This increasing client risk will change advisor practices. Here’s why

When asked what's the biggest impact on their practice, advisors didn't point to artificial intelligence, robos or even climate change. Instead, they're fixated on longevity risk. Clients' ever-increasing lifespans are challenging assumptions about spending rates, savings and more, say advisors, who singled out longevity in a survey released last month by Schwab Advisor Services. In the survey, 29% of participating advisors identified longevity as the leading macro trend that is shaping their firms. Within that group, 44% of advisors...