Giving support to surviving spouses

By Travis D. Manning, CFP, CLU

Meagan S. Balaneski, CFP, RFP, has targeted a clientele that requires her to focus on compassion more than numbers. “We are very much focused on portfolio creation and management for people who are going to or who have recently lost a spouse or partner,” she said. “We help coach them through the process and upheaval of losing someone. We try to be as compassionate as possible with our clients.”

Balaneski has a nine-step process she shows prospects so they can see how in-depth the discussion will be, and what work will be involved on both ends to accomplish their goals. “We make sure they are ready to engage in our process, and that we are not wasting each other’s time and energy,” said the five-year MDRT member from Vermilion, Alberta, Canada. “They have to want to be a part of our system to really get all of the benefits we can offer.”

When working with surviving spouses, Balaneski helps them visualize the future and actually feel how it will work, instead of just seeing numbers. “They need to feel they will be OK, and that we will be there to help in any way we can,” she said. “We have to foster an incredible amount of trust from our clients, and we repay that trust with clearly thought-out plans that take all aspects of their lives into account and a pledge to take care of them for the long term.”

Balaneski helps the surviving spouse see what is involved with retirement. She goes over every detail several times to make sure they actually understand what she’s recommending, because she has found it’s too easy to make a mistake or forget details in times of stress.

“We have to be extremely compassionate in dealing with surviving spouses,” she said. “It’s a hard time both emotionally and mentally, so we have to be very patient with everything.”

Read more about finding your target market in the November-December issue of Round the Table.