- Understanding the client's complete assets, especially real estate.
- Identifing all income sources and insurance benefits to understand if they fit the client's current and future needs.
- Focusing on intentions: Helping clients articulate their plans and wishes so that advisors can design an effective plan to meet clients' needs and goals.
- Examining the client's options for managing day-to-day financial affairs, i
The Massachusetts Institute of Technology (MIT) AgeLab recently joined forces with the Transamerica companies to discuss significant financial issues regarding patients suffering from Alzheimer's and their families, as well as to initiate a framework for new guidelines in effectively serving clients facing the disease. The meeting recently took place at the "Financial Planning in the Shadow of Dementia" symposium in Cambridge, Massachusetts. At the end of the symposium, AgeLab and Transamerica released a framework composed of five guidelines directed to financial advisers, in order to lead them in their work with both patients and caregivers. "We expect our research to improve the financial well-being of families and inform the advisor-client relationship to ensure a secure retirement for both those suffering from Alzheimer's and those who care for them," Coughlin added. The guidelines presented included: