There is no reason why wealth managers and financial planners can’t help everyone… There, I said it!
Why do I do it? I just simply choose to help the person who doesn’t have much.
It doesn’t make “business sense” and it definitely isn’t “profitable”, but I just cant help it. I see a person in need (of mostly education & direction) and I choose to help, regardless of how much money they have. I am often mentored and questioned as to why I do such “unprofitable” work.
Yes, in this industry working for 1% of $5,000 for a $50/annual income is considered UNPROFITABLE. It will not feed my family, and there is a lot of risk in taking time to help that type of situation.
Trust me, there have been plenty of days where I questioned what I was doing. I’ve said to myself, “this is not good business sense” or “there’s no way I can survive by continuing to do this”.
But guess what!? I’m still here & God is good!
I read a book a long time ago as a life insurance agent called, “Living a life of significance” by Joseph W. Jordan. That book helped me understand the importance of what I was doing selling life insurance, and that truth has only increased as responsibility has grown into comprehensive financial planning.
What I do is very significant. The consequence of not helping someone is of greater stress to me than helping while being “unprofitable”.
Let me explain…
Wealth and financial freedom do not create themselves! It takes discipline and action to achieve that type of position.
I’ve spent enough years in this business to know that there is a very high chance that if I don’t help a person, they may never get the real advice that they need and the consequence of that choice can be terrible.
No extra income in retirement, massive debt, no insurance for their families, poor investment allocation, beneficiary forms not updated, estate planning fails, wasted money on things not truly valued, and the list goes on and on.
Who wants that!? Not me!
I feel more comfortable shouldering the burden to make sure there is something rather than nothing. Yes, I know it isn’t good “business” & it isn’t “profitable”, but that doesn’t matter. That person deserves to be helped if they’re willing to learn.
Doing this is called “heavenly treasure” and it’s of far more value than anything else.
So, keep this in mind as you look for a financial advisor. You deserve to be helped & the consequence of you not getting help can be detrimental.
Enjoy the rest of your day!