August 20

Coffee with Mike – What Do You Actually Need to Know?

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Q: I’m a young professional and I just don't have the time required to understand the financial world as well as you do, as well as you may want me to, so how do we go about our relationship? 

A: The question is, do you want to be in power of the relationships you have with your advisors? That’s the question. Do you want them to be in power or do you want to be in power? 

-“I’d like to be in power”- 

So, it's more than just saying yes or no. It's more than just making a decision about, do you continue with them? What it's really about is are we all working together to achieve what's best for you in the way that's best to go about it at this particular time based on everything that we know? 

It's not about becoming a financial planner, becoming a CFP, Certified Financial Planner, or you know, pretending that you're a professional at something when you're not. It's not about that. It's just, how much do you need to know to make a decision? Whatever that is, that's my job- to help figure out how much do you need to know to make a good decision that's right for you and for your family. That gives you power. 

If we keep doing that again and again and again, as time goes on, as different decisions become necessary, then you're going to know that we're doing things that are in your best interest. You're going to know that you're making progress, and you're going to feel the power that you have to be able to shape and form this relationship into more of what you want it to be, and to affirm that relationship as it is so that you can continue to work with the advisor as you feel it's best.

"...how much do you need to know to make a decision? Whatever that is, that's my job..."

That's all we're talking about is giving you the opportunity for the power. It's not about going back to school, it's not about getting another degree, it's just taking a little bit of time a little bit of your time to know enough to make a decision and why that's the best decision for you. That's what gives you the power. 

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