Kerry Morris, CFP® Founder of HonorShield, Interviewed on the Influential Entrepreneurs Podcast Discussing Should Widows Fire Their Husband’s Financial Advisor?

Kerry Morris discusses whether widows should fire their husband’s financial advisors.

Listen to the interview on the Business Innovators Radio Network:

Kerry Morris delves into the concept of retirement, highlighting its relatively new nature. He emphasizes that retirement requires individuals to bring their “basket” of resources and figure out how to make it work. Recognizing the complexity of retirement, Kerry suggests that it deserves its own dedicated episode.

Kerry Morris acknowledges that retirement can be overwhelming for some individuals. To alleviate this overwhelm, he stresses the importance of aligning everyone’s understanding and clarifying communication styles. He proposes that tackling one aspect of retirement at a time can help build confidence and provide a sense of direction.

Furthermore, Kerry draws attention to the alarming statistic that 70% of widows fire their husbands Financial Advisor. This statistic underscores the lack of relationship and understanding between the advisor and the new widow. This causes Kerry to call for the industry to wake up and realize the differences in priorities of men versus women clients. He specifically highlights the need for more women to become financial advisors, suggesting a potential gender disparity in retirement planning and support. Mike and Kerry assert that the industry must recognize that women are on their way to controlling a substantial portion of the country’s wealth, estimated at 30 plus trillion dollars. Failing to acknowledge this need may result in the loss of clients. The episode highlights the positive impact of mutual respect and understanding between advisors and clients, particularly when serving female clients. Mike and Kerry share a personal example of celebrating retirement with widow clients, emphasizing the importance of making clients feel comfortable and meeting their needs.


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