Helping Wealthy Clients Organize Finances In Late Middle Age



Professional organizers can’t keep up with demand, judging from news articles about people downsizing their homes, emptying cluttered attics and basements, and discarding what no longer sparks joy.


Your wealthy clients in late middle age—roughly those in their mid-to-late 50s to their mid-60s—have messy financial closets, too. Their accounts are scattered across multiple advisors who won (some of) their business in years past.


Their financial challenges differ from those of their friends who have crossed the retirement threshold or reached an advanced age and are concerned about wealth transfer. But trust me: They will be open to a meeting for a gut check if you say you can explain their opportunities for minimizing taxes and optimizing income and legacies to their children.


A Picture Of A Couple In Late Middle Age

Look at your client list. Do any of these people look familiar?


• They are at the pinnacle of successful and lucrative careers.


• Their 401(k) plans include significant holdings through employee stock option plans (ESOPs).


• They have stock options that make them heavily concentrated in one company.  


• They own businesses that they intend to sell in five to 10 years.


While well-off clients earn income and receive bonuses, they’ve had limited ability to minimize taxes. But as they look to the future, managing their holdings in a coordinated way becomes paramount to limit their tax liability.


The finance of retirement income is new terrain. Be their guide.



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