This illustration depicts exactly how we go about processing each of our client’s financial situation. Before we do anything, we first setup a consultation which includes a financial assessment to gain a firm understanding. We then make sure our client is protected by identity theft protection before proceeding to financial stability. At the financial stability phase, we want to make sure our client is budgeting correctly so that their able to pay both debt & living expenses and save each month. The next stage involves financial protection or insurance. It’s critical that our clients protect their assets should they become disabled, ill, or perish. The next step is savings & investments—we want our clients to actively generate wealth by not only having a savings account but having a brokerage account where they can generate higher returns for their money through the market. Lastly estate planning is very important because our client can formulate a will and/or trust so that their assets can pass down the line.
“In my experience in the banking industry, I witnessed a customer exhaust their savings accounts (401k, IRA,) because they became disabled and needed the money to support their monthly living expenses as well as medical expenses. This situation confirmed to me why its vital that my clients obtain insurance protection, specifically disability coverage, so that they never have to deplete their savings account when an unfortunate event occurs.”