What does a financial advisor really do? What questions do clients ask?

facebooktwitterlinkedinby featherScreen Shot 2015-03-03 at 10.20.16 PMI was talking to a friend yesterday. She asked me how I was able to come up with ideas to write a daily blog? There was no profundity in my response. I simply said I think about my day; people I help, problems I solve, conversations I might hear, news I read, questions people ask. Anything and everything. Since money touches every part of our life, the field is wide open. I learn from my writing. It helps me clarify my purpose which is to help my family, clients and friends create financial health while improving their relationship with money. Financial health means different things to different people, which is forever changing because life is forever changing.

I thought it would be fun to share what issues my clients call me about during a typical single work day. Each conversation may last 5 minutes, or 60 minutes, depending on the complexity.The names have been changed. The conversations are real. Here’s how they usually begin.

Sally- Hi Jaimie. My mom received some paper work today from First Allied. She really didn’t understand what it was. She seemed quite concerned, and will be calling you today. Please help her.

Joe-  Hi Jaimie. As you know I moved a few times over the last few years. It seems like my neighbors continue to receive my financial mail. Can you help?

Jane- Hi Jaimie. I was trying to access my on line account and got locked out. It seems like I forgot my password. Can you help.

Fred-  Hi Jaimie. It’s that time of year again. Kindly send my CPA my complete Gains/Loss report from 2014. Thanks.

Susan -Hi Jaimie- Because my dad died, I would appreciate it if you could update my mom’s financial plan. We want to make sure she can generate an additional $1,000 of income a month, without taking on too much risk. Thanks.

Jack- Hi Jaimie. As you know my aunt is in a nursing home, and wants to gift my husband her home. Please research some tax effective gifting strategies.

Francois- Hi Jaimie. As a Board member, please help us research 403(B) providers for our agency.

Jill- Hi Jaimie. As you know I want to retire in 1-2 years. Please help me organize my resources and create some “what if” cash flow scenarios for me.

Carol- Hi Jaimie. I just returned from Florida. Thanks for speaking to my CPA regarding the new account I want to set up. It seems like the consensus is to fund the new investments in an IRA. Please forward me the paperwork.

In the end, I offer a highly personalized service. Many of my clients I know for years. We socialize together. I know their family members. I consider them not only as a client. I consider them as a friend. This is a much different experience than calling an 800 number and being placed on hold for 20 minutes or talking to a stranger at a bank. They know that I care and will do what ever it takes to help.

At the end of the day, I offer peace of mind in the financial jungle which can be uncaring and unfriendly. I am their financial advocate as well as their financial advisor. Being able to provide custom-designed knowledge  and wisdom in a world of overwhelming and confusing information, is part of my mission of helping my family, clients, and friends create financial health, while improving their relationship with money. Thanks for letting me share.

 

 

 

 

 

Written by Jaimie Blackman

Jaimie Blackman

Jaimie Blackman has created Sound Financial Decisions ™ powered by MoneyCapsules®, to help guide business owners through the complexities of succession planning.

Jaimie writes “Smart Succession”, a monthly column in Music Inc., and also writes a bimonthly column for Canadian Music Trades magazine. He has spoken at NAMM U Idea Center, and at Yamah’s Succession Advantage.

As a financial literacy educator he has taught at New York University and has lectured at the 92nd Street Y, Marymount Manhattan College, and CUNY.

As President of BH Wealth Management, Jaimie also helps his clients implement investment and insurance solutions which are aligned to their personal values. Visit bhwealth.com to learn more.

To subscribe to Jaimie’s Succession Success: Insights for Music Retailers, visit moneycapsules.com.

The purpose of this post is to educate. Our content should not be construed as advice. If legal, tax or other advice is required by the readers, professional advice should be sought.

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