How can financial advisors leverage home equity and reverse mortgages in financial planning?

In this episode, Jamie Hopkins, Managing Partner of Wealth Solutions, and Ana Trujillo Limón, Director, Coaching and Advisor Content, speak with Craig Lemoine, CFP®, Ph.D., MRFC, Director of Personal Financial Planning, and Steve Resch, Vice President of Retirement Strategies at Finance of America Reverse, about the use of home equity in financial planning, focusing on reverse mortgages. Steve shares his experience in the field, the current state of the reverse mortgage space, and the challenges in the proprietary reverse mortgage market. He also discusses the potential for tech providers to develop software programs that can effectively incorporate home equity into financial planning analysis.

Steve and Craig discuss: 

• Steve's role in educating financial advisors about using home equity in their financial planning process
• The current state of the reverse mortgage space and its primary utilization
• The potential benefits of reverse mortgages for individuals with medium credit scores
• Challenges in the proprietary reverse mortgage market and its focus on mass affluent and slightly fluent borrowers
• Loan amounts and lending limits in the reverse mortgage space
• The lack of software programs incorporating home equity into financial planning analysis
• And more

Resources:

• Finance of America Reverse: Reverse Mortgage Illustrator

Connect with Ana Trujillo Limón: 

• Carson Group LLC
• LinkedIn: Ana Trujillo Limón

Connect with Steve Resch:

• Finance of America Reverse
• LinkedIn: Steve Resch

Connect with Craig Lemoine:

• University of Illinois
• LinkedIn: Craig Lemoine
• X (Twitter): @HigherEdCraig

About our Guests: 

As Vice President of Retirement Strategies at Finance of America Reverse, Stephen Resch leads the education and training programs for financial professionals about the strategic use of home equity within a comprehensive financial plan. He is also the designer of The Reverse Illustrator, our proprietary software program that graphically displays the features and flexibility of a reverse mortgage over a 30-year term. Steve’s career in financial services spans over 30 years, first as a fixed-income analyst on Wall Street, and for the past 25 years as a partner in a wealth management firm. His practice is focused on effective retirement income strategies and will often include a reverse mortgage to manage cash flow, income tax, market performance, and other considerations to help enhance an effective retirement income distribution plan. Steve is a subject expert source, interviewed by numerous media outlets including Nasdaq Trade Talks, Yahoo Finance, and Barrons, among others, and is a frequent speaker at both national and regional professional conferences.

Send us your questions, we’d love to hear from you! Email us at framework@carsongroup.com.

Disclosure:

This episode of Framework was pre-recorded. At the time of recording, Jamie Hopkins was affiliated with CWM, LLC. Jamie Hopkins is not currently registered with or affiliated with CWM, LLC.
This episode of the Framework podcast is purely educational. No products or services will be recommended or offered for sale.