Making Dollars, Making $ense: Education, Communication, & Following the Plan


BY BRANDON JAMES, FINANCIAL ADVISOR

We have a saying here at Marzano Capital Group that “an educated client is the best type of client.” Educating our clients and potential clients on the “what” and “why” of various financial strategies is extremely important.  There are many moving parts and options to consider when it comes to financial planning, investing and insurance, so it can become overwhelming when it is not explained in a comprehensive manner.  On the flip side, it is important for our clients to educate us so that we also fully understand their situation and their goals.  Open communication is crucial to the success of a financial plan.  When we make changes or rebalance portfolios, we want clients to know what we are doing and why we are doing it.  Money and finances can be emotional.  We can remove the emotion when it comes to making those changes, and instead, make investment decisions based on logic and research.  By asking good questions and gaining a meaningful understanding of what someone wants, needs, and plans to do, we can truly be the “financial quarterback” for your family.  Often, we invest a great deal of time and effort at the beginning of a new relationship on education and identifying expectations before someone even becomes a client.  That investment of time is important to both sides, as it is the foundation of the newly established relationship.

At the end of the day, when someone hires a financial advisor to help guide them through financial options and decisions, they ultimately want the answer to the question that most everybody wants to know…” Are we going to be okay?”  Another variation of that question is: are we going to have what we need to be able to retire with the same lifestyle or better?  If not, what steps do we need to be taking today to ensure we reach all our goals?  It comes down to building a plan, frequently re-visiting the plan, updating the plan as changes are made, and most importantly, following the plan.  When you have a path to follow, it is easier to track your progress and have confidence in the fact that what you are doing is ultimately going to get you where you want to be.  Without a plan, it really is a guessing game as to how/when you will be able to retire and with how much flexibility you are going to have in those golden years.  We would welcome the opportunity to have a conversation with you and help educate you about our practice and how we can help you and your family.

 

All investing involves risk including loss of principal. No strategy ensures success or protects against loss.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Independent Advisor Alliance, a registered investment advisor. Independent Advisor Alliance and Marzano Capital Group are separate entities from LPL Financial.

 

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