We strive to be a breath of fresh air in the financial services profession. Money is a sensitive topic and it demands an environment where folks feel empowered and at ease. Too often I hear that people felt intimidated by their encounters with advisors in the past. Led through mahogany offices with stock tickers running on the flat screen, they found themselves sitting in a very much buttoned-up office expecting to be judged. For those of you with a mischievous past, think back to the principal’s office.
Worse than expecting to be judged, many folks who engage an advisor in these environments are judged. They leave feeling beaten up, regretting their past financial decisions, and having been told how much they should save, how much they should spend, and how long they should work. Instead of being engaged and empowered by their finances, they are often more overwhelmed then ever and certainly no more educated.
At Mackey Advisors™ we pitch that approach right out the window from day one. When someone reaches out to an advisor there is usually a reason why it’s become a good time to talk about finances. That is where the conversation starts. We think of ourselves as excellent advisors, but at this point we have no more a clue how much one should spend or save than they do. We work together with clients so they can discover what is “enough” for them and what will make them feel and be prosperous today, tomorrow, and twenty years from now.
Once this clarity is achieved, goals become more fluid and we have the basis we need as advisors to make sure the goals can be met. For every action in one’s financial life there is a why that has been answered. When questions are answered, confidence can rule the day and the barrier that can stand between finances and happiness dissolves. With visibility and accountability in our financial lives choices can be made with confidence and enjoyed. For instance, it does no good to make the decision to travel to Europe if the whole time you are there the back of your mind is filled with fear over whether you should have spent the money.
It also means one of the scariest parts of our money life…investing…begins to have real meaning. Instead of worrying about achieving an exact dollar amount at some point or getting an average rate of return, you can relax. In the traditional financial advisor world these are the focus. In our world building a portfolio that meets your goals and all the “cool” things you want to do in life is paramount over an arbitrary number.
As individuals and families you have to do what is right for you regarding your finances, but I urge you and challenge you to be bold and be willing to get personal. Surround yourself with the best coaches and resources you can and create your own financial path instead submitting to one created for you.