Toronto-based CI Financial Corp. has partnered with an aging and longevity expert at the Massachusetts Institute of Technology.
Joseph Coughlin, founder and director of MIT’s AgeLab, will advise CI advisors on how to better serve aging and retired clients, CI said Tuesday in a release.
CI Financial CEO Kurt MacAlpine said the partnership would help the firm become a leader in retirement solutions.
“Joe Coughlin’s work is directly relevant to a critical issue facing older Canadians today — transitioning from accumulating assets to turning those assets [into] a source of retirement income that will last 25 to 30 years or more,” he said in a statement.
Coughlin researches demographic change and teaches in MIT’s Department of Urban Studies and Planning. He is the author of The Longevity Economy: Inside the World’s Fastest Growing, Most Misunderstood Market.
“Members of the over-50 demographic are increasingly influential over our society and its wealth, and their interests and aspirations are evolving rapidly,” Coughlin said in a statement. “Those financial services firms and advisors who understand and adapt to these changes will remain relevant and valued by their clients.”
The partnership continues CI’s shift to focus on modernizing its asset management business, expanding its wealth management platform and globalizing the firm, the release said.