Harris Private Bank Launches YouTube Channel to Engage Baby Boomers on Topic of Elder Care Planning

Channel brings together health, legal and financial services experts

Oct 13, 2010, 10:00 ET from Harris Bank

CHICAGO, Oct. 13 /PRNewswire/ -- Harris Private Bank today announced the launch of the Harris enCircle® Channel on YouTube, featuring nationally recognized experts in the field of elder care planning.  The channel is designed to provide comprehensive information to the nation's 76 million baby boomers, most of whom currently have no plan for meeting the needs of aging parents or loved ones.  Experts such as Dr. Alexis Abramson, author and national broadcast personality and expert gerontologist, will engage baby boomers to help them understand the trends, needs, desires and challenges mature adults and their caregivers face.  Experts on the channel will also explore the critical health, legal and financial decisions that should be considered before a crisis occurs.

"I have repeatedly seen family members making decisions in extremely stressful situations after an initial health crisis erupts, with little understanding of the resources available to help them with the health, financial and legal planning they will have to address," said Debbie Korompilas, Senior Vice President, Head of Trust & Estate Settlement Services, Harris Private Bank. "Our goal in launching this channel is to help baby boomers understand it's never too late to plan, but it's also never too early."

The complex issues facing baby boomers and their aging parents continue to escalate.  

  • 44 million people age 18 and older are providing unpaid care for others age 50+.  That number represents 19% off all American adults. *
  • The fastest-growing segment of the U.S. population is over the age of 65.  As that segment continues to age and stay in their homes, 44 million adult children are finding themselves taking on the equivalent of a second full-time job as they devote the hours needed to care for their parents. **  
  • There are approximately 7 million long-distance caregivers.  On average, they miss 15 million days of work annually.  The number of long-distance caregivers is expected to double in the next 15 years. On average, a person functions as a caregiver for four years, providing an average of 20 or more hours per week. ***
  • By 2030, there will be about 72.1 million individuals 65 or older in our society – more than double from 2000. They have an average life expectancy of an additional 18.6 years. ****  

"Harris enCircle® is an innovative, comprehensive service designed to assist clients seeking elder care solutions and is a logical extension of our commitment to serving as a trusted financial advisor," said Terry Jenkins, President and CEO, Harris Private Bank.  "Bringing the experts and information to a broader online audience is both timely and practical for boomers trying to navigate the information they need to develop their family plan."  

Harris enCircle® is located at http://www.youtube.com/user/harrisencircle.  The channel features enCircle® client specialists, advisory board members, and external subject matter experts in the field of elder care for a dialogue on integrating heath, financial, and legal planning.  

The channel will launch with information targeting individuals and families who may be addressing issues related to the care of aging loved ones.  Viewers will learn the lifecycle of creating a plan, from how to convene that first family meeting, to defining care giving roles and responsibilities.  New content will be uploaded to the channel on a regular schedule.

Current segments include:

  • Channel overview:  Dr. Alexis Abramson, author, gerontologist and Harris enCircle® Advisory Board Member.
  • Panel discussion on integrated health care, financial, and legal planning:  Dr. Sherry Kotsman, licensed clinical psychologist and executive director of Senior Bridge; Joe Monahan, elder law attorney at Monahan & Cohen and Harris enCircle® Advisory Board Member; Debbie Korompilas, Senior Vice President, Head of Trust & Estate Settlement Services at Harris Private Bank.
  • Tips on relieving caregiver guilt:  Dr. Alexis Abramson.
  • Tips on involving family members; how to have a family meeting: Dr. Alexis Abramson
  • Tips on avoiding caregiver burnout:  Dr. Alexis Abramson.
  • Tips on avoiding conflicts with aging parents:  Dr. Alexis Abramson.

"As seniors living with multiple chronic conditions represent the fastest-growing segment of our population, the act of caring for our parents as they age is perhaps the most inevitable yet least talked about complexities of our time," said Eric C. Rackow, M.D., President and CEO of Senior Bridge, a national care management agency that helps people with complex chronic health conditions remain in the comfort of their homes as long as possible.  

"Harris enCircle®'s YouTube channel responds to the clear need for a highly personalized and unbiased approach to helping boomers navigate the intricacies of elder care to ultimately improve the quality of life of their loved ones while maintaining their own well-being," he said.

"Families must initiate conversations today, talk to their parents, understand their needs and wants, and create a family plan," said Alexis Abramson, Ph.D. and advisory board member of Harris enCircle®.  "Utilizing an expert based online resource like the Harris enCircle® channel on YouTube makes it much easier to take those first steps.  Families can easily learn about the resources they need, identify how to bring other family members into the care plan, and discover how to effectively prepare for the care-giving journey."

Harris Private Bank's enCircle® service provides individuals and families across the U.S. with expert advice and integrated solutions for the complex health, legal and financial issues associated with elder care planning.

EDITOR'S NOTE:  

Sources:

*National Alliance for Caregiving, in collaboration with AARP (2004).

**MetLife Caregiving Cost Study: Productivity Losses to U.S. Business (2006).

***National Alliance for Caregiving (2010).

****Administration on Aging, U.S. Health & Human Services Dept (2010).

About Harris Private Bank

Harris Private Bank offers a comprehensive range of wealth management services that include investment advisory, trust, banking and financial planning to meet the financial needs of high net worth clients. Through integrated teams of experienced financial professionals, Harris Private Bank helps its clients realize their financial and lifestyle goals with solutions that are custom tailored and delivered with the highest level of personalized service. Harris Private Bank is a member of the Harris family of wealth management services.

About Harris

Harris is an integrated financial service organization providing more than 1.2 million personal, business and corporate clients with banking, lending, investing and wealth management solutions. The organization is a member of the BMO Financial Group (NYSE, TSX: BMO), which also provides corporate and investment banking services in the U.S. under the BMO Capital Markets name.

Harris® is a trade name used by various financial service subsidiaries of Harris Financial Corp.  Banking products and services are provided by Harris N.A., The Harris Bank, N.A. and their bank affiliates, Members FDIC.  Investment Products: ARE NOT FDIC INSURED, MAY LOSE VALUE, CARRY NO BANK GUARANTEE

Through Harris enCircle®, Harris does not engage in rendering care management services or tax preparation.  Not all products and services are offered in every state and/or location. Estate planning requires legal assistance, which Harris does not provide; consult your personal counsel.

SOURCE Harris Bank



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