Skyrocketing inflation and fear of a possible recession create both challenges and opportunities for financial advisors. By properly personalizing their recommendations to each client situation, advisors can better help them stay on track to meet long-term financial goals.

"In an era where social obligations and interactions often require spending money, financial advisors should not be surprised when their clients say they cannot reduce some kinds of nonessential spending," said Randy Scritchfield, CFP, LUTCF, immediate past president of Million Dollar Roundtable (MDRT). "Rather than attempting a one-size-fits-all solution, advisors must meet clients where they are and find the best fit for their holistic well-being.""

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.