Provide a Home Safety Guide for Older Clients

09.29.23 08:00 AM Comment(s) By Amy

Part of the value you offer to clients is a sense of security. If a client knows their money is in good hands, they feel financially safe. But this kind of security is something that hundreds of thousands of other financial advisors can provide. What if you set yourself apart by also providing your clients with a greater sense of physical safety?

Consider that more than one out of four Americans age 65+ report falling each year, and 60% of falls happen in the home. If you have aging clients or clients with aging parents, show your willingness to go above and beyond to ensure their well-being by sharing with them this comprehensive guide from the National Council on Aging about Home Safety.

This guide goes step-by-step through the entire house, highlighting risk areas and what to do to minimize the risk of falls. It also provides a condensed, one-page summary checklist, and a more complete eight-page checklist.

Older clients may be resistant to discussing these types of concerns. After all, no one likes to face the possibility of diminishing physical capabilities. I suggest you begin the discussion early, when clients are in their 50’s.  You can frame it in the same terms as having accident prevention features on a car. Tell clients that just like having a car with a blind-spot warning system and auto-braking, these precautions are easy, sensible ways to reduce the risk of injury to yourself and others. You can also highlight the possible financial benefit by sharing that each year approximately $50 billion is spent on medical costs related to older adult falls. It’s worth it to spend a little bit now to potentially save a lot later.

Just as with your financial advice, encourage clients to make the wisest decisions for the long term and have the greatest control possible, so they can continue to live the life they want long into the future. When you provide them with this resource, you help make that a reality.

This kind of considerate, holistic advising creates deep trust, life-long loyalty, and plenty of referrals!


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