Work with Care Managers
Because of the complexity of healthcare, planners either need to have expert knowledge or work with people who do. --Martin Siesta
Welcome to the new world of financial advice, where planners aren't just tending to clients' portfolios and income distribution models anymore, they're also looking out for their health—or at least making sure that someone is..."As a financial planner, you're usually a generalist," Martin Siesta says. "Because of the complexity of healthcare, planners either need to have expert knowledge or work with people who do." In the past, he says, his clients would ask him to intercede on their behalf with insurance companies or Medicare. Care managers know how to advocate for coverage more effectively, says Siesta, because they often come from the medical field. In addition, Rufo explains, care managers who work regularly with certain agencies or long-term-care facilities may be able to negotiate better prices than consumers might be able to find on their own.
-Martin Siesta of Compass Wealth Management in Maplewood, N.J., in Aging Matters
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