Clients come to us for technical financial and tax advice. Surprisingly, helping them define and achieve NON-financial goals is what often makes their lives more fulfilling.
Money is a means to achieving financial goals, but it is not a goal. It’s how you use your money that matters. Maybe you want to make art full time? home-school a grandchild? volunteer as a museum guide? care for a newborn grandchild for a few years?
When I tell people I’m a financial advisor, they often react by asking for my opinion on the stock market. Of course, I oblige. For the record, however, math and Excel skills are only part of my job.
The advice clients value most and that we provide is more personal and deeper. It’s help with defining NON-financial goals, which allocates assets to achieve your greatest aspirations, to accomplish what’s in your heart, what you want to be remembered for. This elevates wealth management to life planning.
Maybe the best way to describe my job is financial counseling. Technical knowledge of investing, tax and financial history are pre-requisites. Financial counseling, however, is about people, not predicting the next market turn.
It’s understandable why people ask for my opinion about the stock market, but this is to let everyone know that technical knowledge is not nearly as important in my practice as listening, understanding, and offering constructive feedback about what’s most important to you.