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Most retired clients are considered risk-averse since they need to protect their wealth and health.

And these days, regulators are pushing advisors to ere on the side of caution when serving older investors.

Read: Your clients aren’t old, but tell that to regulators

However, 80-year-old Yuichiro Miura has proved there are exceptions to every rule. Just yesterday, this senior adventurer climbed Mount Everest and managed to reach its summit—he’s now the oldest person to ever accomplish the task, reports The Wall Street Journal.

Previously, a 76-year-old Tibetan man held the record.

So what has Miura taught us? Today’s older population will do much more than live longer than previous generations. They may also chase goals and returns more aggressively even during retirement.

As such, make sure to ask these clients about their lifestyles, insurance needs and wealth management expectations early on. You have to offer the services they want, but also need to protect yourself against potential regulatory risks.

Read:

Clients must disclose risky hobbies

Help your senior get insurance

Risk aversion creates retirement risks

Help aging clients find work, protect wealth

Plan your succession before your next vacation

Cool the appetites of risk-hungry clients

Originally published on Advisor.ca
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