1. Financial Leadership Leading the Retirement Transition

2. Financial Leadership 1.Retirement is change 2.Change is hard 3.Major reason is lack of leadership 4.We need to lead 5.What leaders do – a model

3. Retirement is Change Life is about beginnings and endings Change is challenging Loss – loss of a role – loss of a person – loss of a place – loss of a sense of where you fit in the world Change forces us to let go of the familiar and face an uncertain future Financial Leadership

4. VULNERABILITY Financial Leadership

5. Life Transitions Financial Leadership

6. High Anxiety Source: The McKinsey Quarterly 2005 Financial Leadership 40 34 28 42 21 40 0 10 20 30 40 50 60 70 80 45 - 5455 - 6465 and over Moderately Anxious Extremely Anxious

7. Percentage of people who expect or currently enjoy retirement “a great deal” Source: Ameriprise Financial New Retirement Survey 2005 60 65 70 75 80 +16 Yrs before 6-15 yrs before < 5 yrs before 1 yr after 16 yrs after 2-15 yrs after Financial Leadership

8. Change is hard Financial Leadership

9. Change is Usually Mis-managed Financial Leadership

10. Advisor Evolution Leader “Fulfill your potential” Salesperson “Buy something” Consultant “Buy into something” Financial Leadership

11. A Framework for Leading the Retirement Transition Financial Leadership

12. Leading the Retirement Transition Successful Transition Motivation + Implementation = Vision + Expertise + Resistance = Expertise Vision Implementation + + Motivation X Confusion = Motivation Expertise Implementation + Vision + X Anxiety = Motivation Vision Implementation + + Expertise X Adopted from Ambrose 1987 Frustration = Motivation Expertise Vision + + Implementation X Financial Leadership

13. Leading the Retirement Transition X Motivation Vision Expertise Implementation Resistance + = + + What is the value? What’s in it for me/my family? Motivation Financial Leadership

14. Motivation

15. Retirement Risks Longevity Inflation Health care costs Market Motivation

16. www.ci.com/pd New Retirement Realities (SS) Client version This presentation provides a look at the new realities of retirement and how the changing retirement experience will impact investors. Multi Media | PPT | PDF

17. www.ci.com/pd

18. Discussion Points for Clients 7/10 investors concerned with short and mid-term spending “Surprise” retirement puts a big wrinkle in plans of many 7/10 expect to continue to work > 50% expect to use equity in their home Retirement income planning is not understood Motivation

19. X Vision Expertise Implementation Confusion + = + + A common, understood, compelling future state Provides direction and a sense of unity A leader provides a “reframed future” Shared Vision Leading the Retirement Transition

20. The human being is the only animal that… thinks about the future! Shared Vision

21. 1.We don’t imagine or vision well Shared Vision

22. Presentism “The tendency is for current experience to influence one’s view of the future” Shared Vision

23. “What do you want to be when you grow up?” “What do you want to be NOW?” Shared Vision

24. The Ideal Financial Advisor While older retirees and pre-retirees want a financial advisor who is trustworthy, those 55 - 64 seek life-planning guidance, especially help in visualizing their future. 51% 39% 47% 43% 45% 44% 43% 37% 0% 10% 20% 30% 40% 50% 60% Helps me visualize my future Able to relate to and understand my current lifestyle needs Works for a company I trust Is extremely knowledgeable about financial planning Characteristics that best describe the ideal financial advisor Ages 55 - 64 years Age 65+ years Source: AIG SunAmerica / Harris Interactive “Resourcing Retirement” survey Shared Vision

25. 1.We don’t imagine or vision well 2.Seek out people who are actually experiencing the future events we are merely thinking about Shared Vision

26. Engage the Clients Set up and host retirement “Advisory Groups” Shared Vision Have clients of different ages share stories

27. Shared Vision The Taylors

28. Shared Vision 1.We don’t imagine or vision well 2.Seek out people who are actually experiencing the future events we are merely thinking about 3.Logical and emotional feedback Shared Vision

30. Discussion Points With Clients Factual motivation or crisis is not enough Fear of death Speak to people’s feelings Help people see problems and solutions in ways that influence feelings/emotions – not just thoughts Positive, inspiring and emotionally resonant Joy of life Shared Vision

31. X Motivation Vision Expertise Implementation Anxiety + = + + The skills and knowledge needed to move into the new reality A range of expertise A holistic integrated approach Expertise Leading the Retirement Transition

32. Expertise What makes an expert? Expertise

33. X Straight talk/common sense Really cares about people Long term, patient view Communicates in stories and real life situations Helps people put finance in context of their lives Expertise

34. It Takes a Village…. Team Approach Expertise

35. Retirement Transition Team Investment management Investment management Legal guidance Insurance Tax & estate advice Cash management Life coaching Health care coordination Philanthropy Expertise

36. www.ci.com/pd

39. Discussion Points With Clients Consolidation of advice – with you as the LEADER “Quarterback” the team of professionals Relationship manager is key role Expertise

40. X Motivation Vision Expertise Implementation Frustration + = + + Making sure things that are supposed to happen actually happen Translate big thoughts into concrete steps for action Following through with accountability Implementation Leading the Retirement Transition

41. Leaders Are Passionate About Getting Results Involvement of all key players Details on the “hows” of execution Milestones for progress with strict accountability Contingency plans to deal with the unexpected Implementation

42. Written Financial Plans Work Source: Ameriprise New Retirement Landscape 2006 Plan No Plan Living my dream retirement 42% 68% 54% 78% Retirement worked out as planned 70% 93% Feel very/somewhat prepared for retirement 69% 84% Anticipate feeling optimistic in retirement Implementation

43. Leading the Retirement Transition Financial Leadership

44. Leading the Retirement Transition Successful Transition Motivation + Implementation = Vision + Expertise + Resistance = Expertise Vision Implementation + + Motivation X Confusion = Motivation Expertise Implementation + Vision + X Anxiety = Motivation Vision Implementation + + Expertise X Adopted from Ambrose 1987 Frustration = Motivation Expertise Vision + + Implementation X Financial Leadership

45. Helping Clients Deal with the Emotional Rollercoaster Successful Transition Motivation + Implementation = Vision + Expertise + Resistance = Expertise Vision Implementation + + Motivation X Confusion = Motivation Expertise Implementation + Vision + X Anxiety = Motivation Vision Implementation + + Expertise X Frustration = Motivation Expertise Vision + + Implementation X Adopted from Ambrose 1987 Financial Leadership

46. All Types of Leaders Visionaries Deal makers Administrators Enforcers Transformers Laissez-faire leaders Leadership

47. Servant Leadership Begins with the natural feeling that one wants to serve – to serve first Then the aspiration to lead Different from one who is “leader” first – for power or to acquire possessions Leadership

48. Servant Leadership – Characteristics Listening Empathy Stewardship Commitment to people’s growth Building Community Persuasion Conceptualization Foresight Leadership

49. Thank you All charts and illustrations in this guide are for illustrative purposes only. They are not intended to predict or project investment results. ® CI Investments and the CI Investments design are registered trademarks of CI Investments Inc. ® SunWise is a registered trademark of Sun Life Assurance Company of Canada. Please email pd@ci.com if you have any questions or concerns. pd@ci.com