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In financial planning, clarity is currency. Clients who understand the strategies behind their finances stay with an advisor longer and invest more confidently. A recent study found that nearly 90% of clients consider an advisor’s engagement style when referring friends and family.

When it comes to navigating clients through a maze of technical terms, unfamiliar acronyms, and convoluted explanations, the stakes are high. The solution? Embracing simplification to help clients feel empowered and to build trust.

Retirement is something clients naturally look forward to, imagining time spent with grandchildren, traveling the world, or finally finishing their novel. But the reality is that the five years before and after retirement—known as the “retirement red zone”—are among the most critical for their financial future.

There’s nothing like using the word “great” in a phrase to get people to sit up and take notice, especially in our industry. The Great Depression, the Great Prosperity, and the Great Recession all identified periods in our history with significant economic impacts.

Now, the Great Wealth Transfer is coming. Or, considering that the oldest baby boomers are nearly 80 and the oldest Gen Xers turn 60 this year, it’s no doubt already here. So, what does that mean for you? Two crucial statistics stand out: 1) It’s estimated that $124 trillion will change hands by 2048¹ and 2) More than 80 percent of heirs fire their parents’ advisors after inheritance². This could present a serious risk—but also a “great” opportunity—for the future of your advisory business.

Can you identify the “solo agers” among your client base? They’re broadly defined as unmarried, divorced, or widowed adults with no close heirs. It’s a growing demographic and one that’s often overlooked when it comes to financial planning. Given the lack of traditional planning models for this group, there are several things to keep in mind when working with them.