A study by the Alliance for Lifetime Income found that while 62% of financial advisors believe they discuss financial protection with clients, only 27% of clients report having those conversations.

According to a study from the Alliance for Lifetime Income, 70% of financial advisors claim to discuss how clients will spend their time in retirement, but only 29% of clients report having these conversations.

The financial advisory profession is evolving from a focus on building portfolios to a more holistic approach of helping clients accomplish their financial goals.