For the last three years, InvestmentNews has recognized the innovative leaders of the financial advice industry who are shaping and transforming the profession. This year, AgeLab Founder and Director Joseph Coughlin was named one of ten Innovators for the 2019 Icons and Innovators list.
Dr. Coughlin explains, “We are working on getting the financial services industry to be a catalyst for change on how we think about longevity." Financial advisors are uniquely situated to contribute to developing a new story of life in retirement. “The industry does a good job talking about complexity and quantitative matters, but when we talk to people about retirement, we need to change the narrative to appeal to their heads and hearts, and help them design their own later lives.”
Dr. Coughlin's insights come out of findings unearthed by the MIT AgeLab research team. AgeLab Doctoral Associate Martina Raue's possible selves research and AgeLab Research Scientist Chaiwoo Lee's mapping of the common vocabulary of retirement, to name two examples, illustrate the difficulties that individuals face in imagining life in older age. Dr. Coughlin's ideas also correspond with research by AgeLab Research Scientist Lisa D'Ambrosio and AgeLab Research Specialist Samantha Brady into retirement planning considerations that go beyond money alone - needs such as transportation and social engagement.
The AgeLab works extensively with many financial services companies that are leaders in delivering advice and providing innovative retirement products in today’s longevity economy.
View Dr. Coughlin and the other Icons and Innovators here.