With longevity increasing, the state of retirement evolving, and healthcare costs rising, more and more seniors need a financial advisor’s professional guidance. So much has changed since today’s seniors’ parents were facing retirement.  

Seniors today face all kinds of new challenges and just as many opportunities. For example, seniors today often embark on a new career post-retirement or even begin a new business. However, they may also face the problematic scenario of caring for an aging loved one. As medical care gets better and life expectancy continues to increase, the need for long-term care may be longer-lasting than planned.  

All of these things can translate into a greater need for financial advising services. So how can you make sure you’re ready to serve your senior clients? 


Understand the current financial climate affecting seniors 

Before diving into specific senior issues such as retirement, Social Security, and long-term care, start by gaining a big picture idea of the financial landscape that seniors are facing. This involves everything from rising healthcare expenses and options for covering them to how seniors are still dealing with the Great Recession fallout.  

For example, retiring is more difficult in 2016 than in 1986, and many seniors find themselves going back to work only a year or two into retirement. How is this affecting their financial outlook? Are seniors who’ve gone back to work continuing to save for retirement? Being aware of these issues will give insight into your senior clients’ particular needs and challenges, allowing you to serve them better. 


Choose a specialty 

Choosing a senior-specific specialty can help your practice stand out in a crowd. Life settlements, Medicare, taxes, or long-term care are just a few potential areas. After choosing a field to specialize in, become an expert, and showcase that on your website. Seniors are becoming savvier with technology and using the internet to find services. By showcasing your senior-specific expertise, you can stand out amongst the other financial advisors on the internet.  


Tailor your office to be senior-friendly 

You may take into account seniors when developing your expertise, but what about how to arrange your office space? Your physical space says a lot about your business. Keep in mind these few factors when designing your space: 

  • Ensure there is plenty of handicap accessible parking and walkways 
  • Use large print and easy to read font on all pamphlets, brochures, and signage throughout your office 
  • Create a comfortable atmosphere using books, photos, and firm seating, which is often easier for seniors to get in and out of 
  • Use softer lighting that is gentler on cataracts 


Trusted advisors have countless opportunities to help seniors plan for retirement, long-term care, and other eventualities that are expected with longer life expectancies. Tools such as life settlements can be extremely useful in helping to differentiate yourself as a senior client advisor and provide unique solutions to your clients. To learn more about life settlements and to determine if your client should keep, surrender, or sell  their life insurance policy, contact Ashar Group today.