Retirment Planning Survey continued from page 45
27.6 % in commodities, 23.9 % in private equity and 21.4 % in long-short strategies. A little more than one in 10 said their clients had crypto.
On the other hand, two-thirds of the advisors said they have no plans to recommend private equity or private credit to pre-retirees or retirees.
When it comes to withdrawing money in retirement, the surveyed advisors have not strayed far from Bill Bengen’ s 4 % rule. Thirty-nine percent recommend that their clients start by taking between 4 % and 5 % of their portfolio, adjusted annually for inflation; 21.6 % recommend 3 % to 4 % in the first few years of retirement; and 25.7 % said they adjusted the withdrawal rate every year, depending on several factors.
Gresham says that withdrawing less than 5 % translates to less than $ 100,000 annually( pretax) for most clients and is“ a prudent approach” when considering that families might face unexpected health emergencies or be called upon for family support— including help with children’ s education funding. Such unexpected costs could“ create withdrawal surges that can destabilize well-constructed plans,” he says.
Not surprisingly, advisors named Social Security as the top source of income for their retired clients: 74.6 % of their clients collected the benefit. Another 63.5 % got income from an IRA. And 45.4 % got it from a taxable brokerage or savings account.
The survey also picked up on the increasing trend of more people choosing to work well beyond retirement age. Advisors say an average of 77.4 % of their clients
55 or older are planning to work until age 65 or later, and an average of about 29.8 % of clients 65 or older still work.
Advisors said that 93.1 % of their clients who are still working do so because they enjoy it, while 48.8 % said the clients feel they are not financially ready to retire, and 37.8 % said the clients were doing it for health insurance.
And when it comes to living arrangements in retirement, home is where the heart is. Advisors say 70 % of their clients want to stay put. Another 19 % want to downsize, and 10 % wish to maintain two homes for different seasons.
Laura points out that people often think about aging in place as being independent. But it’ s much more about identity, he says.“ And so technically your house is kind of one of the last pieces of your identity that you potentially have to let go.”
Parting Shot continued from page 60
Real behavioral coaching isn’ t about telling clients not to panic— it’ s about understanding why they panic. It’ s about asking high-gain questions that go deeper than risk tolerance, like: What does financial independence feel like to you? Who do you worry about most when you think about your wealth? What would make this next chapter of your life meaningful?
Advisors who truly listen earn credibility during good times and calls during bad ones.
Of course, this is not an argument to ditch the tech stack and go live in an analog bunker surrounded by paper statements and rotary phones. The future belongs to advisors who use technology brilliantly— just not blindly.
Let automation handle the grunt work— data collection, scheduling, reporting, account aggregation— so you can show up fully present. Let AI enhance your research and prep, but not lead your client conversations. Use workflows to reduce friction, but use your humanity to reduce fear.
Because here’ s what no algorithm can do: notice when a widow hesitates after seeing the name of her late spouse still listed on the account. Understand why a client can’ t bring themselves to update their beneficiaries. Recognize the joy in a parent’ s eyes when they finally pay off the last student loan for their child. Those are the moments where trust is earned— and retained.
The current environment proves this point daily. With talk of recession still simmering, elections inflaming emotions, and markets reacting to geopolitics like a caffeinated squirrel, clients aren’ t clamoring for more charts. They want reassurance. They want someone who can translate chaos into clarity.
Empathy is not the opposite of efficiency; it’ s what gives efficiency meaning.
Financial advisors are not just managing money— they are managing uncertainty. They are managing hope. They are managing the parts of life that are too messy and emotional for a spreadsheet to solve.
The more technology advances, the more irreplaceable the human becomes.
Teddy Roosevelt said it best— people don’ t care how much you know until they know how much you care.
So yes, lean into AI. Automate aggressively. Scale intelligently. But when you sit down with a client, look them in the eye and remember: In a world of algorithms, being human is your competitive advantage.
In the end, the future of advice won’ t belong to whoever has the most code— it will belong to those who remember what all that code is for. Technology can process data faster than any human ever could, but it still can’ t read a pause, sense hesitation or understand the quiet fear behind a client’ s question. That’ s where you come in.
Every great advisor has a moment when they realize they’ re not just managing portfolios— they’ re managing people. And that realization changes everything. It changes how you listen, and how you plan. Perhaps best of all, it changes how you define success.
SCOTT WINTERS is the CEO of Financial Gravity and author of The 10X Financial Advisor: Your Blueprint for Massive and Sustainable Growth.
58 | FINANCIAL ADVISOR MAGAZINE | DECEMBER 2025 WWW. FA-MAG. COM