Amid the emotional turmoil that often accompanies divorce, advisors have an opportunity to secure their clients’ financial futures.
Providing sound financial advice, while no cure for a broken heart, can help alleviate some of the burdens of divorce, especially if clients have little experience with financial planning, says Marilyn Timbers, a retirement coach at Voya Financial Advisors.
“It’s important for a person who has recently gone through divorce to sit down with an an advisor and draw up a plan for their individual goals,” says Timbers. “If you’re working with a client that has been less dominant in the financial side of the relationship, it first becomes a matter of taking a step back and educating them about all aspects of financial planning.
Timbers offers five tips for advisors helping divorced clients to address their retirement savings.