Webinar Replay: Bridging the Gap: How Visual Planning and Annuity Expertise Elevate Client Conversations
Estimated recap reading time: 2 minutes
Asset-Map team members discussed the benefits of using visual tools like Asset-Map and Annuity Giants to engage clients, understand their financial situations, and provide tailored recommendations, particularly around the appropriate use of annuities. The conversation highlighted how these tools can help financial advisors build credibility, save time, and have more meaningful conversations with clients, ultimately leading to better financial planning outcomes.
Key points
Alison introduced Asset-Map, a visual financial planning tool that helps clients and advisors engage in the planning process.
Tracy presented the Annuity Giants Agents Academy, which trains advisors on when and how to properly use annuities.
Adam emphasized the importance of understanding the "exit strategy" for different assets and how annuities can provide guaranteed income.
The Asset-Map showed Nick and Eleanor's financial situation, including potential pension and annuity income sources.
Adam explained that annuities can serve multiple purposes (asset, income, death benefit) and the cost is justified by the value they provide.
Longevity risk is a key consideration, and annuities can help mitigate this risk.
The Target-Map analysis showed how an income annuity could outperform an accumulation annuity for Nick and Eleanor's situation.
Adam discussed how to communicate the role of annuities and other financial tools to clients based on their risk tolerance and income needs.
The Target-Map visualization helps clients understand the importance of having 50-70% of their retirement income needs covered by guaranteed sources.
Overall, the discussion highlighted how Asset-Map and annuities can be used together to have meaningful conversations and solve client problems.