Week 1 of Independence

This week I secured my first financial planning engagement. I’m excited about the prospects going forward. Every day I become more convinced that as advisors continue to “vend” their products to clients, the need for what I do increases. I believe there is a large segment of the market that is tired of being sold financial products. This practice has bred a healthy suspicion in the public’s mind which has created a need for my role as a “personal CFO” or “gatekeeper.” Like many of you, perhaps, I was trained in a wirehouse where finding people and selling products was the accepted way to do business. However, in my opinion this is not being client centered. We should be finding people, accessing their needs, and using products only as a means to satisfy those needs. Today, there is so much opportunity for the advisor who will truly place the client’s interests above his own. Done properly, it creates trust and instills confidence–the very thing our industry needs. I am also finding it liberating to work in an environment with no proprietary products and one that is free from the conflict of interest between client and shareholder.

I am still looking for a place to custody assets.