For aspiring advisers, it’s important to understand that retirement planning is about much more than numbers for your future clients. In the coming weeks we’ll be sharing resources from Fidelity Adviser Solutions to help you develop your thinking and focus on the psychological side of retirement.
Through extensive research conducted in collaboration with behavioural agency Cowry, evidence suggests retirement readiness is as much a psychological and social experience as it is an economic one.
The transition into retirement brings with it not only financial considerations, but also profound questions about identity, security, and trust in professional advice.
It’s likely you’ve read or heard about the importance of soft skills as an aspiring adviser and this takes things a few steps further – helping you to dig deeper into the psychological aspects of financial planning, specifically around retirement.
This article introduces the first of four videos available from Fidelity Adviser Solutions.
Video 1: Unlocking the psychology of retirement
In this first video Mana Jhaveri – Behavioural Architect Manager at Cowry Consulting helps talks us through some of the research conducted, it’s evidence and findings – noting that retirement planning is holistic.
In this five-minute video, Mana calls out that clients will often share concerns that retirement could mean losing their identity or a lack in their purpose or self-worth. None of these things are financially led!
This first video identifies three key areas that advisers can make a real difference to clients across:
- Improving financial self-efficacy
- Building trust and confidence
- Planning effectively and managing expectations
To learn more, watch the full video and access the full research report, head here: Exploring the Psychology of Retirement
Main image: brain, milad-fakurian-58Z17lnVS4U-unsplash
