facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
Not Just Investments Thumbnail

Not Just Investments

“Why do you call yourself a financial advisor? Don’t you just do investments? Why not stockbroker or investment advisor?”

That question, from a fellow golfer after league a few weeks ago, took me aback. Yes, investment selection and review is a big part of my job, but it’s far from all I do.

I decided to think back and write down what I’ve done the last few months that isn’t just investments. I have:

  • Reviewed a long-term care policy for clients to determine if the new policy premium increase was worthwhile
  • Used tech tools available to me to craft financial plans and evaluate individual clients’ risk tolerances
  • Provided guidance about how an upcoming merger is likely to impact a client’s employment
  • Reviewed recent interest rate moves with a client and talked about what the moves mean for mortgage rates
  • Created a retirement income plan with the goal of limiting taxes while providing my client with the necessary income
  • Reviewed and discussed a client’s Social Security options
  • Discussed the benefits of various estate planning strategies in relation to their investment accounts
  • Recommended books on various financial topics to a number of clients
  • Had numerous conversations on general economic topics
  • Advised clients on how to make charitable gifts in the most efficient manner possible
  • Recommended Required Minimum Distribution withdrawal strategies to limit tax exposure
  • Strategized about how to best use the various account types available to a client’s benefit

That list – and there are more I could have included – has nothing to do with evaluating, reviewing, and purchasing specific investments.

My job as a financial advisor isn’t just about investments. Instead, it’s about creating a healthy financial life.