How to Conduct a Business and Personal Retirement Needs Analysis

Learning Objectives

• To analyze how to implement an introductory plan to help establish trust and rapport.
• To discuss how to create and implement a plan based on objectives as well as measurements of success.
• To inspect the client’s unplanned and planned income and expenses.
• To analyze how to conduct a business and personal retirement needs analysis.

Course Description

Many producers conduct fact finders or financial needs analyses as they meet new consumers – but do they conduct them well.

Financial analysis is meant to review substantial debt and equity ratios and become the epitome of financial improvement. The concept here is to implement strategies that enable you to become a trusting financial specialist so that clients do not withhold information to help you produce the best plan possible.

A qualified financial planner carries out a needs analysis to determine the current state of your finances and your future financial needs. A needs analysis ensures that you are not sold any particular financial product without an overall assessment of your finances and existing financial position. For example, in the past, a salesperson would have been able to sell you a life insurance policy without assessing your affordability and existing policies.

The legislation now requires financial service providers to do a financial need analysis for every client. The benefit to the client is that after a needs analysis you will have a holistic view of your finances and would be able to make an informed decision.

In this Finance Continuing Professional Education Course speaker, Drew Stevens will explain how to conduct a business and personal retirement needs analysis.

Overview

• RITA: General Retirement Stats

  7 mins
• Issues with Planners

  11 mins
• Best place to begin

  22 mins
• Personal Intake

  27 mins
• What should the client bring

  34 mins
• Retirement analysis

  38 mins
• Why companies fail?

  44 mins
• Succession or Exit plan

  47 mins