Although both gold and platinum are rare earth metals, platinum is rarer and thus has a higher value. Like platinum record sales is more valuable than gold because the artist sold way more albums or singles.

The idea for this blog came from a recent article in Financial Advisor magazine titled A Golden Opportunity. The article is from a presentation at the Financial Planning Association’s annual conference in Chicago by Steve Vernon about the results of recent research by the Stanford Center on Longevity. The impetus also came from the many articles about “holistic” financial planning.

The article does a fantastic job pointing out that clients are living longer which creates the need for different strategies and advice from advisors.  When people near retirement, they often want a change from what they are currently doing, but don’t really know to go about making this change.  This creates an opportunity for financial advisors to implement financial strategies to go along with their lifestyle changes- what the client really wants to do during this time.  The article includes a list of 10 Issues to Discuss with clients to help them work through whether they will have financial freedom later in life- during retirement.

Providing this information and working with clients to help them prepare for a secure retirement, one that clients can be confident that they have the financial resources, is, as the title suggests, a “golden” opportunity for advisors to add meaningful value to their client’s lives.

But could there be an additional way(s) to add even greater value for clients approaching retirement?

The term “holistic financial planning” is being used more and more; however, I suspect that many firms do not offer truly holistic services to each of their clients.  There are likely many slightly different variations of what holistic planning means to both advisors, clients and consumers.  I believe, at the very basic, it means that financial planning is more than just about the person’s money.  It encompasses the person’s physical, mental, social and spiritual aspects of their lives.  Each of these areas is somewhat interconnected, and often connected to a person’s finances.

Advising a person transitioning into retirement requires helping them define and develop their purpose and path during this time- guiding their transition into the often unknown time referred to as “Retirement.”  Shouldn’t holistic planning involve integrating each of these non-financial aspects of a person’s life so that the person isn’t wandering aimlessly, which is quite common after they retire?  Holistic planning, then, allows clients to move forward in their lives with clarity and confidence (having a purpose) and is based on what is most important (what they believe in and value) to that person.

Similar to platinum being rarer than gold, and thus more valuable, so too is offering services to your soon-to-be retired clients that will help them create fulfilling lives. A service that your clients want and need. Retirement coaching is a service that very few financial advisors offer, as rare and valuable as platinum.

Retirement coaching helps clients look at their lives approaching and into retirement.  It helps them examine the mental, physical, social and spiritual aspects that confront us during retirement and helps people create a plan that covers each of these areas.  This is an important component of holistic financial retirement as it relates to planning for a person’s retirement.

My retirement coaching planning service The Other Side of Retirement, guides people through the mental, physical, social and spiritual areas of their lives. The specific non-financial topics listed below are aspects that clients need to plan for that provide client’s clarity, confidence and purpose.

The graphic below is one I use to explain the program to clients

Each of these topics should be looked at prior to retirement so clients can transition to this phase of their lives with confidence and clarity.  Each topic requires some reflection, communication with a spouse/partner, and answering a number of questions to make a successful transition.

By adding the non-financial planning aspects to the financial aspects, your clients can truly have a holistic planning experience and one that puts your firm in the rare platinum service level.

If you would like to learn more about how My Life’s Encore The Other Side of Retirement non- financial aspects of retirement planning services can be added to the services you provide to your clients, call me at 952-994-8937 or

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