Five Questions With: Ann Sutherland-Auclair

"Women are living 10-20 years longer than their male counterparts. So retirement savings for women should account for a longer lifespan."

Ann Sutherland-Auclair, co-owner of Auclair & Auclair LLP, was named a 2015 Five Star Wealth Manager last month for overall client satisfaction.
The award, granted by Rhode Island Monthly, was given to less than 8 percent of wealth managers in Rhode Island. Sutherland-Auclair owns the business with her husband and specializes in retirement income planning, particularly as it applies to women. She also holds a Master’s in counseling and psychology, which she says helps in her practice.

PBN: What does it mean to you and your business to receive this award and recognition?
SUTHERLAND-AUCLAIR:
I’m so happy about receiving this award because it stands for the very core of our business – client service. Gone are the days of having a hard time reaching your financial adviser or feeling like he or she speaks another language. We put clients first. Our clients know we are here for them and that they are our number one priority. Honestly, our clients feel like family. We make it our mission to know them inside and out. We also see it as our role to make complex theories easy for our clients to understand and to speak to them in plain English. That’s what this award stands for. Why be in business if not to serve your clients to the best of your ability?

PBN: A large part of your practice is focused on retirement savings, specifically as it applies to women and money. Why do women need to plan for retirement differently than men?
SUTHERLAND-AUCLAIR:
Women are living 10-20 years longer than their male counterparts. So retirement savings for women should account for a longer lifespan. In past generations, women were less involved with finances and if widowed, they were left with the burden of grief and figuring out how to survive. My role is really just to make sure that women understand their financial reality and are in control of their lives and their future. I have helped many divorced women get the quick education they need to stay afloat in their day-to-day lives, and in their retirement.

PBN: How has your Master’s degree in counseling and psychology helped you in your practice?
SUTHERLAND-AUCLAIR
: When people come through our doors, they come to share their dreams and their goals with us, but they also bring their fears and concerns. My background in counseling probably gives me an advantage because I know that helping individuals unload some of their anxiety around their finances will ultimately help them feel better about them – and stick with it. I make sure that I answer their questions openly and honestly and do my best to take the fear out of retirement. Retirement is a huge life transition. For some people it is bigger than marriage or the birth of a child. One day you are earning an income from a salary of some sort and the next day you are not. This is scary stuff. Having an open ear and letting clients know how they may feel helps them through this transition.

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PBN: When should people begin to plan for retirement and where does a wealth manager fit into the process?
SUTHERLAND-AUCLAIR
: Retirement planning should begin when you start your very first job. However, the reality is that many people – for whatever reason – don’t begin that early. A wealth manager is a partner and can put the pieces of your financial puzzle together. People should have a financial adviser like they have a doctor or a dentist. Everybody needs one.

PBN: What are some ways people can continue to generate income after retirement, without compromising an ideal lifestyle?
SUTHERLAND-AUCLAIR:
This is the very reason that people need a financial adviser. A financial adviser can create a retirement income plan based on your retirement goals. Some people’s version of an “ideal retirement” would be to have a peaceful retirement, staying home and reading books or playing with their grandchildren. Other people would like to travel the world. It is the job of your financial adviser to create a plan that matches your goals or to help you understand if your goals need to be altered based on your financial realities.

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