The value of creating relationships

This past Friday I was so fortunate to spend a couple hours with some of my favorite clients. It was a joy to finally have some good news on the portfolio returns to report to them, and needless to say, they were quite relieved. But that wasn’t the highlight.

The highlight was the conversation we had. We were able to discuss the matters most important to them, but it didn’t stop there. We were really getting to know each other even more. At one point in the conversation, Pam (not her real name) made the comment that if Plan A didn’t work out, she’d simply revert to her Plan B. However, knowing her as well as I do, and her husband, I was a little shocked at her flip remark. I asked her if she was really serious about Plan B and she replied, “Yes.” My response was an emphatic, “Oh NO you won’t!” A little wide-eyed she sheepishly asked, “Really? Why?” Knowing her, I was able to tell her, “You don’t want to do that. You’ve told me over and over that taking that route would signify defeat, and we have so many options to choose from that would thrill you. We will not slink back because it’s easy. Making a different choice that serves you better is just as simple as the making one that deflates you of your energy.” After all, they have the resources to do whatever they want with planning and proper execution at the right time. I thought her husband was going to fall off his chair.

And that’s the key folks. When working with an advisor, you need to work with one you can really talk to, trust, and reveal your true needs, wants, and wishes. Knowing Pam and Ted (another fake name), I knew that the last thing they wanted to do was return to where they had come from. My flat refusal to entertain Plan B reinforced the fact that I am on their side, working towards their achievements of their goals. Both Pam and Ted felt reenergized by the realization that there were other options and were grateful that I reminded them of all the choices they could make beside the one they didn’t want to realize. My reward was Ted telling me that his last broker never had conversations with them, he just reported to them what we was going to do without asking how they felt about any of it.

Times are difficult now and can be confusing when faced with situations we weren’t planning on. There is a bevy of choices one can make if: 1) they know what they are, and 2) have the knowledge to make an intelligent and informed choice. Working with an advisor who takes the time to really know you, understand your motivations behind your goals and fears, can alleviate useless worries and anxieties and enable the realization of your dreams if you just take the time to find the advisor that fits with you. You can find a CFP® near you through the FPA and CFP® Board of Standards links available on my Resources page. You’ll be glad you did.
Don’t hesitate to comment or contact me with any questions or concerns. Until tomorrow …have a great day and happy reading.

© 2009 Start Smart Advisor™, Inc.

For more info: Here’s the link to an FPA article on why a CFP® is the best choice when working with a financial planner: http://budurl.com/6xdp.