Solutions 4 Financial Independence: 05/24/18

Published: May. 24, 2018 at 2:52 AM EDT
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Question: My family has around $5 million and we are currently unhappy with our financial advisor because we believe he just wants to sell us investments that benefit him and also is not concerned about our own comprehensive needs. If we want to become a client of yours how do we do so?

Answer (John Halterman-Beacon Wealth Management): “I feel bad for you because I get it man, our industry is notorious for being a sales industry. I am so glad that the Department of Labor has a new fiduciary rule because I really believe that it’s time for a big change.

The one thing I will say is we follow a very detailed practical multi-step process. The very first step is we have to have a very good understanding; we call it a listening session. We invite you in, we sit down, we learn about the eight dynamics that are going to affect your family the most.

The second thing we are going to do after we have a clear understanding of everything is identify any gaps and challenges that you have that may be standing in the way of you accomplishing the things you want to accomplish.

The next thing is we are going to do the first part of your strategy, which is going to be your investment advisory and tax reduction planning. We are going to put together that part of the strategy and come to an agreement on whether that is something you feel is a value to your family.

The next step is we are going to get into a meeting where we talk about your family legacy and family protection because, as you mentioned, being comprehensive is a big deal. Then the next step we’re going to go to is what we call a summary, a wealth summary plan. We go back and we talk about all the things we did, why we did them, the steps we took and then what type of progression we need to monitor going forward.”

Question: What would the next step be?

Answer (John Halterman-Beacon Wealth Management): “You can either call our office and actually speak to someone there. They will schedule your listening session. Or you could go on our website and we have a request where you can do the same thing. Either way, whichever is most convenient for you.

It takes typically about a month to get you into that first meeting just because there’s such a high demand for what we do. But we will definitely get you in as quickly as possible.”