It’s that time of year again.
If you’re not skiing or beach lounging you have time during this holiday week to
ponder meaningful concepts and people you wouldn’t otherwise think about. And
maybe consider how they guide you in the new year.

Time Magazine has their person of the year. For 2022, President Zelensky. ‘Nuff
said right there.

The Oxford Dictionary team selected their word – actually words – as “goblin
mode” – referring to the pandemic spawn of people “indulging their laziest and
most selfish habits”. If this is a new one for you, you’re not alone. And that’s
probably good.

The Economist took the safer, high impact route with “hybrid work”, which will
forever change the workplace. This story will play out in the months and years
ahead and employers of all sizes face some tough choices.
At Next Chapter, we’re going with “protection”.

We wanted a single watchword that would provoke reaction to conditions we
think are different and persistent for the new year and beyond. Our observations
of the past year include the reaction by advisors and advisory firms to inflation, to
market volatility and to a growing awareness of how poorly most retirees have
planned for retirement.

“Protection” also makes universal the application of planning and it benefits – a
“not just for retirees” perspective inclusive of younger people.

Protection is the antidote for “fear” – still the most reliable driver of human action.
Anyone or anything that can remove fear, restore calm and establish a forward
path has a killer value proposition – especially given the backdrop of uncertainty
looming so large in the world today.

Protection sets our True North for 2023. Watch for more as we use “protection” of
our clients as the objective for specific efforts across Next Chapter:

  • Financial wellness
  • Protected income
  • Liquidity and security

Spoils Will Go to the Protectors

Winners in the delivery of protection will be rewarded first with retention of clients
many advisors don’t realize are already looking elsewhere. In addition, Protectors
will more likely consolidate assets now held by other custodians who don’t
appear to care as much.

Yes, The Cheese Moved – Sorry

Importantly, the victims in this asset shift will be surprised. “We did what what we
were supposed to do”, is the current refrain from mostly investment types. But
that was then.

A more insidious version, “No one was asking for it” is just operational tone
deafness. If we really have to wait for people to burn their retirement home
before calling the fire department we might as well change industries. We know
what retirees need before they do. That’s our job – and our value.
More to follow – so make sure you are following Next Chapter!