I would like to deviate just today and give a brief glimpse into the life of a financial advisor. Understanding what we do may be beneficial to those who may one day seek the services of a Certified Financial PlannerTM, or consider becoming one.
People initially come to us because they want to make sure they can pay their bills today while storing enough wealth to last throughout their lives. The responsibility to provide advice on another’s’ wealth is a sacred trust that we take very seriously. We never feel like we can spend too much time obtaining and maintaining knowledge and skills. We start each day reading market news, studying earnings reports, and reviewing world events. Before I am finished with breakfast, I am already getting emails from Jason and Jared about their morning research. I can usually expect the same barrage of ideas from them as I am heading to bed. However, as a family of CFP®s we have learned that there is so much more to what we do than just the money part.
As the work day progresses the office evolves into something quite different, and special. I might hear Jason visiting on the phone with a once brilliant client, now suffering with Alzheimer’s, about some minor issue in his life he no longer understands. Or it may be Jared helping a client with the purchase of a new car because some salesman is trying to sell them a dozen extra warranties.
We get calls from folks whose heirs may feel they are being slighted (happens frequently), or others recently divorced or widowed trying to adjust to living alone. We get asked about travel plans, home purchases and even who to vote for. We get recommendation requests for gardeners, attorneys, housekeepers and restaurants. We seem to even be the source for finding a good Pickle-ball club, or a church to attend. In all of this we are happy to help and honored that we are often the first ones they think to call. When you manage someone’s money, you can become an integral part of their entire lives.
We also deal regularly with the joys and tragedies in our client’s lives. Almost every day we send flowers, a card or candy to someone on their special day, or on a not-so-special day. We attend many weddings, receptions and funerals. One of the main reasons people come to us is because they fear running out of money. As it turns out, many times it’s not the money, but other matters that they run out of. They run out of mental capacity, health, once good family relations and other non-financial assets. It is in taking a welling interest in these other areas of life, not just money, that a true financial planner can be the most valuable and have the more rewarding experience.
Being a CFP® professional is a wonderful career which provides you a good life because it allows you to be a valuable part of providing a good life for others.
Dan Wyson, CFP® is author of “The Gold Egg,” and “21 Financial Myths” and owner of Wyson Financial/Wealth Management 375 E. Riverside Dr. St. George, UT 84790 – 435-986-9525 – Securities and Advisory services offered through Commonwealth Financial Network, member FINRA/SIPC, a registered investment advisor