Your are a human being. Your life is more than a math equation and this is more than a business relationship…so let’s get to know each other.
When and how I realized the industry was broken…
In January of 2014, I became a Certified Financial Planner™ professional. While I was working with my prior firm, my compensation was generated in a number of different ways, but the primary source was from commissions that were earned as a result of selling financial products such as disability insurance, life insurance, long term care insurance, and annuities. This was because like many firms, the profitability of the organization did not depend on the the delivery of competent and unbiased advice – it depended on the sale of proprietary products and the commission that those products generated.
Over time as a result of my personal experiences and exposure to what others in the industry were doing, I started to question whether or not this was the most appropriate environment to be working with a client in. I was struggling with the idea that there was a direct link between the advice that I gave and how I was compensated.
Said differently, I was only compensated when financial products were sold. This did not sit well with me because as a Certified Financial Planner™ professional, I was now held to a different set of standards and was required to take on the role of a fiduciary when working with clients – a higher standard of care than is required by a large percentage of the industry.
Pursuit of a Better Approach
After a great deal of soul searching and conducting research on the various business models that existed in the marketplace, I realized that there was only one way that I felt comfortable delivering and being compensated for financial advice. It had to be value-aligned, competent advice, delivered in a conflict-free environment – true, fee-only financial planning.
In October of 2014 I began my pursuit of building an independent financial practice with this core conviction in mind. Since that time I have served many families and have uncovered what I feel are the essential elements of a successful relationship between a family and their trusted advisor. At the end of the day, I feel that the purpose of his existence in this industry is to create a structured environment that will allow individuals and families to:
- Establish financial goals that are deeply connected to their unique personal values and life mission.
- Navigate through a process that will allow them to study their current and future expected financial position as it relates to their financial goals and gain extreme clarity on the actions that they can take to close the gap between their current reality and future desired outcome(s).
I have developed a process centered around three specific pillars of a sound wealth management framework in an effort to help families effectively manage their financial affairs:
- Centralized organization of all information that is relevant to an individual or family’s plan
- Pro-active development, measuring, and monitoring of the Balance Sheet
- Pro-active development, measuring, and monitoring of the Cash Flow Statement
By properly analyzing, strategizing, and conducting structured monitoring around these core domains over time, it creates and environment in which clients can feel confident that they are making the best possible decisions based on their unique goals and circumstances.
My vision for the future…
There are many components to my vision for the future. As it relates to this vocation, my vision is to build an organization that specializes in delivering value-aligned, competent, conflict free financial advice to Gen X and Millennials using time tested financial planning principles via an interactive, visual, and technology driven platform.
Building on this, I would like to provide leadership in thought and action centered around rebuilding a healthy, wholesome, sustainable culture and way of life for our society through the use of financial and other forms of capital.
Longer term, in an effort to transfer the my intellectual capital and the internal systems that are build over time, I hope to bring new advisors into this industry in and provide them with an opportunity to learn, grow, and succeed in a professional, ethical environment. By leveraging myself and Capital Stewardship Partners they will be able to build a successful practice of their own while loyally serving the public and catalyzing desperately needed change in the notoriously broken and conflict ridden industry sector currently referred to as “financial services”.