financial advisors Archives

Alissa Prieto: Defending Your Honor

When you should defend your recommendations to outside professionals.

Are you recommending a reverse mortgage only to have their financial advisor or planner dismiss getting a reverse mortgage? Alissa Prieto from Longbridge Financial shares the importance of reengaging with the professional and protecting your reputation.

financial advisors referrals

Parent Company of former HECM lender converts to Chapter 7

EPISODE #818

Parent company of former HECM lender converts to Chapter 7 Bankruptcy

[Housing Wire]

A judge in the U.S. Bankruptcy Court for the District of Delaware has allowed the parent company of a former reverse mortgage lender to convert from Chapter 11 to Chapter 7 bankruptcy. Here’s why the conversion was granted by the court. Here are the details.

Other Stories:

- [San Jose Mercury News] Elderly woman murdered in scam that involved a reverse mortgage
  
  [Housing Wire] HUD’s proposed budget reveals reverse mortgage Congressional requests

HSomRSan

Kiplingers: Six questions to ask before getting a reverse mortgage

EPISODE #817

Six questions to ask before getting a reverse mortgage

[Kiplingers]

Six financial professionals from Kiplinger Advisor Collective submit questions homeowners should consider before getting a reverse mortgage. Spoiler alert- they’re actually fair-minded..

Other Stories:

- [Atlantic Black Star Journal] Yet another potentially misleading reverse mortgage foreclosure story.
  
  [National Mortgage News] Nation’s largest mortgage lender shutters mortgage origination platform.

HSomR

financial advisors media bias mortgage lending

Why I reversed my thoughts on reverse mortgages

One Canadian financial commentator recounts her journey from a reverse mortgage skeptic to one who embraced the loan as a viable…

Canada financial advisors podcast

Part 2 of our Exclusive Interview

Why is the role of home equity often ignored in retirement planning? How can reverse mortgage professionals better engage with financial advisors? Those questions are answered in part two of our exclusive interview with…

financial advisors

Interview: Why advisors are resistant to reverse mortgages

Financial advisors Matt Regan and Ryan Ponsford explain why many financial professionals are resistant to reverse mortgages and what won them over to the idea of considering home equity in retirement income planning.

financial advisors Interview

Is liquidating an IRA better than a reverse mortgage?

Should clients use home equity to fund retirement?

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EPISODE #748
Should I plan to liquidate my IRA and get a reverse mortgage?

[NewJersey-com ] One reader asks a local financial columnist if it’s better to liquidate her IRA as her own private reverse mortgage. The implications are stark…

The Three Cs of Retirment Planning

One reader asked, “I’m set to retire later this year and my portfolio is down 30 percent. What should I be doing? “

financial advisors retirement stock market

How to be a retirement lifeguard

<h2 class="p1">Without audience targeting are Google Ads Dead? Think again…</h2> Early this month Google announced new restrictions for targeting specific audiences. The restrictions apply to content related to housing, employment, credit, and those who are disproportionately affected by societal biases. The news of these restrictions created quite a stir among industry brokers and lenders who heavily rely upon targeted Google ad campaigns. All which may have you asking if these changes will kill future reverse mortgage advertising on the world’s most popular search engine. In just a moment we’ll hear from our online SEO expert Josh Johnson to find out. <a onclick="read_toggle(894596482, 'Read More', 'Read Less'); return false;" class="read-link" id="readlink894596482" style="readlink" href="#">Read More</a> <div class="read_div" id="read894596482" style="display: none;"> Google’s restrictions are not necessarily novel nor unexpected. It was just over two years ago Facebook faced scrutiny from federal regulators for allowing those offering credit or housing finance to restrict ad audiences by race or religion among other questionable metrics that would violate HUD’s fair housing rules. An investigation by ProPublica broke this news in October 2016. It was nearly two years later in August 2018 that HUD filed a formal complaint against the social media giant for discriminatory advertising practices. Seven months after HUD’s complaint Facebook announced sweeping changes. Both Facebook and later Google, took a blunt approach much to the chagrin of lenders and service providers. What ad filters are going away? In its official release Google revealed, “credit products or services can no longer be targeted to audiences based on gender, age, parental status, marital status, or ZIP code.” Is this the end of Google ads for reverse mortgages? To answer that question I reached out to Josh Johnson who heads up Reverse Focus’ Online Dominance SEO program and Google marketing. Here’s his explanation. Here’s what makes Google unique from other platforms and why reverse mortgage Google ads will continue to reach the intended audience. To summarize, older homeowners are intentionally seeking out reverse mortgage information on Google which means, yes-your ads will be seen by your target audience, even though you can no longer target specific age groups. <img loading="lazy" decoding="async" class="wp-image-21372 alignnone" src="https://apirodev.com/reverse-mortgage-news/wp-content/uploads/2020/09/In-post-pix.004-300x169.jpeg" alt="" width="691" height="389" srcset="https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.004-300x169.jpeg 300w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.004-1024x576.jpeg 1024w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.004-768x432.jpeg 768w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.004-1536x864.jpeg 1536w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.004.jpeg 1920w" sizes="(max-width: 691px) 100vw, 691px" /><img loading="lazy" decoding="async" class="alignnone wp-image-21373" src="https://apirodev.com/reverse-mortgage-news/wp-content/uploads/2020/09/In-post-pix.001-1024x576.jpeg" alt="" width="681" height="383" srcset="https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.001-1024x576.jpeg 1024w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.001-300x169.jpeg 300w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.001-768x432.jpeg 768w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.001-1536x864.jpeg 1536w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.001.jpeg 1920w" sizes="(max-width: 681px) 100vw, 681px" /> <img loading="lazy" decoding="async" class="alignright size-large wp-image-21374" src="https://apirodev.com/reverse-mortgage-news/wp-content/uploads/2020/09/In-post-pix.002-1024x576.jpeg" alt="" width="1024" height="576" srcset="https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.002-1024x576.jpeg 1024w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.002-300x169.jpeg 300w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.002-768x432.jpeg 768w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.002-1536x864.jpeg 1536w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.002.jpeg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /> <img loading="lazy" decoding="async" class="alignright size-large wp-image-21375" src="https://apirodev.com/reverse-mortgage-news/wp-content/uploads/2020/09/In-post-pix.003-1024x576.jpeg" alt="" width="1024" height="576" srcset="https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.003-1024x576.jpeg 1024w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.003-300x169.jpeg 300w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.003-768x432.jpeg 768w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.003-1536x864.jpeg 1536w, https://www.hecmworld.com/wp-content/uploads/2020/09/In-post-pix.003.jpeg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /> </div>

How to be a retirement lifeguard (and recruit others)

There are millions of older Americans swimming in the pool of retirement. The question is who’s looking after those retirees showing signs of distress or in danger of drowning financially? The best lifeguards are proactive looking for the slightest hint of any problem that could become a life-threatening situation. It takes a sharp-eyed financial advisor to catch a problem before it becomes a crisis, especially when you have hundreds of clients swimming. Some are in the deep end taking the biggest risks, some are in the shallows and prefer to play it safe, while others are quite comfortable regardless lounging along the sides.

Let’s be honest. None of us have the wherewithal to protect every retiree in our city, much less those who live on our block. First, you don’t have the time, and second, you don’t have direct access to that pool of retirees because you’re not privy to their financial status. You’re a reverse mortgage professional; not a financial advisor or accountant.

What we’re talking about is not some new scheme that will somehow boost our personal or collective loan volume to new heights. We’re talking about becoming a relevant part of the retirement conversation and helping real people with real needs that may determine the quality of their life, health, and relationships.

One of those needs is being prompted by the big squeeze, otherwise known as inflation. A mere 10% increase in the cost of living can reduce a portfolio’s longevity for retirees drawing fixed-income investments or savings. That’s a 50% reduction or half as many years that their money will last. Any competent financial advisor knows this and will make excess withdrawals due to inflation a key part of their annual review with clients.

As a financial lifeguard, it’s never fun to tell someone that they’re drowning but they just don’t know it. Yet that’s exactly what many advisors will face in that difficult conversation. Will they tell them they need to reduce their expenses or standard of living? Perhaps, but who really wants that? Will their advisor suggest that they increase their investment returns by taking more risks? Not likely if they have a conscience and any common sense. Will they tell them to go back to work part-time or find ways to generate more monthly income? Perhaps, when it makes sense and their client’s health allows for a return to work.

The more likely strategy financial professional may suggest are to increase allocations of energy, materials, and financial stocks while reducing exposure to retail and consumer service sectors. But even if that works will that strategy generate enough earnings to offset inflation. Likely not. That generally leaves one choice, assets. The question is whether to sell an asset outright or slowly dissipate the accumulated equity. To suggest a retiree sell their home, downsize or rent and invest the proceeds is a bitter pill to swallow. After all, who wants to get rid of the home they worked so hard and diligently to pay down or pay off completely? The home where they feel safe and surrounded by memories.

The more palatable solution advisors can present is an asset dissipation plan. One that avoids selling stocks when their share prices are down as a realized loss. A solution that takes some of the winnings off the table while finding more financial assets to extend or preserve sustainable withdrawals. A typical asset dissipation strategy, often called asset depletion, takes a fixed withdrawal from an account to boost income. But what happens when that asset’s value has been drained? It’s gone. However, a reverse mortgage provides the ability to tap into the value of an asset that typically appreciates and outperforms the market without relinquishing ownership or encumbering other assets as security. Now that’s one strategy that could substantially boost any financial professional’s skillset as a retirement lifeguard. Not only could they prevent their client from drowning, but they could actually give them the means to swim with confidence, or even relax along the sides knowing the lead weight of inflation won’t sink them after all.

financial advisors inflation retirement

Even Australians face reverse mortgage reluctance

Unable to use the embedded player? Listen here.

EPISODE #680
Data shows advisers in Australia reluctant to discuss equity release strategies

“New research has found that financial advisers are not considering the government’s Pension Loan Scheme (PLS) when developing strategies for retirees.”

Alissa Prieto: Defending Your Honor

When you should defend your recommendations to outside professionals.

Parent Company of former HECM lender converts to Chapter 7

EPISODE #818

Parent company of former HECM lender converts to Chapter 7 Bankruptcy

Kiplingers: Six questions to ask before getting a reverse mortgage

EPISODE #817

Six questions to ask before getting a reverse mortgage

Why I reversed my thoughts on reverse mortgages

Part 2 of our Exclusive Interview

Interview: Why advisors are resistant to reverse mortgages

Is liquidating an IRA better than a reverse mortgage?

EPISODE #748
Should I plan to liquidate my IRA and get a reverse mortgage?

The Three Cs of Retirment Planning

How to be a retirement lifeguard

How to be a retirement lifeguard (and recruit others)

Even Australians face reverse mortgage reluctance

EPISODE #680
Data shows advisers in Australia reluctant to discuss equity release strategies

Other Stories:

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When you should defend your recommendations to outside professionals.

EPISODE #818

Parent company of former HECM lender converts to Chapter 7 Bankruptcy

EPISODE #817

Six questions to ask before getting a reverse mortgage

EPISODE #748 Should I plan to liquidate my IRA and get a reverse mortgage?

How to be a retirement lifeguard (and recruit others)

EPISODE #680 Data shows advisers in Australia reluctant to discuss equity release strategies

Other Stories:

Sign up for our newsletters

About

Company

Connect

Follow Us

Subscribe to join our World

EPISODE #748
Should I plan to liquidate my IRA and get a reverse mortgage?

EPISODE #680
Data shows advisers in Australia reluctant to discuss equity release strategies