Financial Planning

One thing that always follows New Year’s resolutions is the review of your stock portfolio, right? Lots of folks want to sit down and talk about not just the previous year, but take a look three or five years back. Then come the questions of “what have you done for me lately?” as folks look at their statements after the volatility of the last quarter. We know we need to be prepared to answer these questions, and we welcome them.

• February 17, 2019

Make sure you find the right professional as well as personal relationships.   

Seems like everyone is looking for that perfect match, especially this month, right? Whether you’ve found your soulmate, or you’re still looking, or you’ve given up, dating sites are everywhere these days. Speaking of perfect matches, when it comes to our clients, we know that, for those of you who have found us and started working with us, we probably weren’t your first love. In some cases, we weren’t the second, third, fourth or even fifth! Some of you only found us a year or two before you retired, and some didn’t walk through our doors until a year or two after you retired. 

Falling in love is a wonderful feeling, and as a financial planner, it would be great if we could craft the perfect image and message that would make everyone who reads it say, “Ah ha! That’s who I want to do business with!” Unfortunately, as anyone who’s ever ventured into the wild world of online dating will tell you, that perfect dating profile is elusive if not downright impossible to find. And, nothing we could come up with would be as entertaining as some of the ads those dating sites put out there!

So, to have a little fun this month, our staff looked around and compiled a list of our favorites that we think you’ll enjoy. From the sappy Plenty of Fish to  Match.com trying to convince you a first date could actually be like this, to the real-life couples featured by Christian Mingle to my favorite, Farmers Only – then there’s the slap-stick approach taken by Zoosk, eHarmony telling you you’ll always be a bridesmaid, and of course the world of apps like Tinder, Bumble and lots more I’m sure, that I won’t even go into. Even if you’ve already found your beloved, these are good for a laugh! 

In all seriousness though, one thing that works in any mutually beneficial relationship – whether personal or professional – is finding someone who will pay attention to you, listen to you, and with whom you have some things in common. This is why we take a team approach to financial planning. We know different personalities click differently with different people, so we will always work as a team on your behalf. 

This month, we’re going to be exploring how you will benefit when you feel you have found that perfect match with a financial planning team and other professionals. We’ll cover topics such as what you’re hoping your money can do for you, how insurance should fit into your financial plan, how frequently you should meet with your team, and how your financial planner will interact with other professionals in your life, such as attorneys and CPAs. 

If you’re already working with our team, we’re glad we found each other, and we hope you’ll pass our name along to others you think might be a good fit. For those of you who aren’t yet working with us, maybe February is the time to take that plunge and make a connection. First meetings are always free, and we’ll keep the coffee hot. 

Article by David Smyth, CLTC, Senior Partner at Family Financial Partners — a financial services firm in Lexington, Kentucky.

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• February 7, 2019

The vast majority of times when I do look at a prospective client’s portfolio, I typically see some things that didn’t happen, and some things that did happen, that I’d recommend changing up. Some of the symptoms I like to address when asked for a second opinion are as follows:

• January 24, 2019