As we move into Fall, I wanted to take a little time to reflect on what has happened in 2016. It is truly hard to believe that it is almost October already and Fall is right around the corner. It has been a dynamic year so far in so many ways for the markets, our country, its politics and for our firm. We are truly honored to have the opportunity to provide our services and expertise to such a wonderful group of clients. While our commitment to service and delivering independent financial advice will never change, a lot has changed in 2016 at RHS Financial. All for the better I assure you as you will learn in this post.
Recently, we hired Kinga Kowalczyk as our new Office Manager. She is responsible for making things run like clockwork in our firm and keeping me in line. Her background is in financial public relations and marketing. The quality of all of our marketing and communications has increased since her arrival and you can expect to see great things in the future. She is in charge of several firm-wide initiatives that are designed to enhance the client experience at the firm and more importantly, better help our clients achieve their financial goals.
Colby Davis has matured and transcended his role as an Analyst to a Financial Advisor in his own right. He started as an Intern nearly four years ago and has helped steer the ship since. Earlier this year, he passed his FINRA Series 65 exam and has begun to bring his own clients into the firm. I sincerely enjoy signing the contracts of a new generation of clients that Colby brings into the firm. When he came on board with RHS, he had passed all three levels of the Chartered Financial Analyst (CFA) designation, however, he required three years of industry experience in order to use the designation professionally. I am pleased to announce that he recently was cleared to use the designation in business. I have never been happier to have to have business cards reprinted! Congratulations Colby.
Enough about us, this business is about you, our clients and the experience you have with us. That is where you will experience the greatest amount of change for good. Earlier this year, we implemented an overhaul of our client review process aimed at accomplishing a few more targeted issues our clients face. Our objective was to have our clients walk away from each meeting knowing a little more than they knew when they came in and understanding that they are one step closer to their financial goals.
Our client review process is our opportunity to educate you and help you understand how and why you will reach (or will not) your financial goals. As financial planning, risk vs. performance and advanced strategy is complex, we decided to break our client reviews into three different types.
The first type of review is risk vs. performance which lays out in great detail how the only thing that we can control is the amount of risk you are taking and how that may affect your portfolio returns over time. The second type of meeting is the most labor intensive and potentially most rewarding – it involves financial planning. We will ask you to update us with a great deal of information before our meeting. In the meeting we will run multiple retirement scenarios and generate probabilistic outcomes of success or failure. These meetings will help us design a long-term strategy developed specifically for you to build a framework for financial success.® Finally, we will work on advanced strategies that will enhance your understanding and experience. These areas of advanced planning will include wealth enhancement, wealth protection, customized advanced financial strategies and finally charitable giving. Wealth enhancement strategies will look into alternative investment strategies including the use of leverage, further diversification and tax loss harvesting to minimize taxes. Wealth protection strategies are designed to help prevent our client’s money from getting unjustly taken from them. Many of these strategies may involve insurance and strategic planning. Advanced strategies involve trust and estate planning as well as consulting on pension or executive benefit plans. Finally, we help our clients do more good with charitable giving planning and donor advised funds that minimize taxes and maximize good.
Our goal is not to just make changes but to change for the better. Even I am taking on a new challenge and planning to earn a new certification in January 2017 – the Certified Private Wealth Advisor (CPWA®). It is like a master’s course in financial planning. I plan on integrating what I learn into our client experience and review meeting materials to help you towards your goals. We always want you to think bigger about your personal finances and we want you to Invest With Purpose.® Change isn’t only good, it’s exciting!