Finance

Jitters About Long Retirements

“It requires a great deal of boldness and a great deal of caution to make a great fortune, and when you have got it, it requires ten times as much wit to keep it.” This quote by Ralph Waldo Emerson is the guiding principle of T. Brian Hayes, president, and his team of financial planners at the Kokomo, Indiana-based Hayes Advisory Group. “Education,” “specialization” and “fiduciary” are three mission-critical keywords in this firm where a one-on-one relationship with clients is the norm.

Our mission is complex and cumbersome, yet so simple and clear - to manage, protect, preserve and maximize our clients assets, incomes and wealth using the most up to date and revolutionary products, tools, designs and strategies with an unprecedented level of expertise, service and attention.

After graduating from college with a degree in accounting and a minor in business management, Hayes worked for a finance and insurance company that offered “everything to everybody.” Returning to school, he acquired the knowledge he needed to become a self-employed licensed specialized financial planner.“If I was going to be the best at something – or one of the best – I was going to have to be specialized in something,” Hayes recalls. “The second thing I learned was that, in order to really take care of the client the best way, I was going to have to be independent.”

Today, Hayes Advisory Group specializes in retirement and estate planning. Its clients are primarily retirees and those about to retire, in the  45and older age range. “We are an independent firm, which basically means we have access to the world of options so as to be able to take care of clients in the best way.” Hayes will need every modicum of these options to be able to stave off the effects of rapidly changing retirement demographics.

The 10-plus year retirement plan is being replaced by a 30-40-plus year retirement strategy. Planners can no longer afford to focus only on helping clients retire well, but also need to prepare them for long-term care and its financial implications. “People need professional income planning to help ensure that the money is going to last,” says Hayes – who believes in asking the tough questions in order to chisel out the best plan for his clients.

“We have a hands-on, personal, one-on-one planning approach to really provide the most up-to-date and accurate planning, with the services that clients desire,” explains Hayes. He carefully cautions clients to avoid inaccurate information online. “And that’s very important these days, especially in this type of market where things are changing so rapidly.”

Hayes, a fiduciary who prides himself on operating his firm with a strong sense of fiduciary duty, also firmly believes in stricter industry standards to rein in rogue financial advisers. “With the fiduciary standards, it is much stricter, as the adviser is required by law to act in the best interest of the client,” Hayes emphasized . He is also an uncompromising believer in education.

Likening market volatility to unpredictable weather, Hayes advises clients to work with trained, experienced financial planners who are good fiduciaries. “You have to have the right type of wealth management systems in place that uses the proper risk management processes to be able to handle extreme volatility – and grow and protect clients money in all market environments.”

For more information visit: www.hayesadvisorygroup.com

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