There is a fellow financial planner of mine who encourages the rest of us in the industry to hire financial planners for ourselves. Of course, very few take his advice. After all, it could be perceived as a mark against our expertise; if we can’t manage our own finances, how can we handle our clients’? Or, is that why the shoemaker never has any shoes?
A good lawyer knows when to seek counsel; a good financial planner should as well. My husband was confused as to why I made this decision but that’s another story…
Since I do not provide any investment or insurance products (I make my living giving people objective advice), and since most of my time is used helping clients with their finances, prospecting, networking and writing, it only made sense to hire someone to manage the investment portion of my financial picture. I have known my planner for several years, and we think so much alike that it almost was like I was doing it myself anyways.
Sitting in the client’s seat has been good for me also. I’ve forgotten how overwhelming and scary it can be, filing out all of those forms, giving over my Social Security number several times, and making the leap of faith that he will do what’s best for me. And I wondered what he would charge me. He offered me a discount, but I refused; his time and expertise are as valuable as my own.
He provided me with all of the required materials – as if I would read them. (Who reads this stuff, anyways? Oh, wait, I do- for clients.) There have been mailings of confirmations almost daily, which is getting to be a chore and is making a mess of my table/chair/island/floor (wherever they land that day).
But it’s taken care of. Someone “gets” me, knows what is important to me, and will prompt me to revisit certain issues as time passes and economic circumstances change. Oh, and he has referred a client of his to me for comprehensive financial planning. One hand really does wash the other.
Amy..wonderful to see you writing about it.. I have been hearing a lot and reading a lot about Rick Kahler doing it and he has been really on an ‘evangelist’ mode on this..
Which I think is the right thing to do..
I am seriously on the look out for a financial life planner to help me out on reaching my ‘life’ goals..
Good Work..Amy.. I really enjoy reading your blog posts a lot..It is very refreshing and follows the ‘Keep It Simple..” policy to the T. Period..