Many older Americans worry about money, whether they have $3 million or $30 million. Even with a solid financial plan or plenty of money, some may have concerns about paying unnecessary taxes or transferring wealth, especially after retirement. Retirees spend more money than expected on expenses such as health care, taxes, and travel, and their top concern is that the increasing cost of living will make it harder to save money.1
But worrying about finances isn’t a foregone conclusion. The right financial advisor can help make a world of difference. Americans who work with an advisor are much more confident about their financial future.2 But the relationship can do more than just boost individual confidence; it can help bring Economic Freedom™ to the entire family. Imagine the reassurance you and your parents could feel, knowing your family has a plan for wealth transfer and financial stability.
How an advisor can help your family
Caring for aging parents, or preparing to do so, can bring unique financial challenges. As they approach or enjoy retirement, decisions about taxes, insurance, and investments become more critical to their long-term security.
In 1882, J.D. Rockefeller understood the value of a cohesive team working to protect and grow family wealth, establishing the first full-service single-family office in the U.S.3 Today, while most Americans can’t afford their own family office, the need for integrated financial services is growing.4
At Mercer Advisors, we bring the family office experience to you. For nearly 40 years, we’ve been helping families amplify and simplify their financial lives. How? By integrating financial planning, investment management, tax, estate, insurance, and more, all managed by a single team. Because finances work better when they work together.
How you can help your parents
Do you have a parent or older relative you’d like to see enjoy life more and worry less about money? Encouraging them to explore a relationship with a financial advisor, or switch to an advisor who better meets their needs, could make a significant difference. This could help them:
- Feel financially confident and secure in their retirement years
- Avoid falling victim to fraud
- Gain confidence knowing their family will be financially okay when they pass
- Get fiduciary advice that’s in their best interest (if they have their money with a bank or brokerage)
- Preserve their wealth and legacy with a family office approach
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Give your parents the gift of Economic Freedom™
Mercer Advisors exists for one reason — so that our clients don’t have to worry about money. Our founder, Kendrick Mercer, called this “Economic Freedom™.” We empower our clients to make informed decisions and help achieve their dreams without financial stress.
We’d be happy to discuss how our family office approach could benefit your parents. If you think we might be a good fit or want your parents to learn more, you can introduce them to us. We’ll provide them with a comprehensive financial plan, with no obligation to proceed. If you’re a Mercer Advisors client, ask your wealth advisor about our referral service.
If you’re not a Mercer Advisors client and are interested in giving your parents the gift of Economic Freedom™, let’s talk.
- “2023 Retirement Confidence Survey,” Employee Benefit Research Institute, 2023.
- “Why hire a financial advisor,” Fidelity, 23, 2024.
- “The History of the Family Office,” Private Wealth & Family Office Association, 2024.
- “Deloitte Private’s latest report in its Family Office Insights Series,” Deloitte, Sep. 4, 2024.
- Mercer Advisors analysis of Federal Reserve’s 2023 Survey of Consumer Finances.
- “Will & Estate Planning,” Planned Giving, 2024.
- “Are You Rich? U.S. Net Worth Percentiles Can Provide Answers,” Kiplinger, Aug. 21, 2024.
