What skills do advisors need to meet changing retirement needs

In a limited way, around questions of retirement, advisors have become a bit like librarians. Not because of the record keeping needs mandated by CFRs, but because they are doing far more than they initially thought they might. Librarians, trained record keepers, have become mental health practitioners and shelter providers amid the ongoing crises of homelessness in Canada. Advisors, for their part, are now reckoning with their clients’ needs beyond just monthly cashflow and investment returns. Retired and retiring Canadians are facing crises of confidence, social connection, and health. The recent Ageing in Canada Survey from the National Institute on Ageing (NIA) exposes those crises acutely. For advisors left to handle those crises for their clients, the expertise that comes with a CFA seems too narrow to meet this moment.