The Importance of Financial Advisors

Jim Byrd from Safe Harbor Financial stopped by Studio10 to talk about the importance of the relationship between clients and their financial advisors.

Below is a list of some of the questions and answers discussed on Studio10.

How important is the relationship you have with your clients?

When James Byrd decided to become a Financial Advisor, he was driven by a genuine need and passion for helping his clients achieve the things they have wanted for themselves and the people they care about. It became his mission in life to create a business based on trust and compassion and passing on his vast knowledge and 30 years of  experience so his clients feel comfortable as they enter retirement. You could say Jim is a “Life Coach” but for finances. Jim provides each potential client with the information, support and guidance needed in order to make a sound, informed decision on their financial future.  

How can you assure your senior investors that they will not run out of money in retirement?

If you ask retirees what they fear most, most will say it’s running out of money. The internet, television, newspapers and magazines are flooded with flashy ads, promises of guarantees and big names. However, there is a lot of misinformation about these insurance products especially annuities. In the past few years annuities have evolved significantly.  Market volatility has shaken consumer confidence and with nearly 78 million baby Boomers retiring or nearing retirement wanting to protect their nest egg, insurers were led to “rethink” the annuity and how it fits the needs of today’s investor.  What they came up with is the Hybrid Annuity.  Hybrid Annuities for retirees have significantly gained in popularity. Demand over the past few years has grown faster than all other annuity types and had become a favorite with advisors as an important product to in investor’s portfolio.
     
What makes the hybrid annuity so appealing to retirees?

Simply put, annuities are the safest way to get a good return on your money without the risks. The appeal is to safety, income, and growth. Hybrid annuity refers to a combination of the best features of various annuities that have been combined to create the Hybrid Fixed Indexed Annuity.

Benefits of this type of annuity include:
    
•    Five to seven percent growth of the base for future growth
•    Upside market potential
•    No actual market invest so no downside to risk
•    Pension styled income that cannot be outlived
•    Ability for heirs to receive the full account value
Hybrid annuities should be considered as a valuable piece of your retirement plan so if you are interested in this kind of annuity talk to an independent advisor that will work to make sure you select the right annuity for you!

Are there Long Term Care benefits with hybrid annuities?

The newest addition to the hybrid annuity links long term care benefits to a single     premium deferred annuity. This product starts as an annuity and if no care is needed, the annuity accrues interest acting like any other fixed annuity. But if the owner/annuitant needs care in a nursing home there is a formula used to settle on the amount of the monthly benefit available to the client. For example; a healthy 65 year old woman who     deposited $150,000 into this account would have the benefit of tax-    deferred, safe growth in the annuity and approximately $4,700 a month of long term care benefits for 36 months. At an additional cost, a benefit rider can be added to this policy which would provide the $4,700 monthly benefit for her lifetime! The additional benefit rider is usually a wise purchase in order to obtain maximum guarantees.

For a free comprehensive personal review of your financial portfolio or to make an appointment with Jim, email Jim at jbyrd@safeharfin.com or call 1-251-625-1226 or toll free at 1-877-251-1984.

Find out how to get a free copy of his DVD or book, The Ultimate Success Secret, email Jim at jbyrd@safeharfin.com or call 1-877-251-1984.

Safe Harbor Financial Services
9056 Merritt Lane
Daphne, AL 36526
Call Toll Free: 866-251-1984 or local 251-625-1226
www.safeharfin.com

Sponsored by Safe Harbor Financial Services