Friday, September 22nd, 2017

Your Trusted Advisors

Piloting Your Finances Through Storms and Turbulence

Often people self-manage their financial affairs but realize that they may be taking unnecessary risks or missing important opportunities. As we meet, get important questions answered and build a relationship – they eventually become some of my best clients. Why? Because they’re engaged. They don’t want to “abdicate” control over their financial lives to me, but instead see me as a trusted advisor, while they are the ultimate decision maker.

You see, it’s very much like a quote I saw in a movie recently, “Every pilot needs a co-pilot, and let me tell you, it is awful nice to have someone sitting there beside you, especially when you hit some bumpy air.”

I used to have my pilot’s license and let me tell you, this statement is true! When a storm or rough patch comes up, it’s nice to not be the only one scanning the instruments with your hands on the yoke.

When it comes to finances, the last few years have been a great reminder for all of us that ‘bumpy air’ and even sudden downdrafts inevitably come. When they do, you need to have prechosen a solid plan and have expert help standing by. You see, I don’t want to eliminate your job of piloting your financial aircraft wherever you’d like to go, my question is simply this:

If you wouldn’t fly on an airliner without a “back up” pilot, doesn’t it make sense to have a financial copilot as well?

As a practical matter, here are a few questions worth considering:

  1. Has your existing investment profile been scientifically designed to avoid unnecessary risks yet achieve reasonable needed portfolio returns?
  2. Do you ever wish you had a second opinion from an expert before you make a large financial decision?
  3. If you were incapacitated could your spouse or heirs seamlessly manage your estate as well as you have?
  4. Is there going to be a “mess” left that no one thoroughly understands but you?

Again, my goal is simply to be a trusted advisor, not captain of your ship. If you feel the important role of copilot is missing in your financial plan, I’ll be the one to fill it.

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