Active investment management’s weekly magazine for fee-based advisors

Allen Jenson • Foley, MN
Caliber Financial Group • SagePoint Financial Inc.

After more than 35 years in the financial-services industry, I remain driven to provide our clients with an exceptional financial- and retirement-planning experience. I also would like to see our firm continue to grow, and I have started to work on a concrete succession plan—two things that I think go hand in hand. I am training my son-in-law, Michael Siegler, to become a full-time financial advisor. Michael is already a tremendous asset to our firm, working on administrative, marketing, technology, and customer-service initiatives.

Both Michael and I are very focused on the demographic trends in the U.S. About 10,000 baby boomers retire in the U.S. each day, a trend that will be winding down after 2030. There is a tremendous opportunity to serve a new generation of clients, who, in addition to having their own careers and retirement savings, will be the beneficiaries of the boomer wealth transfer.

We are working hard to expand our client base beyond baby boomers to work with Generation X—and even the millennial generation that follows. I think bringing a younger advisor into our firm will help tremendously in that effort. We recognize that the lifestyles and financial objectives of different generations may vary from those of boomers, as do their preferences in the specifics of how they may want to engage with financial advisors. We want to be well prepared for the changing needs of these potential clients.

We strive to continue to thoroughly address legacy planning with boomer clients—and clients who are even older—and to become familiar with their beneficiaries. It is a well-known fact that when wealth passes from the parents to their children, less than 15% keep the same advisor. We want our percentages to be much higher than that. I think this starts with strong relationships across the board and providing outstanding, dedicated service.

We actively ask clients if they would like to involve their children in the financial-planning process, joining our meetings. We are constantly trying to involve the next generation in a variety of ways, including them on our newsletter mailing list and making sure information for all client beneficiaries is up to date. Children of clients are always welcome to visit our office just to get to know us on an informal basis. Ultimately, we think our commitment to the principles of being trustworthy, acting with integrity, and demonstrating strong character will help to distinguish our firm.

Disclosure:​ Securities and advisory services offered through SagePoint Financial Inc., member FINRA/SIPC and a registered investment advisor. Caliber Financial Group is independent of SagePoint Financial Inc.

Photography by Marla Olivia

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