November 2021 NAPFA Advisor Magazine - Full Issue-November 2021 NAPFA Advisor Magazine

November 2021 NAPFA Advisor Magazine - Full Issue

Pdf Summary

Financial planners should educate themselves on the financial impact of dementia and how to assist clients who are affected. Acting early is crucial as dementia care costs can be high. Advisors should protect clients' finances, identify warning signs of dementia, and have conversations about concerns. They should create a plan for memory issues, ensure legal documents are in place, and provide oversight to prevent financial loss. Recent financial planning trends include proposed tax increases, financial therapy, eliminating compensation conflicts, navigating liquidity events, promoting financial equality in marriages, mentoring and recruiting talent, and engagement in volunteerism. Staying informed helps advisors better serve clients in an evolving industry.

Keywords

financial planners

dementia impact

client assistance

early action

dementia care costs

financial protection

warning signs

memory issues plan

legal documents

financial loss prevention