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.

Kerry shared: “We deal with the high cost of aging and so you got a whole population that doesn’t even know the type of solutions that we have in our area of work with HonorShield. The burden on the ladies, this whole topic of men versus women and two different experiences is even heavier, overweighted, because the ladies in our country are by far more the caregivers than the men.”



About Kerry Morris

Kerry Morris, Author of When Retirement Goes Bad, Life Sucks and Financial Survival for Families in the Grip of Dementia, Certified Financial Educator®, and CERTIFIED FINANCIAL PLANNER™ professional.

Kerry Morris has been serving families for the past twenty-six years as a financial planner and advisor.  He has recently launched HonorShield, LLC., as a way to challenge the current thinking and behavior of consumers and financial advisors preparing for the potential high cost of aging.

He has spent several of his twenty-six-year career advising hundreds of families experiencing the nightmare of paying for care. The question, always, was “how to make the money last”? 

Morris has watched too many families, too many men and women not be fully prepared for retirement. The financial industry has put this cost-of-care issue on total “ignore” mode, often shoving it onto a small but valiant band of “insurance specialists” around the country.  Only about 10 in 100 Americans embrace this model. That is a problem for American families and our country.

Morris found a better way, a win-win solution that more Americans could feel good about embracing.   It’s a whole new way to approach and solve this problem: the LCAP—the Longevity Care Allocation Plan. Every person, every family deserves to know how an LCAP works.  Kerry Morris has made it his life’s goal to ensure that those he helps can hold their head high and know that no matter what curve balls retirement throws at them, they will be prepared.

“One of the most important things I’ve learned in my 26 years in the business is that a great life is supported by three areas, Health, Relationships, and Money. My job is to make sure that a family’s money is working effectively to accomplish that job.”

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