Financial Planning Month: What FAQs Do You Hear From Clients?

EDITOR’S NOTE: October is financial planning month. In honor of financial planning month, AdvisorNews dives into the nitty-gritty of being a financial planner with a new and insightful topic each week throughout the month.

This week, AdvisorNews asked financial planners across the country: What are the most frequently asked questions you hear from your clients? Here’s what they had to say:

Austin Frye of Fyre Financial in Aventura, Fla., said he hears these top eight hard-to-answer questions from clients.

• Will I have enough money for retirement?
• Will I outlive my money?
• Are we going into a recession?
• If so, how will a recession affect my retirement?
• Is my portfolio safe?
• What happens when I die? Do I need a Will or Trust?
• Do I need life insurance?
• What is the best way to pay for my kids’ education?

In addition to these FAQs, Fyre said his clients ask about politics and how politics may impact their portfolios and the economy.

Laura Bereiter of White Oaks Wealth in Minneapolis said Social Security and taxes are at the forefront of her clients’ minds.

Bereiter often gets asked:

• When should I start Social Security?
• How can I reduce my taxes?

In the litany of retirement questions, Daniel Lask of Vienna, Va., said two come up regularly with his clients:

• When do I have the option to stop working and still maintain my lifestyle? Or,
• When can I retire?

Marguerita Cheng of Blue Ocean Global Wealth in Maryland said she is frequently asked about their progress:

• Are we on track?
• Should we do anything before year end?

AdvisorNews Managing Editor Cassie Miller may be reached at cassie.miller@Adnewsfeedback.com. Cassie has an extensive background in magazine writing, editing and design. Follow her on Twitter @ANCassieM.