What is the first action a financial planner should take after establishing client/planner engagement with a couple interested in retirement?

The optimal first action a financial planner should take after establishing client/planner engagement with a couple interested in retirement is to establish objectives and gather data. This step is crucial as it allows the financial planner to understand the couple's individual and joint financial goals, priorities, and concerns regarding their retirement. By establishing objectives, the planner can tailor the financial plan to align with the couple’s aspirations, whether those involve travel, family support, or legacy considerations.

Gathering information about their current financial status is inherently part of this process, but it follows after the objectives have been set. Discussing investment strategies and providing a detailed retirement plan are subsequent steps that build off the established objectives and data collected. Establishing clear goals ensures that the financial solutions offered resonate with what the couple genuinely desires for their retirement, forming a cornerstone for the holistic retirement planning process.