Noonan / Smith Someday Rich

Planning for Sustainable Tomorrows Today
1. Auflage 2011
ISBN: 978-1-118-16752-6
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 320 Seiten, E-Book

Reihe: Wiley Finance Editions

To truly be successful, today's financial advisor must strikethe right balance between effectively engaging with his or herclients and finding meaningful ways to maintain their financialsecurity. By framing your mission in this way, you can help yourclients clarify their vision, build a plan to achieve it, andmanage that plan so they stay on track.
Nobody understands this better than authors Timothy Noonan andMatt Smith--two seasoned financial professionals with overfive decades of combined experience working in the asset managementbusiness. And now, in Someday Rich, they show financial advisorswith clients who are rich, or have the opportunity to become rich,how to sustain a client's desired lifestyle to, and through,retirement.
Engaging and informative, Someday Rich provides the context,description, and implementation suggestions for the Personal AssetLiability Model--a process that will allow you to determine aclient's funded status relative to their future spendingneeds as well as develop and monitor their investment planaccordingly. While the methods in the Personal Asset LiabilityModel may not have been practically accessible to past advisorswith a large number of clients, this model now brings together thetechnical methods to answer important client questions in a waythat is feasible and includes the communication strategies that canmake the delivery of the advice model more effective.
Along the way, this reliable resource discusses the business ofgiving good advice and addresses how to incorporate these stepsinto a client engagement road map. Insights on various other issuesassociated with this discipline are also included, such as how todevelop client trust and deliver personalized service when you haveso many clients, and contingency risks--life, health,disability, and long-term care--that need to be considered inthe financial planning process. And in later chapters, single-topicessays, contributed by experts in the financial planning field,cover issues ranging from target date funds and the investmentaspects of longevity risk to modern portfolio decumulation.
Building more valuable relationships with your clients is adifficult endeavor. But with Someday Rich, you'll discoverwhat it takes to achieve this goal as you put them on a path to asustainable financial future.

Autoren/Hrsg.

Noonan, Timothy

Smith, Matt

Inhaltsverzeichnis

Foreword ix
Preface xi
Acknowledgments xv
Introduction 1
CHAPTER 1 Time for a Real Conversation 11
CHAPTER 2 How We Got Here 27
CHAPTER 3 The Right Clients 43
CHAPTER 4 Connecting the Dots 61
CHAPTER 5 The Personal Asset Liability Model--Funded Status79
CHAPTER 6 The Personal Asset Liability Model--InvestmentPlan 101
CHAPTER 7 Making a Good Business of Giving Good Advice 133
CHAPTER 8 Investor Archetypes 161
CHAPTER 9 Tripping Over the Finish Line 171
CHAPTER 10 On Shaping One's Future 191
Albert Bandura
CHAPTER 11 Building a Simple and Powerful Solution forRetirement Saving--Russell's Approach to Target DateFunds 203
Grant W. Gardner and Yuan-An Fan
CHAPTER 12 Investment Aspects of Longevity Risk 223
Don Ezra
CHAPTER 13 Mismeasurement of Risk in Financial Planning--ALesson in Risk Decomposition 237
Richard K. Fullmer
CHAPTER 14 Modern Portfolio Decumulation--A New Strategyfor Managing Retirement Income 249
Richard K. Fullmer
APPENDIX A Lessons Learned from Retirement Income Research273
APPENDIX B The New Language of Retirement 277
About the Authors 283
Index 285

Über Autor(innen)

Timothy Noonan is Managing Director of Capital MarketsInsights for Russell Investments and a leader in the U.S. privatewealth management industry. He is responsible for shaping clientservice strategies and delivering capital markets analysis toadvisors in the U.S. and around the world. Noonan is currentlyChairman of the Russell Strategic Advice Committee and has been thearchitect of Russell's Helping Advisors initiative, which since2008 has offered advisors in the U.S., UK, and Australia insightsto help advisors and their clients cope with retirement investingin a hostile economic climate.
Matt Smith is an independent consultant and author andcoauthor, respectively, of two other Wiley Finance books,Managing Your Firm's 401(k) Plan: A Complete Road Map toManaging Today's Retirement Plans and The Retirement PlanSolution: The Reinvention of Defined Contribution. He wasformerly senior vice president and defined contribution practiceleader in the United States for Aon Consulting. Prior to Aon, Smithwas managing director of retirement services for RussellInvestments. He has been involved with the design, implementation,administration, consulting, and asset management of retirementplans for over twenty-eight years. Smith has written and spokenwidely on topics involving retirement plans during his career.