In this episode, Jack talks with Paul Deer, Vice President of Advisory Service at Personal Capital.
Paul oversees a team of more than 60 financial advisors and their clients at Personal Capital, the first advisory firm of any scale to conduct their business online. In addition, Paul is passionate about hybridizing wealth technology with human interaction so you can provide holistic and personalized advice at the same time.
Paul and Jack discuss the reinvention of retirement planning, the importance of advisor specialization, and the confluence of human and digital advice.
“We have found that you can’t just do it with tech. You need to have humans to have a real conversation with where you can perceive emotions and kind of dig deeper than just the surface of what someone’s telling you. So that combination is what’s going to help people make the best possible financial decisions over and over again, throughout their lifetime. Which is going to help them with the best possible outcome.” ~ Paul Deer
Main takeaways
- Think about the client’s long-term goals so you can properly align your advice for their retirement planning.
- While emerging technologies are a great propeller in financial innovations, humans’ role should not be discounted. The right combination of human touch and wealth technology drives the best financial decisions.
- The four major levers you can consider to ensure there’s money through retirement are: increasing your savings, delaying your retirement, decreasing your retirement spending, or increasing your risk.
Links
- Paul Deer on LinkedIn
- Personal Capital
- Medicare
- Personalization, Scaling Efficiently and Serving the Underserved with Ed Murphy
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