Today, we're dipping into the client-facing side of the business to talk about how advisors can best serve clients with disabilities. We're very excited to have Chris Rodriguez of the National Disability Institute with us to teach us about ABLE accounts, a relatively new benefit for people with disabilities and their families.
Chris talks about how his passion for public policy, economic mobility, and disability studies helped him become an expert in his field. He talks about the core mission of the National Disability Institute, and how he and his colleagues collaborate with other organizations to craft progressive policies that help people with disabilities become more financially independent.
Then we talk in depth about ABLE accounts themselves and what you as an advisor should know about them. We compare ABLE accounts with the Special Needs Trust and discuss the importance of financial literacy, while also touching on how you can get involved with the NDI's great work.
There's a ton more great information packed into this interview - catch it below!
Listen to the Full Interview:
What You'll Learn from This Episode:
- How Chris's experience with his brother's disabilities helped him decide to work in public and disability policy.
- Why the NDI focuses on creating economic opportunity and increasing financial literacy for people with disabilities.
- What kind of language to use when working with clients with disabilities and how you can educate yourself about their needs.
- How the ABLE accounts have performed since their passage in December 2014, how they work, and how they compare to other financial tools.
- What's next for the NDI as they work to improve the benefits of ABLE accounts and encourage more states to develop these programs.
- How you can get involved as an advisor and citizen to educate other people about ABLE benefits.
Featured on the Show:
- Register for #XYPN17
- XYPN Radio VIP Community
- First Ascent Asset Management
- Chris Rodriguez of the National Disability Institute
- The ABLE Act
- Michael Morris of the NDI
- US Department of Labor - Office of Disability Employment Policy
- Special Needs Trusts - Basic Overview
- Pooled Trusts
- Medicaid Buy-In Program
- Medicaid Buy-In Fact Sheet
- ABLE National Resource Center
- Compare ABLE programs in states around the county