- Clients in your book of business may live longer than you expect.
- The number of Americans living to 100 jumped 45% from 2010 to 2015.
- Bringing Wealth + Health into your client conversations can help create a more comprehensive financial strategy.
Greeting cards can tell us a lot about larger social trends.
The big players — Hallmark, Blue Mountain, American Greetings — don’t print cards unless they think there’s a substantial target audience. Next time you’re buying a card, you’ll likely see one commemorating someone’s 100th birthday.
“Hallmark is not making these birthday cards if no one is turning 100 years old,” Transamerica annuity wholesaler Bill Tai noted during our National Sales Conference. “I’m using this 100-year birthday card as a talking point with clients because we all think we’re not going to reach that age. But reality is, more and more folks are.”
Boy, are they ever. According to the U.S. Census Bureau, there were nearly 77,000 American centenarians as of July 1, 2015. That’s a 45% jump from 2010.
Increased longevity is one of many factors driving Transamerica’s new brand launch centered around Wealth + Health. I believe this new approach could serve as a catalyst for transforming the financial services industry.
The longstanding relationship between Transamerica and our friends at the MIT AgeLab, led by Dr. Joe Coughlin, alongside the research provided by the Transamerica Center for Retirement and Health Studies, has brought us to the intersection of Wealth + Health.
The crux of Transamerica’s new Wealth + Health brand is to encourage financial advisors, agents, and professionals to look beyond the financial conversations they are having today. We encourage them to aspire to fulfill their clients’ needs to build a better future from a Wealth + Health perspective. After all, what good is wealth without health?
At our sales conference last month, more than 500 financial professionals gathered to learn, celebrate, and prepare for a new era of creating a financially sound strategy for American consumers.
I spoke with hundreds of Transamerica representatives who are embracing the Wealth + Health message. They’re already talking to their clients about everyday changes that can affect their future retirement — a time that should feature the most stress-free and enjoyable years of their life.
In addition to discussing longevity with Bill Tai, I spoke with retirement plans wholesaler Tom Briggs. I was struck by an experience Tom shared about speaking to a human resources team about the benefits offered to employees.
“Wealth and health are perfectly aligned,” Tom told the team. “If you don’t consider them both, you’re not looking at your benefits package the right way. “
In that spirit, I encourage all of you to include Wealth and Health in your client conversations. Not only can it benefit your clients, I think you’ll notice a change in your relationships very quickly.
For more tools and resources about how to incorporate Wealth +Health into your client conversations, visit Transamerica Financial Professionals. And don’t forget to follow the Transamerica LinkedIn page for the latest news and tools for financial professionals.
Be Well. Build Wealth.TM
Things to Consider:
- Don’t dismiss the importance of health when creating strategies for your clients.
- Embrace the wealth + health message as you focus on client retention and expanding your book of business.
- Explore how Transamerica can help you incorporate wealth + health in your practice.
Neither Transamerica nor its agents or representatives may provide tax, investment or legal advice. Anyone to whom this material is promoted, marketed, or recommended should consult with and rely on their own independent tax and legal advisors and financial professional regarding their particular situation and the concepts presented herein.
Transamerica Resources, Inc. is an Aegon company and is affiliated with various companies which include, but are not limited to, insurance companies and broker dealers. Transamerica Resources, Inc. does not offer insurance products or securities. The information provided is for educational purposes only and should not be construed as insurance, securities, ERISA, tax, legal or financial advice or guidance. Please consult your personal independent advisors for answers to your specific questions.