Over the last several years, “financial advisors”, (a term used far too loosely in my industry as many “financial advisors” are merely salespeople fictitiously holding themselves out as something more), seemingly have not been doing a great job for their clients and their wealth. While those who know me and this firm all know quite well that that is not the case here, many prospective clients may not.
The proof I can offer is that we are doing the right job is the systems we have in place for our clients. First, our main objective is to educate our clients on how money really works! The first thing that comes to light when you work with us is that we are the only financial advisors that have an actual financial planning game board. Our clients know this game board as the Protection, Savings and Growth (PS&G) Model. Second, we are the only advisors that actually have a true financial simulator. So our clients can actually test their financial money decisions before actually making a decision. In addition, we work closely with all your other advisors. When is the last time your stock broker spoke to your car insurance agent? Most likely never! However if you over pay for car insurance, you actually reduce the growth of your stock portfolio in a macro economic sense. More money paid out comes off money paid in.
Another area of trust would be some of the products and financial services you need. Our clients know that we want to look at and review every product and financial document you own. We want to make sure that what you currently have is accomplishing what it is intended to do. You know, 90 percent of the Wills and Trust we see are out dated. Most life insurance and annuities policies have the wrong beneficiary designations. At Macro Money Concepts, you can trust us to make sure it’s right, even if we didn’t provide the product to you.
If we uncover a need during our evaluation process, and we are licensed to provide that product to you, and you decide you want me to handle that for you (our clients are never under any obligation to do business with us) rest assured that your money will be with top rated companies and financial institutions such as Western and Southern and Lafayette Life, or Penn Mutual and American National ect. They hold it, they insure it, and they report directly to you on it.
That said, I think the issue of trust is something that goes deeper than product and services. It also has a great deal to do with just how your planning and money is being handled and invested. There are a lot more hidden violations of trust in our industry that go largely unchecked, and have mostly to do with whether your “financial advisor” is working on your side of the table toward your interests or on his or her side working towards theirs. The differences are quite easy to spot once one knows what to look for. Does your advisor offer a system of checks and balances? Does your advisor charge a fee for services? Does he or she have multiple companies, products and ideas? Will your advisor give you all the time you need to ask questions? When you make a suggestion does your advisor dismiss it out of hand or research the idea first? Has he or she ever taken the time to present to you proactive tax planning strategies utilizing IRS compliant retirement plan programs and tax codes that save you money or do they merely count your proceeds “after the fact”, letting hard earned money go out the door each year?
Are any of your “financial advisors” working at a bank? And if so do you really want your money with the same people who charge unscrupulous extraneous fees, will drastically raise your interest rates on your credit cards if you miss just one payment, charge you 30 dollars or more if you overdraft your debit card, or refuse to renegotiate a mortgage and throw you out of your home if you lose your job? Can an institution that does those things really be concerned with your financial well being? Unlike many other “financial advisors” we don’t have these conflicts of interest for you to be concerned about.
If you do not succeed, then neither can we. It has always been very important to know who your advisor is. Sadly, people now more than ever are finding out why it is so important to have a “Trusted Financial Advisor and Consultant” who works for you. We are the one Financial Advisor who is truly on your side.
In closing, I want to thank those who are working with me and Macro Money Concepts. I take your trust and confidence very seriously. I want to you be able to tell everyone you know that you are working with an advisor who brings true value to you, not just another financial product. Please let me know if I can do anything to make your financial success truly something to talk about. And please do not keep me a secret!