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Benefit of Aging Clients

Many people would not think of aging clients as a benefit, but in reality and aging client list can have many benefits. Many times the feeling is that clients that are of retirement age are depleting their assets and will no longer be needing services, but the truth is that many of these clients have been saving for retirement for years and will still have part of their retirement principal after thirty years. Life expectancy is increasing. Clients will be living into their 90s and they will require services for managing their retirement, and planning for when they are gone.

So what makes older clients desirable? Older clients know what they want. They have been spending years figuring out their finances, portfolios, etc. As a CPA, years have been spent building a relationship with the clients and understand the needs that can affect them after retirement. Those relationships can transition in to relationships with a new generation. The next generation will likely retain the services if the parents were treated well.

Sometimes the question comes down to losing assets. In many cases people have saves most of their adult life for retirement. If this is the case, then the assets that they have built will not be depleted easily. In the early stages of retirement, the withdrawals tend to be modest, but even if the client lives into their nineties, very few of them deplete the savings in fact some even compound their wealth if the scenarios are right.

In the end, the odds of a client dying and leaving the assets to a surviving spouse are high. That spouse then will leave the assets to the children, and so on. This is a way to build a client base into the next generation. Patience, persistence, and perspiration make an unbeatable combination for success- Napoleon Hill.

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