When entering the site and if cookies are prevented from being saved, a message must be displayed
in a popup message box informing the user that their local browser settings are preventing
cookies from being saved and that cookies are required for the site to work. Exact text
to be provided for UAT. On OK click of the message, the user should be redirected to
the global landing page (currently ssga.com).
Most people will, at some point in their lives, experience some degree of cognitive decline—the diminishing ability of the brain to perform tasks related to memory, decision-making, or thought-processing—whether it is triggered by a health event or simply the natural process of ageing. Any degree of cognitive impairment has the potential to impact financial decision-making.
Broaching the topic of ageing can be difficult for investors and advisers alike. But health and financial wellness are intertwined – so addressing the risks early and building a plan before its needed can help empower everyone, simply by planning ahead.
Investors with a plan in place should their decision-making abilities become diminished 1
Investors who say they have talked with their family about possible cognitive decline 1
Investors who have spoken with their financial adviser about ageing 1
This research report takes a comprehensive look at the connection between money mistakes and cognitive decline, and provides a set of proactive measures that advisers can use to help protect their clients. And with more than 60% of clients still in need of a plan, it’s time to start the conversation.
Conversations around ageing typically focus on retirement income planning and investment risk, but don’t include a plan to manage the financial risks associated with a decline in cognitive health. Ideally, financial goals, personal preferences and estate plans should be prepared and shared long before cognitive decline impacts financial decision-making.
To help you foster an open and respectful dialogue, we created a set of hypothetical conversations to encourage clients to engage in the planning process.
A comprehensive checklist of financial and legal items is a critical tool to help protect and prepare clients for the risks associated with cognitive decline. Make sure you consider:
Goal Setting in the context of their personal situation
Estate Planning including asset transfer and gifting strategies
Budgeting to properly manage cash flow
Tax Planning for when social welfare benefits or superannuation payments are received
Insurance Planning including long-term care or life insurance
Health Care Planning such as special assistance beyond what insurance might cover
Contingency Planning for long-term care or end-of-life planning
Managing Wealth Transfers Across Generations
When creating an action plan with your client, don’t forget to reserve time to discuss wealth transfer plans with the whole family. Advisers can help to both structure the plan and begin building a relationship with the next generation.
Issued by State Street Global Advisors, Australia Services Limited (AFSL Number 274900, ABN 16 108 671 441) ("SSGA, ASL" or "State Street Global Advisors, ASL"). Registered office: Level 14, 420 George Street, Sydney, NSW 2000, Australia · Telephone: 612 9240-7600 · Web: www.ssga.com.
State Street Global Advisors, ASL is the issuer of interests and the Responsible Entity for the ETFs which are Australian registered managed investment schemes quoted on the AQUA market of the ASX or listed on the ASX. This material is general information only and does not take into account your individual objectives, financial situation or needs and you should consider whether it is appropriate for you. You should seek professional advice and consider the product disclosure document, available at www.ssga.com/au, before deciding whether to acquire or continue to hold units in an ETF. This material should not be considered a solicitation to buy or sell a security. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value. ETFs typically invest by sampling an index, holding a range of securities that, in the aggregate, approximates the full index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index. Investing involves risk including the risk of loss of principal. Diversification does not ensure a profit or guarantee against loss. Holdings and sectors shown are as of the date indicated and are subject to change. This information should not be considered a recommendation to invest in a particular sector or to buy or sell any security shown. It is not known whether the sectors or securities shown will be profitable in the future. Sector ETF products are also subject to sector risk and non-diversification risk, which generally results in greater price fluctuations than the overall market. SPDR and Standard & Poor's® S&P® indices are trademarks of Standard & Poor's Financial Services LLC and have been licensed for use by State Street Corporation. The Dow Jones Global Select Real Estate Securities Index is a product of S&P Dow Jones Indices LLC and has been licensed for use by State Street Global Advisors, ASL. MSCI indices, the property of MSCI, Inc. ("MSCI"), and ASX®, a registered trademark of ASX Operations Pty Limited, have been licensed for use by State Street Global Advisors, ASL. SPDR products are not sponsored, endorsed, sold or promoted by any of these entities and none of these entities bear any liability with respect to the ETFs or make any representation, warranty or condition regarding the advisability of buying, selling or holding units in the ETFs issued by State Street Global Advisors, ASL. State Street Global Advisors Trust Company (ARBN 619 273 817) is the trustee of, and the issuer of interests in, the SPDR® S&P 500® ETF Trust, an ETF registered with the United States Securities and Exchange Commission under the Investment Company Act of 1940 and principally listed and traded on NYSE Arca, Inc. under the symbol "SPY". State Street Global Advisors, ASL is the AQUA Product Issuer for the CHESS Depositary Interests (or "CDIs") which have been created over units in SPY and are quoted on the AQUA market of the ASX. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street Global Advisors, ASL's express written consent.