In his latest column for Financial Adivsor Magazine, Cordell & Cordell Principal Partner Joe Cordell explained the value that financial advisors can potentially bring to seniors.
With the population of seniors growing exponentially, there is a growing need for qualified professionals to help develop long-term financial and health-care plans.
“The plethora of options that exist in terms of insurance, Medicare and Medicaid, housing opportunities, etc., can be overwhelming and most of these are extremely complex,” Mr. Cordell wrote. “Financial advisors who take it upon themselves to learn the inner workings of these programs would open themselves to an underserved niche business practice.”
In past generations, seniors typically moved back in with your children once they reached a certain age. Today, the majority of seniors are more interested in “aging-in-place” rather than move in with their kids or into a retirement home. This presents some unique challenges.
“Professionals who work with seniors are becoming increasingly sensitive to this objective that is almost universal; however, it requires extensive financial planning, insurance planning, utilization of government benefits and more.”
Written by Joseph E. Cordell
Joseph E. Cordell is the Principal Partner at Cordell and Cordell, P.C., which he founded in 1990 with his wife, Yvonne. Over the past 25 years, the firm has grown to include more than 100 offices in 30 states, as well as internationally in the United Kingdom. Mr. Cordell is licensed to practice in the states of Illinois and Missouri and received his LL.M. from Washington University in St. Louis, Missouri. Joseph E. Cordell was named one of the Top 10 Best Family Law Attorneys for Client Satisfaction in Missouri.
