Sun Life research reveals clients want integrated health and wealth advice
That finding speaks directly to the opportunity advisors have to differentiate their practice. When clients struggle to connect the dots between their health costs, their savings, and their protection needs, a professional who can do that connecting becomes far more valuable than one who manages investments alone.
The legacy planning data reinforces the point. Fifty-nine per cent of respondents said leaving a secure financial future for their family is very important. However, only 37 per cent have designated account or insurance beneficiaries, 26 per cent have drafted a will, and just 24 per cent have met with a financial advisor.
That last number – fewer than one in four respondents having met with an advisor – is a significant opportunity. As this year’s Wealth Professional Award winners demonstrated, holistic advisors who bring estate planning, tax strategy, retirement income, and health planning into a single conversation are the ones clients are seeking out.
What this means for advisors
Kevin Strain, President and Chief Executive Officer of Sun Life, said the findings point to a clear client need: “Helping people close the gap between intention and action is at the heart of our Purpose of helping Clients build lifetime financial security and lead healthier lives.”
Chris Hewitt, Senior Vice-President and Global Chief Client Experience and Marketing Officer at Sun Life, added: “People know what matters to them. We make it easier for them to act. By bringing more of Sunlife together around each Client, we can help connect the different parts of their lives and give them greater clarity and confidence to move forward.”
