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New Guide Offers Tips, Tactics for Working with Older Clients

AARP, FPA offer expanded, updated guidance to financial professionals serving an aging population

August 30, 2011
Contact: Media Relations

New Guide Offers Tips, Tactics for Working with Older Clients

AARP, FPA offer expanded, updated guidance to financial professionals serving an aging population.

WASHINGTON, August 30, 2011 – Financial professionals serving America’s 77 million baby boomers and burgeoning 65-and-older population should be prepared for the evolving needs their clients may present as they age. A new edition of “A Financial Professional’s Guide to Working With Older Clients,” published by AARP and the Financial Planning Association®, outlines key issues to consider, questions to ask, and skills to develop in serving this demographic.

“Financial professionals serving older Americans play an increasingly important role in the quality of their clients’ lives,” said Michael Herndon, AARP Manager of Work and Consumer Issues. “Retirement is changing, and there is a great need for knowledgeable financial services professionals able to address the unique financial, health and emotional needs of this nation’s diverse and expanding older population.”

More comprehensive than the previous version of the guide, this update provides a more in-depth focus on managing age-and health-related transitions. It also offers:

* An expanded list of suggested services to provide to older clients—now addressing budgeting, health care planning, long-term care planning, and end of life planning.

* An emphasis on developing a professional client-advisor relationship based on mutual trust and understanding, in which the financial professional really understands the clients and their needs.

* A collection of tactics and questions that the financial professional should use when working with older clients for the first time.

* An expanded list of aging, health, and financial resources for professionals to contact if they have questions regarding working and communicating effectively with their clients.

“Whether it’s a successful business transition and planning for retirement, or isolation and changes in mental or physical capacity, financial professionals see every scenario in their work with older clients,” said Herndon. “The best financial professionals have worked with their clients to plan ahead for life’s changes, and in this guide we offer tactics and approaches that can help.”

“FPA is pleased to collaborate with AARP to offer this guide to the financial planning community,” said FPA Executive Director/CEO Marv Tuttle, CAE. “As an increasing population prepares for retirement in an uncertain economic environment, it is even more imperative to provide FPA members and the financial planning community with resources to better serve Americans.”

“A Financial Professional’s Guide to Working With Older Clients,” is available online at: To order copies of the guide, contact


AARP is a nonprofit, nonpartisan organization with a membership that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world’s largest-circulation magazine with nearly 35 million readers; AARP Bulletin, the go-to news source for AARP’s millions of members and Americans 50+; AARP VIVA, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

The Financial Planning Association® (FPA®) is the largest membership organization for personal financial planning experts in the U.S. and includes professionals from all backgrounds and business models. FPA members adhere to the highest standards of professional competence, ethical conduct and clear, complete disclosure to those they serve. Based in Denver, Colo., FPA works in alliance with academic leaders, legislative and regulatory bodies, financial services firms and consumer interest organizations. For more information about FPA, visit or call 800.322.4237.

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