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Books

About Bob Mauterstock

Coaching families and their financial advisors to learn the skills necessary to live fruitful lives

34 years ago I started my career in the financial services industry. I set up my first registered investment advisory firm in 1982 (Financial Action Plans,Inc.) and began doing financial planning for my clients.

Books by Bob Mauterstock

Coaching financial advisers to learn the skills to advise their clients

Can We Talk? is a comprehensive, practical guide that guides baby boomers through the process of helping their elderly parents get their financial lives in order. Talking to your aging parents about all the financial issues that affect them is often very risky and difficult to do. Can We Talk? gives adult children a practical and empathetic approach to working with their parents to discuss and plan for all the financial decisions they will face.

The book lays out the steps to prepare and hold a family meeting to open up the lines of communication. It addresses critical areas such as proper investment strategy, legal issues that can impact the family, creating a plan to deal with the devastating costs of long-term care, and passing on a legacy to the next generation. Bob calls on his 30 years of experience as a financial advisor to share real-life situations he and his clients have faced and how they developed practical solutions to solve them.

Can We Talk? will give you the tools you need to put your aging parents at ease and give you the peace of mind to know that they are taken care of.

Passing the Torch is a comprehensive, practical guide that leads you through the process of getting your financial life in order and communicating your wishes, desires, and concerns to your adult children. It will give you the tools to develop a strong partnership with your children to make the critical decisions that will dramatically affect your life and their’s as you get older.

Talking to your adult children about all the issues that you will face as you age is often very difficult to do. Passing the Torch by Bob Mauterstock gives parents a practical and empathetic approach to work with their children to discuss and plan all the decisions they will have to make. The book lays out the steps to prepare and hold a family meeting to open up the lines of communication. It addresses such critical areas as legal issues that can impact the family, end of life planning, health care planning and passing on a legacy to the next generation.

In the book, Bob calls on over 30 years of experience as a financial advisor to share real-life situations his clients have faced and how they developed practical solutions to deal with them. Passing the Torch will give readers the tools to communicate in a meaningful way with their adult children. They will experience peace of mind knowing that they have created and communicated their plan to their family.

You, as a financial advisor, are about to enter the perfect storm. Several factors are lining up to make the next ten years the most challenging years that you will ever face in your practice.

Consider these facts:

  • Your clients are living longer than their parents. The fastest-growing age group is the very old, those people over 85.
  • The Alzheimer’s Association has predicted that 46% of people over age 85 will develop some form of dementia. It is expected that 10 million baby boomers will develop Alzheimer’s. Unless we find a treatment or a cure, Alzheimer’s will become the defining disease of the baby boomer Generation.

In 2009 Fidelity surveyed 350 advisors. More than 84% indicated that they had been touched by someone in their client base who suffers from Alzheimer’s Disease. Despite their experience with the disease, more than 96% of the advisors did not feel that they were prepared to assist clients with Alzheimer’s. And things have not changed since that survey. Very few firms have stepped forward with specific guidelines for their advisors to deal with diminished capacity.

You may have already had to deal with a client with diminished capacity. But most likely you do not have a standard protocol to deal with this client. As a result, you play it by ear. This is like holding a ticking time bomb. Sooner or later it is going to go off, and a client or client’s family will go after you for handling their account improperly.

Based on my experience of over thirty-three years as a financial advisor, I will give you the seven steps that you can take to minimize the risk to you and your practice and take the appropriate actions to serve your clients with diminished capacity