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Just Scratching The Surface

The Problem

#1 - The first is our GOALS

It is important to set goals and work to achieve them, however our goals are limited by our understanding. The following are things that can limit our understanding:

  • Family History - Our parents and other family members make choices and have preferences and biases that often impact our financial decisions.
  • Prior Knowledge - Over the years we frequently receive misinformation or incorrect information. That incorrect information can inhibit our ability to learn the truth.

#2 - The second is our Lack of Discipline

This probably goes without saying, yet not having some financial discipline reduces what is financially possible. The “Spend First and Save What’s Left” mentality rarely leaves anything to save. Whereas the “Save First and Spend What’s Left” approach sets the stage for people to properly fuel their financial engine

#3 Financial Advisors who underserve their clients.

  • Advisors who build a financial plan that focuses only on goals that are limited by the client’s understanding quite often only “Scratch the Surface” of what is possible. It is easy to recognize the advisors with limited knowledge.
  • Advisors that don’t utilize all financial products appropriate for their clients. Financial products exist for a purpose and are never universally wrong for every client. When an advisor misunderstands a product, they typically don’t use them.
  • Advisors who are not licensed and do not have proper experience to share an opinion on a product or offer derogatory comments on those products.
  • Advisors that focus mostly on returns without giving thought to the efficiency of the investment. For example, taxes are a simple efficiency that is often overlooked. The advisor may suggest moving an investment from one fund to another for more opportunity to see a better return, say from 6% to 8%. Yet they do not share the benefit of shifting that same investment to a tax-free account. It is possible to increase return and keep the risk level the same by simply eliminating taxes today and in the future.
  • Advisors who utilize linear returns treating all investments and financial products as one dimensional. These advisors may be unaware of products that accomplish more than one objective at a time. Advisors that understand dynamic and multi-dimensional strategies can help clients realize exponential growth.

The Solution

Schedule a planning meeting with an experienced and qualified advisor.

This qualified advisor is:

  • An advisor that is not limited in their scope of understanding financial products.
  • An advisor who has the proper licenses, knowledge and experience to properly utilize most all financial products.
  • An advisor who understands how to reduce or eliminate financial waste and build efficiency.
  • An advisor that properly utilizes multi- dimensional strategies to exponentially impact their client’s financial output.
  • A true professional who can take important and complex topics and teach their clients about them in a way that is understandable and empowering.

What First Wealth can do for you.

Take a moment and think of times that you gained new understanding and clarity about something. You moved from feeling vulnerable to becoming empowered. We find that as we educate new clients, they begin to understand more deeply the financial loss they have suffered by working on their own or with an underqualified advisor.

At First Wealth we can teach you:

  • Where you stand today and what the future may hold if you stay on the current course.
  • A vision for your maximum financial output using the same resources with the same or less risk.
  • We can help you capture waste and inefficiency.
  • We can teach you the correct information about financial products.
  • Implement products that work to accomplish more than one thing at a time.

We look forward to meeting with you to start you on your new financial path that is both informed and empowering. For more information, please contact First Wealth Financial Group.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

Just Scratching The Surface