Image alt tag

Error!

There was a problem contacting the server. Please try after sometime.

Sorry, we are unable to process your request.

Error!

We're sorry, but the Insights and Intelligence Tool is temporarily unavailable

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Error!

We're sorry, but the Literature Center checkout function is temporarily unavailable.

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

A verification Email Has Been Sent

An email verification email has been sent to .
Follow the instructions to complete the email validation process.

I have not received my verification email

Check your SPAM mailbox and make sure that twelcome@lordabbett.com is allowed to send you mail.

I'm still having trouble

If you're still having trouble verifying your email address. feel free to contact us.

1-888-522-2388
clientservices@lordabbett.com


OK

We're sorry. We found no record of the email address you provided.

Register For a LordAbbett.com Account
Using Your Email Address.

  • Registered Financial Advisors gain access to:
  • Our data mining tool, Insight & Intelligence
  • Best in-class practice management content
  • Educational events, videos and podcasts.
  • The Lord Abbett Review - Subscribe now!

Registered but Having Problems?

If you believe you are registered and are having problems verifying your email address, feel free to contact us.

1-888-522-2388 clientservices@lordabbett.com

Terms & Condition

These Terms of Use ("Terms of Use") are made between the undersigned user ("you") and Lord, Abbett & Co. ("we" or "us"). They become effective on the date that you electronically execute these Terms of Use ("Effective Date").

A. You are a successful financial consultant that markets securities, including the Lord Abbett Family of Funds;

B. We have developed the Lord Abbett Intelligence System (the "Intelligence System"), a state of the art information resource that we make available to a limited community of broker/dealers through the Internet at a secure Web site (the "LAIS Site"); and

C. We wish to provide access to the Intelligence System to you as an information tool responsive to the demands of your successful business pursuant to these Terms of Use. Accordingly, you and we, intending to be legally bound, hereby agree as follows:]

1. Overview. · Scope. These Terms of Use (which we may amend from time to time) govern your use of the Intelligence System. · Revisions; Changes. We may amend these Terms of Use at any time by posting amended Terms of Use ("Amended Terms of Use") on the LAIS Site. Any Amended Terms of Use will become effective immediately upon posting. Your use of the Intelligence System after any Amended Terms of Use become effective will be deemed to constitute your acceptance of those Amended Terms of Use.We may modify or discontinue the Intelligence System at any time, temporarily or permanently, with or without notice to you. Purpose of the Intelligence System. The Intelligence System is intended to be an information resource that you may use to contribute to your business research. The Intelligence System is for broker/dealer use only; it is not to be used with the public in oral, written or electronic form. The information on the Intelligence System and LAIS Site is for your information only and is neither the tax, legal or investment advice of Lord Abbett or its third-party sources nor their recommendation to purchase or sell any security.

2. Your Privileges. · Personal Use. Your use of the Intelligence System is a nontransferable privilege granted by us to you and that we may deny, suspend or revoke at any time, with or without cause or notice. · Access to and Use of the Intelligence System. The User ID and password (together, an "Access ID") issued by us to you (as subsequently changed by you from time to time) is for your exclusive access to and use of the Intelligence System. You will: (a) be responsible for the security and use of your Access ID, (b) not disclose your Access ID to anyone and (c) not permit anyone to use your Access ID. Any access or use of the Intelligence System through the use of your Access ID will be deemed to be your actions, for which you will be responsible. · Required Technology. You must provide, at your own cost and expense, the equipment and services necessary to access and use the Intelligence System. At any time, we may change the supporting technology and services necessary to use the Intelligence System. · Availability. We make no guarantee that you will be able to access the Intelligence System at any given time or that your access will be uninterrupted, error-free or free from unauthorized security breaches.

3. Rights in Data. Our use of information collected from you will be in accordance with our Privacy Policy posted on the LAIS Site. Our compliance with our Privacy Policy will survive any termination of these Terms of Use or of your use of the Intelligence System.

4. Your Conduct in the Use of the Intelligence System. You may access, search, view and store a personal copy of the information contained on the LAIS Site for your use as a broker/dealer. Any other use by you of the Intelligence System and the information contained on the LAIS Site these Terms of Use is strictly prohibited. Without limiting the preceding sentence, you will not: · Engage in or permit any reproduction, copying, translation, modification, adaptation, creation of derivative works from, distribution, transmission, transfer, republication, compilation or decompilation, reverse engineering, display, removal or deletion of the Intelligence System, any portion thereof, or any data, content or information provided by us or any of our third-party sources in any form, media or technology now existing or hereafter developed, that is not specifically authorized under these Terms of Use.

· Remove, obscure or alter any notice, disclaimer or other disclosure affixed to or contained within the Intelligence System, including any copyright notice, trademark and other proprietary rights notices and any legal notices regarding the data, content or information provided through the Intelligence System.

· Create a hyperlink to, frame or use framing techniques to enclose any information found anywhere on the LAIS Site without our express prior written consent.

· Impersonate any person, or falsely state or otherwise misrepresent his or her affiliation with any person in connection with any use of the Intelligence System.

· Breach or attempt to breach the security of the Intelligence System or any network, servers, data, or computers or other hardware relating to or used in connection with the Intelligence System; nor (b) use or distribute through the Intelligence System software or other tools or devices designed to interfere with or compromise the privacy, security or use of the Intelligence System by others or the operations or assets of any person.

· Violate any applicable law, including, without limitation, any state federal securities laws. 5. Your Representations and Warranties. You hereby represent and warrant to us, for our benefit, as of the time of these Terms of Use and for so long as you continue to use the Intelligence System, that (a) you are, and will continue to be, in compliance with these Terms of Use and any applicable laws and (b) you are authorized to provide to us the information we collect, as described in our Privacy Policy.

6. Disclaimer of Warranties.

· General Disclaimers.

THE INTELLIGENCE SYSTEM, THE LAIS SITE AND ALL DATA, INFORMATION AND CONTENT ON THE LAIS SITE ARE PROVIDED "AS IS" AND “AS AVAILABLE” AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND. WITHOUT LIMITING THE PRECEDING SENTENCE, LORD ABBETT, ITS AFFILIATES, AGENTS, THIRD-PARTY SUPPLIERS AND LICENSORS, AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, DIRECTORS, OFFICERS AND SHAREHOLDERS (COLLECTIVELY, THE “LORD ABBETT GROUP”) EXPRESSLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NONINFRINGEMENT. YOU EXPRESSLY AGREE THAT YOUR USE OF THE LAIS SITE, THE INTELLIGENCE SYSTEM, AND THE DATA, INFORMATION AND CONTENT PRESENTED THERE ARE AT YOUR SOLE RISK AND THAT THE LORD ABBETT GROUP WILL NOT BE RESPONSIBLE FOR ANY (A) ERRORS OR INACCURACIES IN THE DATA, CONTENT AND INFORMATION ON THE LAIS SITE AND THE INTELLIGENCE SYSTEM OR (B) ANY TERMINATION, SUSPENSION, INTERRUPTION OF SERVICES, OR DELAYS IN THE OPERATION OF THE LAIS SITE OR THE INTELLIGENCE SYSTEM.

· Disclaimer Regarding Investment Research.

THE INTELLIGENCE SYSTEM INCORPORATES DATA, CONTENT AND INFORMATION FROM VARIOUS SOURCES THAT WE BELIEVE TO BE ACCURATE AND RELIABLE. HOWEVER, THE LORD ABBETT GROUP MAKES NO CLAIMS, REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY, TIMELINESS, COMPLETENESS OR TRUTHFULNESS OF SUCH DATA, CONTENT AND INFORMATION. YOU EXPRESSLY AGREE THAT YOU ARE RESPONSIBLE FOR INDEPENDENTLY VERIFYING YOUR INVESTMENT RESEARCH PRIOR TO FORMING YOUR INVESTMENT DECISIONS OR RENDERING INVESTMENT ADVICE. THE LORD ABBETT GROUP WILL NOT BE LIABLE FOR ANY INVESTMENT DECISION MADE BY YOU OR ANY OTHER PERSON BASED UPON THE DATA, CONTENT AND INFORMATION PROVIDED THROUGH THE INTELLIGENCE SYSTEM OR ON THE LAIS SITE.

· Survival.

THIS SECTION 6 SHALL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM..

7. Limitations on Liability.

NONE OF THE MEMBERS OF THE LORD ABBETT GROUP WILL BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, SPECIAL OR EXEMPLARY DAMAGES (INCLUDING LOSS OF PROFITS, LOSS OF USE, TRANSACTION LOSSES, OPPORTUNITY COSTS, LOSS OF DATA, OR INTERRUPTION OF BUSINESS) RESULTING FROM, ARISING OUT OF OR IN ANY WAY RELATING TO THE INTELLIGENCE SYSTEM, THE LAIS SITE OR YOUR USE THEREOF, EVEN IF THE LORD ABBETT GROUP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS SECTION 7 WILL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM.

8. Miscellaneous Provisions.

· Governing Law. This Agreement will governed by and construed in accordance with the laws of the State of New York, without giving effect to applicable conflicts of law principles.

THE UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT OR ANY VERSION THEREOF, ADOPTED BY ANY STATE, IN ANY FORM ("UCITA") WILL NOT APPLY TO THESE TERMS OF USE. TO THE EXTENT THAT UCITA IS APPLICABLE, THE PARTIES HEREBY AGREE TO OPT OUT OF THE APPLICABILITY OF UCITA PURSUANT TO THE OPT-OUT PROVISION(S) CONTAINED THEREIN.

The Intelligence System is not intended to be used by consumers, nor are the consumer protection laws of any jurisdiction intended to apply to the Intelligence System. You agree to initiate and maintain any action, suit or proceeding relating to these Terms of Use or arising out of the use of the Intelligence System exclusively in the courts, state and federal, located in or having jurisdiction over New York County, New York.

YOU HEREBY CONSENT TO THE PERSONAL JURISDICTION AND VENUE OF THE COURTS, STATE AND FEDERAL, LOCATED IN OR HAVING JURISDICTION OVER NEW YORK COUNTY, NEW YORK. YOU AGREE THAT YOU WILL NOT OBJECT TO A PROCEEDING BROUGHT IN YOUR LOCAL JURISDICTION TO ENFORCE AN ORDER OR JUDGMENT OBTAINED IN NEW YORK.

· Relationship of Parties. The parties to these Terms of Use are independent contractors and nothing in these Terms of Use will be construed as creating an employment relationship, joint venture, partnership, agency or fiduciary relationship between the parties.

· Notice. All notices provided under these Terms of Use will be in writing and will be deemed effective: (a) when delivered personally, (b) when received by electronic delivery, (c) one business day after deposit with a commercial overnight carrier specifying next day delivery, with written verification of receipt, or (d) three business days after having been sent by registered or certified mail, return receipt requested. We will only accept notices from you in English and by conventional mail addressed to: General Counsel Lord, Abbett & Co. 90 Hudson Street Jersey City, N.J. 07302-3973 We may give you notice by conventional mail or electronic mail addressed to the last mail or electronic mail address transmitted by you to us.

· Third-Party Beneficiaries. The members of the Lord Abbett Group are third-party beneficiaries of the rights and benefits provided to us under these Terms of Use. You understand and agree that any right or benefit available to us or any member of the Lord Abbett Group hereunder will also be deemed to accrue to the benefit of, and may be exercised directly by, any member of the Lord Abbett Group to the extent applicable.

· Survival. This Section 8 will survive any termination of these Terms of Use or your use of the Intelligence System. The undersigned hereby signs these Terms of Use. By electronically signing and clicking "Accept" below, these Terms of Use will be legally binding on me. To sign these Terms of Use, confirm your full name and enter your User ID and Password (as your electronic signature) in the fields indicated below and click the “I Accept” button.

Reset Your Password

Financial Professionals*

Your password must be a minimum of characters.

Confirmation Message

Your LordAbbett.com password was successully updated. This page will be refreshed after 3 seconds.

OK

 

Practice Management

An unexpected windfall is welcome, but stressful. Here's a plan for helping clients cope.

Way back when, a windfall was nothing more than a pile of sticks. The word actually comes from an eighteenth-century law that allowed American settlers to collect only the wood blown to the ground by the wind. Anything cut down was the property of the English monarchy. When strong winds felled trees, the settlers had an opportunity to build for the future.

Today, a financial windfall can provide similar opportunities to grow a financial support structure that can last for years to come. Sudden wealth can come from a variety of places: a marriage or divorce, a sale of a business, an insurance settlement, an inheritance, etc.

No matter its source, newfound wealth may bring a major life change for clients, often stirring a range of complex emotions. Psychologists even have a name for it: sudden wealth syndrome.

Four Keys
Because their newly minted money can come from so many different sources, there's no one-size-fits-all approach to working with newly wealthy clients. But there are several shared principles to keep in mind:
* Recognize the emotional impact of the life change.
* Communicate clearly and often.
* Understand family dynamics.
* Show that you have a process for working with clients in this situation.

Taking a closer look at these elements, it's clear why they're essential for attracting and retaining such clients. Without a strategic approach, you may find yourself passed over.

Advisors who successfully advise suddenly wealthy clients don't just provide financial education, they also prepare clients to handle the major transitions a windfall usually entails. "These clients need to be treated much differently from other clients because of the change or transformation that's occurred," says Susan K. Bradley, author of Sudden Money: Managing a Financial Windfall and founder of the Sudden Money Institute in Palm Beach Gardens, Florida.

"It's natural for clients and advisors to gravitate toward the investments because they are concrete and easily definable. But it's the human side that should take priority," she says. These clients are often under a huge amount of stress, which can limit their ability to focus and make decisions. You may offer them great advice, but if they're beset by anxiety, they won't be able to absorb it.

In her coaching sessions and seminars for financial advisors, Bradley emphasizes the importance of easing the often-stressful transition for clients. It's key to understand the issues they face and to tailor your routine to their needs. "The advisor's role is to create a process for bridging the personal/subjective behavior and the technical/objective financial planning issues," she says. A well-defined process helps keep stress in check and clients focused on the big picture.

Constant Communication
Once clients' stress is under control, then it's time to talk about their finances. Clear communication is essential in any relationship, but it's especially important with these clients who often face unexpected distractions. If they're not sophisticated investors, they may be reluctant to take your advice until they understand their financial situation more fully.

Advisor Charles P. Brown of Capitol Financial Advisors in Wellesley, Massachusetts, finds that clear communication makes all the difference with such clients, many of whom are entrepreneurs who have just sold their businesses. "Years ago, I realized that many of my business-owner clients perceive investing to be similar to gambling or going to Las Vegas," Brown says. "Before they owned their businesses, all of their money was in the bank, where it was real and tangible to them. When they sell their businesses, we need to train these clients about investing, showing them how their money works for them now - and that it's not as unpredictable as they originally thought."

Often, getting your message across takes time and patience, especially with risk-averse clients. "Our approach is to spend as many meetings as it takes for them to truly understand investment risk, including the different types of risks and how they are measured," Brown says. It may not yield immediate results, but plain and frequent communication builds clients' trust and enables them to move forward.

To preserve sudden wealth for the long term, it's essential to gauge family dynamics and often forge relationships with a client's next of kin. After all, family issues can prevent clients from taking sound advice, particularly in wealth-transfer situations, says Kathleen Burns Kingsbury, founder of KBK Wealth Connection and author of Creating Wealth from the Inside Out Workbook.

Only a small percentage of wealth-transfer plans go awry because of problems with financial planning, taxes or legal issues. The main reason is faulty family communication and preparation. Kingsbury quips, "Clients may see themselves as well-trained quarterbacks throwing the perfect spiral to a wide receiver, only to have the receiver drop the ball in the end zone. In this case, everyone loses."

Anticipating these problems, savvy advisors coach all of the players, not just the quarterback. "Clients struggle with how to start the dialogue, how to handle the real or anticipated discomfort of talking about money, and how to work through conflicts that may arise when family members have different perspectives," Kingsbury says. By guiding them through these challenging conversations and fostering family communication, you can help suddenly wealthy clients build a lasting legacy for future generations.

Show Your Strength
These clients tend to gravitate toward advisors who are set up to work with individuals in their situation. They want to know that you and your team understand how to handle their needs.

"From my experience, it doesn't take an individual or family much time to determine whether you're set up to work with them long term," says advisor Jonathan C. Wolff of Lightship Wealth Strategies in Newton Lower Falls, Massachusetts. "The effort you put into developing your approach can not only make the difference in attracting new sudden wealth clients, but also in maintaining them profitably."

His first step? He takes the money out of the equation. "One important decision we make is to do nothing with the money for about a year. Not only does this take all the stress off the clients, but it also helps them get laser-focused on their goals and long-term planning," he says. "Even if the assets sit in an account earning practically nothing, it allows us time to get the clients' expectations and personal issues on the table."

Next, he gets clients thinking about the future by asking, "What is that one thing you've always wanted to do?" Whether the goal is to buy a beach house, travel around the world or pay for a relative's education, Wolff shows clients he can help them craft a plan to fulfill their dreams.

In the end, though, working with windfall clients comes back to relieving their stress. "We prepare them for what they're going to run into with their newfound wealth and let them know that all of their financial matters will flow through us," Wolff says. "We even coach them on how to handle individuals and family members who ask them for money."

Most people who come into sudden wealth lack the financial planning knowledge to handle their new assets, and many are quick to realize they can't do it alone. Going forward, a $40 trillion wealth transfer is on the horizon, the use of stock options to attract and keep key executives is growing and baby boomers are beginning to retire and sell their businesses. All that means is it's vital to refine your approach for working with newly wealthy clients.

 

Scott Schutte is vice president of financial planning and risk management at Commonwealth Financial Network in Waltham, Massachusetts.

 

Related Commentary

Please confirm your literature shipping address

Please review the address information below and make any necessary changes.

All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

Current Literature Shipping Address

* Required field