p>CHAPTER 13 Mismeasurement of Risk in Financial Planning—ALesson in Risk Decomposition 237<br /><i>Richard K. Fullmer</i></p><p>CHAPTER 14 Modern Portfolio Decumulation—A New Strategyfor Managing Retirement Income 249<br /><i>Richard K. Fullmer</i></p><p>APPENDIX A Lessons Learned from Retirement Income Research273</p><p>APPENDIX B The New Language of Retirement 277</p><p>About the Authors 283</p><p>Index 285</p>
- Autorenportrait
- <p><b>TIMOTHY NOONAN</b> is Managing Director of Capital Markets Insights for Russell Investments and a leader in the U.S. private wealth management industry. He is responsible for shaping client service strategies and delivering capital markets analysis to advisors in the U.S. and around the world. Noonan is currently Chairman of the Russell Strategic Advice Committee and has been the architect of Russell's Helping Advisors initiative, which since 2008 has offered advisors in the U.S., UK, and Australia insights to help advisors and their clients cope with retirement investing in a hostile economic climate.<p><b>MATT SMITH</b> is an independent consultant and author and coauthor, respectively, of two other Wiley Finance books,<i>Managing Your Firm's 401(k) Plan: A Complete Road Map to Managing Today's Retirement Plans</i> and<i>The Retirement Plan Solution: The Reinvention of Defined Contribution</i>. He was formerly senior vice president and defined contribution practice leader in the United States for Aon Consulting. Prior to Aon, Smith was managing director of retirement services for Russell Investments. He has been involved with the design, implementation, administration, consulting, and asset management of retirement plans for over twenty-eight years. Smith has written and spoken widely on topics involving retirement plans during his career.