How to help financial advisor clients save money
As healthcare costs continue to skyrocket and affect Americans near or in retirement, financial advisors are increasingly integrating healthcare advice into their practices.
From Medicare costs in retirement to paying for long-term care, healthcare is a key part of a comprehensive financial plan.
Rather than develop the healthcare expertise in house, many advisors are partnering with outside firms such as Bernard Health to offer this advice. Learn more about the Healthcare Extension through Bernard Health here.
If this is the approach your firm has taken, here are three strategies for success, and getting the most ROI out of your investment by using it as a competitive differentiator.
Include in prospecting—causally
Don’t lead with healthcare costs, but do be sure you let prospects know that you’ve identified healthcare as an area of need and are prepared to offer expert support.
At this point, the industry has raised the warning bells that retirees need to be integrating healthcare into their planning, but the majority of advisors aren’t yet where they need to be in this space. So if you can take a lead, you’ll have a clear competitive differentiator.
Rollout services with a plan
Successful firms have planned ahead for implementation and roll-out. For example, ensuring consistent communication to clients and scheduling regular seminars for clients and prospects, on topics include government changes to Medicare or getting healthcare right for business owners, self-proprietors and early retirees.
Working with clients to understand their needs and to measure the impact of the service will help you achieve the highest return on your investment. Compiling data around estimated healthcare savings by client and in aggregate allows you to be more qualitative about the service you are providing and its value.
To learn more about the Healthcare Extension, download “Case Study: Healthcare Extension through Bernard Health.”
To speak with a Bernard Health representative about the Healthcare Extension, click below.