By Trina Odd, Financial Advisor at Spire Advisors of Assante Capital Management Ltd.
At Spire Advisors, our goal is to help you achieve your goals and dreams—which means putting your best interests at heart. When we work with you, our first step is to assess your individual situation and put ourselves directly in your shoes.
A couple of years ago, Jerry called me looking for some advice on what to do with her pension buyout. She needed to make a decision fairly quickly, as the options available to her had “expiry dates” attached to them. Jerry made it clear to me that she was gathering opinions from several different advisors, in order to find the right person to give her the best advice.
Over the course of our first meeting, I took the time to learn her circumstances, as well as her likes, dislikes, investment knowledge, her history, and more. Initiating this process is how I “start the conversation” with all my prospective clients; and this introductory conversation does not include any discussion about plans or options.
In order to give proper guidance, my first priority is developing a thorough knowledge of a person and their situation—however, I feel that prospects should get to know me as well, in order to feel comfortable. This makes honest communication vital. I encouraged Jerry to ask me as many questions about myself and our team as she liked, in order to set her expectations.
I didn’t discuss financial strategy with Jerry until our second meeting, during which we specifically addressed what Assante offers in the way of diversified products and our ability to find one that would best suit her goals, her dreams, and her situation.
While the first meeting was important for getting to know each other, our second meeting was more about getting to know Assante, and what it means to be an independent advisor of Assante Capital Management Ltd.
Our ability to find the right solutions for our clients without being restricted to a “limited shelf” of products made Jerry feel confident that my recommendations would be more precisely tailored to her needs. At this time, Jerry provided me with the details I required in order to prioritize her best interests while I formulated the right recommendations for her.
I didn’t discuss Jerry’s options with her until our third meeting.
This three-meeting process of truly getting to know Jerry (and her circumstances) allowed me to present the pros and cons of each avenue available to her. I also ensured that she was fully aware of any risks associated with each potential decision. We were able to thoroughly discuss her choices, as we weighed them with her risk tolerances, her goals, and her long-term dreams.
The end result was that Jerry was able to make a strong, confident decision about what would suit her best, free of any doubts or second guesses.
We revisit Jerry’s plan annually to ensure we stay on track by making any necessary adjustments; and to this day, Jerry remains thankful for the time we invested in her “discovery” process.
As the years pass, Jerry remains confident and happy in the fact that the foundation for the decision she made was rooted in a deep knowledge of her situation—and that it was truly in her best interests.
If you’re facing a decision that requires financial advice and planning specifically tailored to your needs, reach out to one of our advisors in Huntsville, Powassan, North Bay, Orillia or Parry Sound. Let us take the time to learn (and prioritize) what is best for you, to help you achieve your goals and dreams.
Article written by Trina Odd, Financial Advisor at Spire Advisors of Assante Capital Management Ltd.
*The case study mentioned in this article is based on actual scenarios but names and identifying details have been changed to protect the privacy of individuals. The case study is provided for illustrative purposes only to provide an example of our process and methodology. Past performance does not guarantee future results. The results portrayed in this case study are not representative of all of our clients’ experiences. Different types of investments involve varying degrees of risk, and actual results may vary materially than those portrayed herein. Therefore, it should not be assumed that the future results of any specific investment or investment strategy (including the investments and/or investment strategies recommended or undertaken in this article) will be profitable or equal the results portrayed herein. An individual’s experience may vary based on his or her individual circumstances and current/future market conditions, and there can be no assurance that any client will achieve similar results in comparable situations. The information contained herein should not be construed as personalized investment advice. Please contact us for additional information with respect to the strategies and/or investments described herein.
*Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see a professional advisor for individual financial advice based on your personal circumstances.
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