Naomi Karp, a coauthor of the Thinking Ahead Roadmap was interviewed for Investor's Business Daily about the importance of encourage clients to pick a financial advocate as part of their retirement planning.

"Advisors should stress the importance of advance planning with clients," Karp said. "This gives the client more control over what happens if they later develop dementia, such as who will step in to handle finances, how they make the transition and how the money should be managed," to honor the client's wishes.

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