Since its inception, the Social Security program has been a cornerstone of retirement planning. Though most people think of social security as a retirement program, it is much more than that. There are many ways to maximize Social Security benefits people don't realize. In this episode, Jack talks with Alyson Dorosky, Marketing Manager and Head of Social Security Support at LifeYield. Also joining them is Jeff Quigley, Vice President of Enterprise Sales and Relationships at LifeYield.  In her role, Alyson is a key member of the Marketing and Advisor Success Teams at LifeYield. She's been supporting advisors using Social Security Advantage, which makes her an important Social Security author to watch. She writes monthly about Social Security secrets, niche cases, and lessons learned supporting clients in the digital era. Jeff is responsible for working with existing clients to increase advisor adoption and effectiveness and identifying opportunities to expand relationships that bring added value to customers. In addition, Jeff engages with prospective clients to drive new revenue to the firm. Alyson and Jeff talk with Jack about how they help advisors navigate social security, how LifeYield and Franklin Templeton work together to bridge the gap between planning and implementation, and how LifeYield Social Security+ improves retirement income outcomes for advisors and clients. Key Takeaways [01:13] - A partnership between LifeYield and Franklin Templeton. [04:21] - How the Goals Optimization Engine bridges the gap between planning and implementation. [06:37] - How LifeYield Social Security+ enhances retirement income outcomes for advisors and clients. [08:49] - An update on the Cost of Living Adjustment (CoLA). [11:43] - How Alyson helps advisors with Social Security. [14:43] - What financial services providers think of LifeYield's Social Security tool. [18:41] - Alyson's approach to helping advisors navigate social security. [21:39] - A look at where social security is heading. [23:58] - Alyson and Jeff's key takeaways. [26:51] - The things Alyson and Jeff enjoy outside of work. Quotes [02:40]- "It's great to have a plan. And it's great to have that dialogue with clients, but it's difficult to implement that advice in many cases." ~ Jeff Quigley [13:00] - "Many people find a lot of misconceptions and a great deal of confusion around survivor benefits and divorced benefits. Using a tool like LifeYield is always super impactful." ~ Alyson Dorosky [26:27] - "Leverage Social security as a springboard to whatever kind of conversation or path you want with prospects or clients. Whether that's leveraging a high-level conversation about retirement income, using income layers, or whether you're diving into a full financial plan."~ Jeff Quigley Links  Jeff Quigley on LinkedIn Alyson Dorosky on LinkedIn Alyson Dorosky Goals Optimization Engine (GOE®) | Franklin Templeton New York Life Insurance Merrill Lynch Personal Capital Allianz Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

In this episode, Jack talks with Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions. Daniel is a psychologist and a behavioral finance expert who helps advisors and investors understand the psychology of financial markets. He believes that through tools, such as the Irrationality Index and the new 3D Risk Profile from Orion, we'll be able to assess emotional reactions to volatility. Daniel and Jack discuss the benefits of risk management tools, the role of human behavior and psychology in investing, and the future of behavioral finance. "We need to educate clients and advisors about the realities of behavioral finance. We need the right environment, the right portfolio mix for them, but we also need that encouragement that's happening just in time to educate people when they're on the precipice of making a decision.” ~ Daniel Crosby Main takeaways  Leverage the three ‘T’s to ensure clients implement the best advice: training, tools, and technology. Look at risk from a variety of angles so portfolio management and asset allocation are consistent throughout. A risk tolerance questionnaire can give you insights into an individual’s human behavior and psychology. The biggest value an advisor can provide is behavioral coaching, emotional management, and decisional coaching. Teaching people about achieving high returns is just secondary. Precommitment in investing is a vital part that measuring risk composure fulfills. It makes sure investors are aligned with their set preferences, and it prevents future deviations. The future of behavioral finance is embedded in the three ‘E’s: education, environment, and encouragement. Links Daniel Crosby on LinkedIn Daniel Crosby on Twitter Brinker Capital Eric Clarke HiddenLevers Alexandria McCarthy Personal Benchmark: Integrating Behavioral Finance and Investment Management by Charles Widger Warren Buffet Dalbar Morningstar Michael Lee Daniel Kahneman Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

In this episode, Jack Sharry talks with Eric Clarke, CEO of Orion Advisors. Eric is committed to improving client outcomes through strategic acquisitions and smart technology. Straight out of grad school, Eric began his career as an asset management wholesaler. The company he worked for was experiencing operational challenges and, eventually, Eric realized the fiduciary IRA business needed stronger technology. At the time, available tech was only built for the brokerage business rather than advisory firms. Seeing an opportunity from necessity, Eric developed a business plan and founded Orion.  As Eric puts it, what’s current today is incredibly dated tomorrow. Orion provides technology services to advisory firms while keeping a pulse on what’s current and pivoting as needed.   Jack and Eric discuss the art of acquisition, how to instill proactivity in advisors, and why behavioral psychology is the backbone of strong and effective advising. “What’s fascinating to me is that our industry is dominated by finance and accounting degrees, myself included. And as we look forward, I think we’re going to see a lot more emphasis inside of the industry on having degrees potentially dominated around behavioral psychology. And hopefully, we get to a point where we’re really understanding the investors that we’re serving in ways that we can drive and create value back in very meaningful ways.” ~ Eric Clarke Main takeaways  When buying technology, advisors must make sure that technology is solving one of two problems: Is it creating a better client experience or driving internal operational efficiencies?  When combining businesses, you have to take a step back and look at the best ways to integrate offerings so you’re never operating in silos.  Knowing the overall composure of an investor is incredibly important in driving client value. And there’s more to it than simple risk-tolerance. Understanding an investor’s behavioral psychology also helps advisors to proactively solve problems by preventing potential stressors.  It’s better to disrupt your own entity than let other businesses disrupt you first. There are four key areas that advisors should be looking at when it comes to improving value propositions: prospecting, planning, investing, and outcomes. Links Eric on Linkedin Orion Advisor Services Orion Portfolio Solutions CLS Investments Brinker Capital Investments Money Management Institute EY Modern Wealth Black Rock Morgan Stanley The Pace of Boomer Retirements Has Accelerated in the Past Year The Peak 65 Generation: Creating A New Retirement Security Framework Tax Alpha HiddenLevers Teammates Connect with our hosts LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter Subscribe and stay in touch Apple Podcasts Spotify LinkedIn Twitter Facebook

WealthTech on Deck is a new podcast from LifeYield about the future of wealth management technology.  We created this podcast specifically for wealthtech innovators, financial services executives, fintech product leaders, and financial advisors who want to stay ahead of the wealthtech game.  Join us each week as our CMO, and host of the show, Jack Sharry, talks with industry leaders looking to build the wealthtech platforms of the future. We promise to keep it short, sweet, and valuable. Our first episode drops in March 2021. Subscribe now, wherever you listen to podcasts.   Links  LifeYield Jack Sharry on LinkedIn Jack Sharry on Twitter