Health and Wealth Leadership Forum, Big Brothers Big Sisters of Greater Boston

At the recent Big  Brothers Big Sisters of Massachusetts Bay’s  Health and Wealth Leadership Forum four of New England’s leading Investment Advisors, together with the Director of MIT’s AgeLab took on a topic that is gaining momentum across the investment world – Investing for Longevity.  With the population living longer, healthier lives the requirements for savings to carry further is increasingly pressuring advisors to think differently about how best to serve clients.

In addition to new financial planning and investment strategies needed to align with longevity concerns, there are a number of strategic and managerial changes that RIA firms are implementing to better address these changes.    Panel member Joseph Coughlin, Ph.D., Director of MIT Agelab introduced a number of unforeseen challenges that our aging population is encountering, including transportation, education, and livable communities.  “Some of these simple constructs display a likely clustering of products, services, and policies that might share organization and delivery models” to best address these common needs.

Chuck Bean, CEO of Heritage Financial reflected on the changing internal structure of Heritage, and how the team structure that is now in place has benefitted current clients in the delivery of a broader range of services “We’re expanding beyond traditional wealth management services to include client concierge offerings. We have a relationship with Prime Motor Group for preferred pricing on auto purchases and are considering relationships with P&C insurance carriers and travel agencies for discounts”.    Collectively the panel provided a number of other insights into ways that RIA’s can better align to meet this population shift, concluding with a commitment to continued development of additional organizational adjustments.

If you’d  like to Learn more about the BB/BS of Massachusetts Bay, or their  Health Leadership Forum click HERE