After so many years in financial services, I’ve thought a lot, like a lot a lot, about what an ideal financial planner looks like. What can they help with? How does it feel to work with them? How much does it cost and what makes it worth it? How do I know I can trust them? What can they actually do for me and how will working together improve my life? Here’s where I’ve landed…
I want to work with someone who:
Has worked with hundreds of clients before me and has the expertise and perspective to see the opportunities and hazards in front of me, even the ones I don’t see, and the wisdom and experience to guide me through them.
Has a well-designed and thorough process to make sure we hit all of the most important elements of financial planning, but is flexible so that we can deal with what I need when I need it, too.
Understands the stage of life I’m in as a working parent of young kids, and meets me where I am, without judging me for choosing to work, or choosing not to work, or choosing a little of both as the seasons change.
Will help me clarify what’s most important to me, my core values, and use those in our work together to give me advice that’s right for me, for who I am, and not just the same canned advice they give all their clients.
Will help me keep track of all the financial things that need to get done, so I can have one less hamster running on the giant hamster wheel in my brain. (Am I the only person with a hamster wheel in her brain?!)
Will not only give me good advice but will help me take action. Because I’m busy, really busy, and I need some accountability to make progress. Not the make-me-feel-guilty kind, but the kind that is truthful and supportive and encouraging, from someone who is always in my corner.
Would rather help me find balance between using my money to enjoy life and make progress on my goals than solely focus on making me as wealthy as possible (although I wouldn’t mind becoming wealthy, too!).
Sees me as a human and not a potential commission. In fact, I want someone who is legally bound to look out for my best interest - a fiduciary. And although I want help selecting and applying for insurance if I need it, I want to know that my advisor isn’t getting a commission.
And I want to know exactly what I’m paying and what I’m getting for it. Straightforward pricing with no surprises or hidden commissions or fees. I want to work with someone who is charging a good price for what I get, enough to have a sustainable business, but not so much that I’m mad about paying it.
I want the fees for financial planning and asset management to be separate, because I’d like the choice whether to outsource my portfolio to my financial planner so I don’t have to think about it, or to do it myself if that’s what I’m into. And I want the asset management fee to be really cost effective.
That’s what I want. And that’s who I’m striving to be for my clients.