When it comes to retirement planning, how your clients build and protect their retirement income is one of the most important choices they will make. While investing for retirement may be a complex process, it doesn't have to be overwhelming. What retirement planning strategies can people use to help them achieve a fulfilling retirement?
In this episode, DPL Consultant Scott Spurlock talks with Hobby Barndollar, Investment Advisor and CEO at PurePath Wealth Management. Hobby specializes in tax planning, income planning, Social Security planning, and IRA/401(k) distribution. He focuses on providing diversified strategies and holistic financial planning through simple and easy-to-understand methods.
Hobby talks with Scott about how he builds retirement portfolios using Registered Index-Linked Annuities (RILAs) and other commission-free solutions, the advantages of using these strategies in the RIA channel, and how these strategies can help firms keep clients invested, mitigate sequence of return risk, and provide guaranteed income.
Key Takeaways
[01:20] - An overview of Hobby's professional and personal background.
[02:24] - The type of annuity Hobby deems the most beneficial.
[05:08] - Why Hobby transitioned from a broker/dealer to a fee-only advisor.
[09:22] - How RILAs and fixed-indexed annuities fit into client portfolios.
[13:00] - How Hobby implements commission-free annuities for clients.
[15:58] - What prevents advisors from adopting a commission-free annuity model.
[17:57] - How Hobby served his clients before partnering with DPL.
[21:35] - How Hobby educates clients about annuities.
[24:23] - Hobby's strategy for keeping clients invested in today's volatile market.
[29:51] - A real-life example of how Hobby implements commission-free annuities.
[35:01] - Why advisors should consider commission-free annuities.
