What are Life Events & Milestones?
Life events are significant changes in a person's life that typically trigger financial planning needs. The Catchlight dashboard tracks and visualizes these events, helping you identify timely opportunities to provide relevant advice and services.
Types of Life Events Tracked
Career & Employment
Job changes: New employer or position within last 6-12 months
Job level changes: Promotions or career advancement
Recent education: New degrees or certifications
Family & Personal
Marriage: Recently married clients
New children: Recent additions to the family
Children reaching milestones: College age, independence
Grandchildren: New grandparent status
Financial Milestones
Home purchase: Recently bought or upgraded property
Wealth accumulation: Moved into new wealth segment
Retirement proximity: Within 5 years of typical retirement age
Business milestones: Company growth, sale preparation
Eligibility Milestones
Medicare eligibility: Approaching or recently turned 65
Social Security eligibility: Approaching or reached claiming age
RMD age: Approaching required minimum distribution age (73+)
Catch-up contribution eligibility: Turned 50+
Understanding the Charts
Life Events Distribution Chart
Shows how many clients are experiencing each type of life event:
Event Type: Category of life change
Client Count: Number affected
Timeframe: When events occurred (recent, current year, etc.)
Milestone Timeline View
Displays upcoming milestones chronologically:
Next 3 months: Immediate opportunities
3-6 months: Near-term planning needs
6-12 months: Future considerations
Event Combinations
Identifies clients experiencing multiple simultaneous events:
High Priority: Multiple major events (e.g., job change + home purchase)
Compounding Opportunities: Related events creating bigger needs
How to Use These Charts
1. Prioritize Outreach
Focus on clients with recent or upcoming life events who need timely guidance.
High Priority Events:
Job changes (equity compensation, 401(k) rollovers)
Retirement within 12 months (distribution planning)
Recent inheritance or windfall
Business sale or liquidity event
Medium Priority:
Children entering college (529 distributions, financial aid)
Home purchases (mortgage planning, cash flow)
New grandchildren (gifting strategies, 529s)
2. Personalize Your Outreach
Reference the specific life event in your communication:
Example: "Congratulations on your new role at [Company]! This is a great time to review your equity compensation package and ensure your 401(k) is optimized."
3. Create Event-Based Campaigns
Design marketing campaigns around common life events:
"Pre-Retirement Planning Checklist" for those turning 60-64
"New Parent Financial Guide" for clients with young children
"Executive Transition Planning" for recent job changers
4. Schedule Proactive Reviews
Use milestones to trigger review meetings:
Annual reviews for clients turning 50, 55, 60, 65, 70
Mid-year check-ins for recent job changes
Quarterly reviews for clients nearing retirement
Filtering for Targeted Action
Combine life events with other filters:
High-Value + Life Event
Filter: Wealth Segment = "High Net Worth" AND Life Event = "Job Change"
Action: Priority outreach for equity compensation planning
Life Event + Low Engagement
Filter: Life Event present AND Last Contact > 90 days
Action: Re-engagement campaign with relevant content
Multiple Events + High Score
Filter: Number of Life Events > 1 AND Catchlight Score > 70
Action: Comprehensive planning review
Upcoming Milestones + Age
Filter: Age = 64 AND Medicare Eligibility = "Next 12 months"
Action: Medicare planning workshop invitation
Example Use Cases
Scenario 1: Job Change Campaign You identify 15 clients who changed jobs in the last 6 months. You create a targeted email campaign about 401(k) rollover options and equity compensation planning, resulting in 8 planning meetings.
Scenario 2: Pre-Retiree Workshop The dashboard shows 23 clients within 3 years of retirement. You host a "Retirement Readiness Workshop" specifically for this group, covering Social Security timing, Medicare, and distribution strategies.
Scenario 3: New Parent Outreach You notice 5 clients with recent children. You send personalized notes congratulating them and offering a complimentary education planning session to discuss 529 plans and life insurance.
Scenario 4: Medicare Enrollment Support The Eligibility Milestones chart shows 12 clients turning 65 in the next 6 months. You schedule individual Medicare planning sessions to review options and enrollment deadlines.
Strategic Applications
Client Lifecycle Management
Map your service offerings to life events:
Early Career: Education debt, emergency funds, insurance
Family Formation: Home buying, education planning, estate basics
Peak Earning: Wealth accumulation, tax optimization, estate planning
Pre-Retirement: Distribution planning, Social Security, Medicare
Retirement: Income management, RMDs, legacy planning
Revenue Growth
Life events often correlate with:
Increased investable assets
Need for additional services
Higher fee potential
Referral opportunities (others going through similar events)
Client Retention
Proactive outreach during life events:
Demonstrates you're paying attention
Provides value at crucial moments
Strengthens the advisor-client relationship
Reduces attrition risk
Tips for Action
Set Alerts: Use dashboard notifications for high-priority events
Create Templates: Develop message templates for common events
Track Results: Monitor which life events lead to best engagement
Be Timely: Reach out within 30 days of event detection
Add Value: Provide relevant resources, not just sales pitches
Follow Through: Schedule follow-up actions for ongoing support
What to Avoid
Don't Assume: Not every life event needs the same response
Respect Privacy: Some events are sensitive (divorce, health issues)
Don't Overwhelm: Too many advisors contacting about the same event
Timing Matters: Reaching out too late reduces relevance
Generic Messaging: Personalize based on the specific event and client
Data Freshness
Life events are typically updated:
Monthly: For most detected events
Quarterly: For milestone projections
Real-time: For self-reported client updates
Some events may be detected with a lag based on data source timing.
Related Articles
5.7: Life Events & Eligibility Milestones
6.3: Timing Your Outreach
6.4: Building Conversation Starters
3.3: Using Filters to Refine Your View
6.1: Prioritizing Leads