The “Why” Behind Our Work

By: Alexander Roig, February 19, 2014

In an earlier blog post, we laid out “What We Do” at Family Financial Partners to give you a better understanding of our process. We explained how we take our client-families through a series of meetings to determine their financial needs, implement a plan, and then maintain that plan over time. If you missed last week’s column, you can view it here. This week, we would like to go a step further and focus on why we have this process in place. There are innumerable choices that you make each and every day such as where to go, what to do, and how to do it. However, the underlying reason for making any of these decisions comes down to the basic question of “Why?”. Think about the toddler who can only say a few basic words, but can’t yet form complete sentences. What is the first question that they learn to ask in a conversation? It’s “Why?”. Any time you tell them something, their retort is always “Why?”. Let’s ask that same question in regard to our financial planning relationships so that you can understand the purpose behind our actions when we work with you.

Why We Plan
If the Dot-Com collapse of 2001 and the Financial Crisis of 2008 have taught us anything, it’s that you must be proactive in planning for unexpected potholes in the road to your goals. You can’t simply buy a few investments, never look at your statements, and expect to retire with the certainty of having enough money to cover your living expenses. Rather, it is crucial to predict and calculate how much money you will need at a future date, how much money you can afford to save towards that goal, and what your risk tolerance is for investing those dollars to get from Point A to Point B. But that is just for a single goal, such as retirement. What about your other goals of sending your kids or grandchildren to college, paying off your debt, buying a vacation home, starting a new business, or managing your taxable income? You can begin to see how this puzzle goes from being a simple children’s puzzle to one that has many more pieces and is much more complex. The puzzle becomes even more complex when you factor in other possibilities, such as becoming disabled and unable to work, requiring long-term care later in life, or passing away and leaving a legacy behind Just thinking about all of life’s changes can be stressful, and that’s why it is so important to have a solid plan in place. When you allow us to help you plan and work toward your financial goals, stress is replaced with financial peace of mind. Thus, the purpose behind planning is simple: to provide you with the tools you need to have the future you want, and to put worry at bay.

Why We Educate
Making sure you are well educated about how our work helps you reach your goals is very important to us. Why? Information is power, and will empower you when it comes to making decisions about your finances. The better you understand your financial puzzle, the more confidence you will have in executing and maintaining it. Think about how most people complete a jigsaw puzzle. They open the box, spread all the pieces out so that they can see them, and then they use the picture on the box to visualize the goal as they begin putting pieces together. Financial planning is no different. The more information that we can share with you about your plan, the easier it will be for us to work together to put the pieces together. This is the entire essence of the structure laid out last week in “What We Do”.

Why We Work as a Team
At Family Financial Partners, we like to say that our clients are part of our FFP Family, and we work as a team to make sure you feel valued and receive the attention you deserve. When you pick up the phone to call us, we will take your call, and we will listen. When you send an e-mail, our team members will respond promptly. Our team has been built with the goal of servicing your needs efficiently and effectively. To that end, if you call and ask to speak to someone who is unavailable, other members of our team are ready to answer your question. You are important to us, so we work as a team to demonstrate that each and every time we are in contact with you. We have found that, when we work together, you benefit. And, after all, your satisfaction is our ultimate goal.

Why Face-to-Face?
Whenever possible, we prefer to meet with you face to face, because we want to get to know you better. This is more than a cliche or a marketing tactic; we REALLY want to get to know you. What are your hobbies? Where did you go on vacation this year? What are your children’s names? Tell us a little more about all of these and more. Business-only relationships can be superficial and oftentimes meaningless if there isn’t a personal connection. That isn’t enjoyable for anyone, and sure isn’t any fun. Which leads me to…

Why We Have Fun
Once we get to know you, we want to spend time with you outside the office. Whether that is playing golf, shooting sporting clays, tasting wine, going to Keeneland, or just having lunch, we want to experience life with you along the way. Hosting these events gives us the opportunity to show our appreciation to you for entrusting us with your hard-earned assets. Some of our best experiences have come from simply having fun with you in some of these venues, and we look forward to many more that are to come.

Why not now?
So now that you know the “why” behind our work, the only question left is “Why not take action now?”. If you have thought about meeting with us but haven’t made the time to do so, then give us a call. If you have outstanding items on your planning checklist that you need to complete, let us know how we can help. And if we have helped out you or your family, please pass along your success story to other friends and family so that we can continue putting puzzles together for you and yours.

Family Financial Partners | Growing Wealth, For Generations ™