When I started in the business back in 1988, no one really wanted advice; they wanted a product pitch. It was a transaction-based world. We were “stockbrokers,” and it was typical to pitch a stock or bond, not a strategy. No one talked about goals or needs. Your parents and grandparents were very protective of their financial information. I recall getting a lot of opposition as I focused on building a planning-based practice, decades ahead of my time. Fortunately, the world has changed. Technology offers new ways to help individuals, and Baby Boomers, Gen X, and Millennials are more educated about finance, demanding more than any previous generation.
Looking ahead, driven by AI, increasingly complicated financial options, and rising longevity, the business of financial advice is set for major disruption. It’s critical to understand what that means for investors of all sizes, ages, and experience levels.
What I love most about this business is its ever-changing dynamics. From demographic shifts to tax law changes and evolving markets, my world is never constant. It demands the ability to think smart, think ahead, and think apart from the crowd.
Over the decades, I’ve seen how financial advice has transformed — and how much it still needs to evolve. Not all advisors approach their work the same. Some still focus only on the numbers. Others, like myself, aim to understand the bigger picture of a client’s life. My intent in writing this is to help you reflect on the kind of relationship and support you have with your advisor, or what you may need—and whether it aligns with your goals, your future, and the life you envision.
In this era of longer lives, greater complexity, and rising expectations, financial advice is no longer just about what you own. It’s about how you live and how well prepared you are for what comes next.
The Longevity Dividend
We are living longer than ever before, and that changes everything. In 1900, U.S. life expectancy was 47. Today, once you reach age 65, there’s a 33% chance you’ll live to 90. For a 65-year-old couple, there’s a 50% chance that one of them will live past 92. It’s not just about living longer—it’s about living healthier for longer.
Medical breakthroughs and technology continue to push life expectancy higher. Researchers suggest more than half of babies born in industrialized nations today will live to 100. This is no longer a far-off dream—it’s becoming the new normal.
My own grandmother lived to 103. You probably have a relative who lived well into their 90s. Nonagenarians are now the fastest-growing age segment in the U.S., and by 2050, we’re projected to have more than 3.7 million centenarians. These extra years reshape everything—when we work, when we retire, and how often we shift careers or return to school.
Retirement is no longer a final chapter. It’s a multi-decade phase with evolving needs and goals. Planning for it requires more than investment returns—it requires foresight and adaptability. These are the new conversations every investor should be having with their advisor.
About 10,000 Baby Boomers turn 65 every day. Gen X is in midlife, and Millennials already have established financial habits. Gen Z is entering the workforce with fluency in technology and growing financial awareness. What they share is a rising expectation that life will be both longer and better.
That expectation—what I call a “longevity dividend”—isn’t just about how long we live, but how well. All generations now anticipate access to information, personalized experiences, smarter technology, and meaningful conversations—including around financial advice.
Which brings me to a key point: The older investor today and I’m sure those of tomorrow is not the same as past generations. Today’s investor is more educated, more technologically fluent, and navigating a new context of aging. This new reality demands more comprehensive, forward-looking guidance.
Understanding the New Context of Old Age
Longer life expectancy alone doesn’t explain what’s reshaping financial advice. Today’s older adults are navigating aging in a very different context than their parents did. That shift is quietly redefining what meaningful financial advice must look like.
Boomers and Gen X are more educated than previous generations. If they can research it, they can figure it out. Educational attainment continues to rise, and with that, a mindset has emerged: if I can research it, I can figure it out. From comparing mutual funds to understanding Medicare, today’s consumer is more proactive, more inquisitive and more empowered. Retailers and service providers have embraced this, offering personalization in ways like never before. For example, Apple’s Genius Bar and Whole Foods’ product sourcing are examples. Patient-centered healthcare apps are another example. Financial advice is not exempt. Indeed, financial advisors are no longer the only source of knowledge—they are expected to be partners in informed, values-based decisions.
Technology is no longer for the young. Adoption among older adults has soared. According to Pew Research, nearly 45% of Americans over 65 use at least one social media platform. Clients expect tech integration as part of their experience—real-time access, planning tools, and full transparency.
Our clients use personalized financial portals that reflect their total financial picture. It serves as a one-stop-shop where they can safely monitor their financial health, with daily updates and 24/7 access on everything from credit card balances and mortgage information to life insurance, 401ks and investment portfolios. They can even run simulations from their financial plan. In our view, this level of insight and control should be standard in modern advisory relationships.
Today’s investor expects to be a part of the advisory experience, from real time account access to interactive planning tools and digital documents, technology is no longer a perk; it’s the baseline.
Changing Family Structures
Family dynamics have shifted. Aging used to happen with large, nearby families. Fertility rates have dropped, mobility has increased, and hands-on support from family is no longer a given.
Many individuals are aging independently. That brings freedom for some and uncertainty for others. Financial planning must now consider: Where will I live? Who will help if my health changes? What if family isn’t nearby? These aren’t easy questions—but they’re essential.
The Challenges of Longevity
As marketing expert Theodore Levitt said, “People don’t want to buy a drill; they want a hole in the wall.” Similarly, people don’t seek financial planning for products. They want peace of mind, flexibility, dignity, purpose.
Longevity introduces new challenges that require planning. These aren’t solved with a single product. They require coordination, customization, and a mix of financial and emotional resources:
- How do I move from full-time work to something flexible without sacrificing stability?
- What’s my plan for managing healthcare needs?
- If I stay in my home, who helps me maintain or adapt it?
- If I’m a caregiver, how does that affect my own health and finances?
These are real concerns millions face. Living longer and better requires a different kind of planning.
As we live longer, the traditional concept of retirement is evolving. For many of our clients, its no longer just about stopping work - it’s a new phase of purpose, flexibility, and contribution. But that phase brings new considerations far beyond portfolio withdrawals.
I’ve seen it firsthand: the growing questions, the uncertainty about how to approach this new chapter and the quieter concern that maybe their advisor isn’t bringing these issues to the table. Let’s walk through a few of the real-life “jobs” that come with longevity and see if any resonate with you.
Making Transitions
Many of today’s retirees aren’t retiring at all - at least not in the traditional sense. Many stay engaged in work, whether by continuing in the same role, switching companies, going part-time, or even starting an entirely new career. These transitions require more than financial preparation.
Changing careers in your 60s is exciting, but it isn’t something you wing. It’s something you plan for financially, logistically, and emotionally. Therefore, if your advisor is only talking about how to "maximize your nest egg" without helping you consider what your next phase looks like in real life, something important may be missing.
Healthcare is often the elephant in the room. We talk about it in averages, but no one lives an "average" life. Chronic illnesses, such as heart disease, cancer or diabetes, don’t show up evenly or predictably. According to the CDC, 6 in 10 adults are managing at least one chronic condition. Four in 10 are juggling two or more.
These realities can dramatically affect your retirement timeline, your expenses, and your quality of life. Yet, many plans overlook what happens if your health shifts unexpectedly. Can you keep working? Will your income plan adjust? Do you know how your Medicare choices intersect with your long-term strategy? People need an advisor helping them think through these questions so as to manage risk and realities.
Providing and Receiving Care
Many clients of ours find themselves sandwiched between two roles: managing their own future while caring for aging parents, a spouse, or even grandchildren. Informal caregiving, whether occasional or constant, has become a defining part of the longevity conversation. More than 40 million Americans provide unpaid care to a loved one over the age of 50. Most caregivers are women, balancing jobs, families, and personal goals with caregiving responsibilities that can feel all-consuming. This is not just a personal challenge, it’s a financial one. That is why a comprehensive financial plan that accounts for the time, cost, and emotional bandwidth required to care for others, or even plan for your own care someday is growing in demand.
Living at Home—Safely and Sustainably
Ask most people where they want to age, and the answer is nearly universal: at home. For many, that home represents decades of memories, equity, and comfort. But staying there isn't always simple. What happens when maintaining your home becomes difficult, or perhaps even dangerous? What if driving is no longer safe? What happens when you're alone, and simple tasks like replacing a light bulb or running errands become a challenge?
Even for couples, aging in place requires foresight and resources. For solo agers (who now make up more than 1 in 4 Americans over age 60) it’s even more important to have a plan in place. The question is, has your advisor helped you build that plan?
Here's the truth: Living longer is a gift. But it's a gift that comes with new challenges, decisions, and responsibilities, many of which unfortunately aren't being addressed in traditional financial conversations.
Mapping a New Frontier of Financial Services Advisory
For much of the past several decades, financial advice was built around a single, straightforward goal: accumulate enough assets to retire. The advisor’s role, for the most part, centered on investment selection, performance, and managing market risk. That model wasn’t wrong, but in a world where we’re living longer, facing more complex decisions, and navigating aging in entirely new ways, it’s no longer enough.
With extended longevity comes a new context with new questions, new responsibilities, and a new set of challenges because we don’t want to just live longer, but better. Many of those issues, don’t fit neatly into an asset allocation pie chart.
That’s why I believe it’s important to step back and ask: What kind of relationship do you have with your advisor? And more importantly, is it the kind of relationship that fits the reality of your life?
Transaction-Based Financial Professional
This is the most traditional model, It is one many of your parents or grandparents likely had. The focus is primarily on investments and financial products: selecting mutual funds, recommending insurance policies, or executing trades. These advisors may be very skilled in market research and product knowledge, but the engagement tends to be narrow. At best, conversations may be around reaching "your number" (the amount of money needed to retire). But the client relationship is usually driven by transactions and performance reviews.
As technology continues to advance, many of the services in this model, such as basic portfolio management, account rebalancing, and retirement calculators can be automated. If a computer can help you solve for finding the right asset allocation strategy based on your needs and rebalance your portfolio, what is the value of this advice?
Of course, for some, this model may still work. But for those who have worked diligently to save and build wealth, they want to optimize the longevity potential.
Planning-Based Financial Professional
This second model goes deeper. These advisors take a more comprehensive approach, looking beyond investments to incorporate retirement income planning, tax strategies, estate planning, insurance, and other financial goals. They often involve both spouses or partners in the planning process and may host educational events, workshops, or provide regular planning reviews.
You’re more likely to have some sort of written plan with some projections for future goals, and you may have access to more holistic tools. In this case, while there’s generally a greater emphasis on understanding your needs, not just your numbers, this model reflects a growing recognition that financial advice must be more personal and more integrated than ever before. However, even in this model, there can be gaps, particularly when it comes to longevity and the risks associated with that.
Longevity-Solutions Financial Professional
This model reflects a newer, more evolved approach. It is one that’s deeply personal, highly collaborative, and built around the actual experience of living longer. These advisors go beyond traditional planning and serve as a guide through the broader journey of aging well.
We recognize that clients aren’t just trying to grow wealth; they’re trying to make meaningful transitions, preserve independence, manage caregiving demands, prepare for health shifts, and remain connected to purpose and people as they age.
In this model, financial conversations are about much more than rates of return. A well-crafted retirement plan may address taxes and income needs, but it goes deeper to address housing decisions, the emotional and financial burden of chronic illness, and how to manage the transition from full-time work to something more flexible. It connects the dots between your financial plan and the real-world logistics of aging.
This type of relationship is especially valuable for those who want to be proactive. For those who recognize that financial security is only part of the story, and that real peace of mind comes from knowing you’ve thought through the “what ifs” of a longer life.
Living longer isn’t just about having more years—it’s about having more life in those years. And that requires a new kind of advice, one that’s as dynamic, thoughtful, and forward-looking as you are.
Final Thoughts: Advice for a Longer, Smarter Life
Longevity is reshaping everything we thought we knew about retirement, and with it, the role of the financial advisor must evolve too. Investment management and financial planning remain essential, but for many, they’re no longer sufficient on their own.
I hope this paper plants a seed and encourages reflection. If your current advisor is serving you well and helping you navigate these deeper questions, that’s a valuable relationship worth keeping. But if you’ve found yourself wondering whether anyone is really looking at the full picture of your life - your health, your family, your work, your longevity, it may be time to rethink your needs. The world is changing and so, too, is your life.