Compelling Reasons you Need a Financial Advisor

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Welcome to something more with Chris Boyd.

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Chris Boyd is a certified financial planner, practitioner,

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and senior vice president financial advisor at Wealth

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Enhancement Group, one of the nation's largest registered

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investment advisors.

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We call it something more because we'd like

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to talk not only about those important dollar

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and cents issues, but also the quality of

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life issues that make the money matters matter.

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Here he is, your fulfillment facilitator, your partner

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in prosperity, advising clients on Cape Cod and

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across the country.

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Here's your host, Jay Christopher Boyd.

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Hello, and welcome to another episode of something

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more with Chris Boyd.

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I'm Jeff Perry.

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I'm sitting in this week for Chris and

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I have with me my co-host Russ

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Ball.

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We're both of the AMR team of Wealth

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Enhancement Group.

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I'm in Florida.

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Russ is on Cape Cod in Massachusetts.

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It was funny because I sent you an

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article that Christine Benz from Morningstar wrote.

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I'm a big fan of hers, by the

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way, and I found out that you're a

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big fan of hers.

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I said, what do you think about this

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subject?

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You said, I just read this.

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We're on the same page with Christine Benz

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and the stuff that she writes.

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Did you read her recent book, How to

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Retire, 20 Lessons for a Happy, Successful, and

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Wealthy Retirement?

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I'm about halfway through it.

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It's good.

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It's good.

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It's all over the place because it's a

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compilation of- Separate interviews with different people

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and experts in the field.

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Honestly, I thought it was really good from

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what I've read of it.

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Some of the interviews she has there with

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people we've had on the show before, even

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recently.

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She definitely has a wealth of knowledge and

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really good about sharing that.

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We must subscribe to the same email.

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We must.

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A newsletter or something.

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I think AI figures you out.

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Everything Arthur Brooks writes or says, I click.

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Everything Christine Benz writes or says, I click.

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Jeremy Siegel.

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When you click these things enough, they feed

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them to you.

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Christine Benz is in that category for me

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of something that I think she's...

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I guess the best thing I like about

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her, and she's been on the show before

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too, she's objective.

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I don't feel like she's talking up a

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book.

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I feel like she's giving it as she

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sees it based upon her vast experience with

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Morningstar and the financial planning world.

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That's what I like.

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I hope people think that about us, that

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the show is objective.

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We're not trying to sell any certain product

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or promote any certain service.

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We're just here to give you our best

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thoughts on given issues.

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Sometimes you agree with us, sometimes you don't,

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I'm sure.

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But I try to be objective.

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I know you do, and I know Chris

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has been doing it for 18 years.

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I think that's one of the most important

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things that people should demand of their information.

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So much information out there today, however you

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want to say that, whether it's old media,

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newspapers, if there are any left, the news

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on TV, and then all the cheerleading from

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both political parties, so much of the news

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is biased towards a product, a political agenda,

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a service, whatever it is.

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So I try to demand of the things

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that I'm going to follow that it's not

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biased.

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We definitely are going to have our leanings,

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our opinions on certain things, but definitely using

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this as a more of an educational platform

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and keeping people that listen and clients up

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to date on our thoughts and what's going

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on out in the world.

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So hopefully we're aligned with Christine Benz in

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that regard.

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This article, which we'll get into, so we're

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building her up, but she deserves it.

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But we're building up, and the point is

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we're building her up, meaning we have a

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great deal of respect for her.

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She's been in this industry for decades, financial

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services, financial planning, writing about it, talking about

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it, teaching others about it.

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And the article is why I, meaning Christine

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Benz, has a financial planner.

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So it gets you thinking like, ah, she

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doesn't need a financial planner.

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Right.

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She writes about it all the time.

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She knows more than most anyone about personal

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finance and retirement.

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That's right.

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Why would she need a financial planner?

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But if you think about it, and I'm

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a retired lawyer, if I have a legal

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issue, which I hope I don't have any,

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but if I have a legal issue, I'm

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a fool to represent myself, the old saying.

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If a physician has a medical issue, you

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wouldn't think that they'd, I mean, they might

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know everything about the issue, but they're going

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to go to their doctor.

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They have a doctor and so on.

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We could keep listing professions.

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Why wouldn't a financial advisor turn to, maybe

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not every day, but turn to a financial

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planner advisor about their own plan.

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Right.

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Absolutely.

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Yeah.

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So she wrote this article.

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It's on Morningstar.

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I'll put it in the show notes of

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people.

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It's not very long, but if people want

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to read it and she has five reasons

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why, and there's more, maybe we'll go off

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on tangents.

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It's entirely possible that we do that.

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But the number one reason is also my

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number one reason.

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It's what I did.

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Number one reason is she says we wanted

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a second opinion on a few important decisions.

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I knew Chris Boyd.

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I knew the AMR team, the company at

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that time, but I was handling everything myself.

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And I was thinking of retiring from my

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full-time public service job with the sheriff's

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department, sheriff's office.

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And I had a plan and I was

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like, yeah, I think it's good.

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Me.

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Yeah.

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Right.

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Chris is a community person as a friend,

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if you will.

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And I said to my wife, Lisa, I

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said, let's go in and meet with Chris

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and get a second opinion.

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I think that's a lot of people come

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to us looking for that second opinion.

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And just, you know, you could be as

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confident as possible and you could feel like

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you've read up on it, you know what

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you're doing, but sometimes just getting that seal

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of approval or thoughts from another professional really

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helps give you that sense that, okay, I

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either I am on the right track or

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maybe I was a little bit off.

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I wasn't thinking about this in quite the

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right way.

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They'll help you find your blind spots.

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I think that's very well said.

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Help you find your blind spots because so

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many people who DIY their financial plan are

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about a number.

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Yep.

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You know, they can do math.

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I know what they spend, especially the detailed

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people, which many people are.

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I, I am, I was, I had, I

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had my plan, my numbers.

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I knew about inflation.

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You know, I thought about those things, but

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when I had my meeting with Chris, I

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was like, oh, yeah, you know, that's, that

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makes sense to think about it that way.

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And he, you know, he put a rubber

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stamp on my plan that I'm going to

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be okay.

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But he also gave me a lot of

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insights from his experience that made me think

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like, I should think, think about that.

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I should focus on that.

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I should have a, I should have a

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strategy towards that, or, you know, maybe I'm

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taking too much risk because I've had a

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high risk tolerance.

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So ultimately I became a client and ultimately

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became a member of the team.

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But you're right.

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People getting a second opinion is really important.

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It's just like a doctor, you know, they

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might know that they have a problem, but

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it makes sense not to self-diagnose.

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It's go get a second opinion.

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Yeah, exactly.

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And in Christine Ben's case, she was, she,

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you know, she said she was handling her

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investments herself or her and her husband were

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and currently are, but there were specific questions

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that she had that she thought a financial

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planner could help with.

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And that's, again, that's a lot of people

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come in looking for the answer to one

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specific question or maybe a couple specific questions

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and thinking, oh, well, you know, I have

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X amount in the bank.

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I'd like to get that working for me

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a little bit harder.

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They'll come in and they'll think, well, here's

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my problem.

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Give me a solution.

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And we want to be able to do

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that as fiduciaries to be able to give

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the entire picture, that entire context.

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How does that all fit together?

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It's not just about one problem.

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Here's your one solution.

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Let's see how everything works dynamically and together.

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So yeah.

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Yeah.

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And, you know, one of the biggest benefits

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that I receive personally and that I hope

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I provide to our clients along with the

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rest of the team is to give them

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those projections that have some testing.

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It's not just, you know, a spreadsheet.

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Well, here's how much money you're going to

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have.

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Here's how much money you're going to take.

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But testing a financial plan against things that,

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you know, when you're 60 years old and

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thinking of retiring that you're not quite zoned

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in on the what ifs of life and

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the bigger goals, you know, what do you

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want to do?

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Whether that's travel, whether that's be generous, whether

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that's help family, you know, buy a second

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house, move, relocate, whatever it is, or long

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-term care, you know, negative things that could

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happen, premature death, pension options, when to take

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Social Security, all these things that, you know,

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you know about, you might have thought about

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them or heard about them or read an

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article about them.

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But when you test your own plan against

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these things that may or may not happen,

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it's super insightful.

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And it can either give you a confidence

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to know that you are making the right

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decision to retire and the type of lifestyle,

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or it can create a pause and say,

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okay, I need to deal with that before

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I, you know, pull the plug on my

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earnings year, right?

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So second opinion on those important decisions is

274
00:10:04,230 --> 00:10:06,350
a good reason to have a financial advisor.

275
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The second reason she mentioned was, we found

276
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a business model that makes sense for our

277
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situation.

278
00:10:17,110 --> 00:10:19,670
Yeah, so different advisors will work it with

279
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under different models.

280
00:10:21,350 --> 00:10:24,530
So we're talking compensation models, basically, compensation models,

281
00:10:24,590 --> 00:10:24,930
that's right.

282
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Some firms like Wealth Enhancement, use a managed

283
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assets as the base for, you know, we're

284
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the investment advisor, we're comprehensive financial planning is

285
00:10:37,450 --> 00:10:39,590
part of that package, I guess you could

286
00:10:39,590 --> 00:10:39,810
say.

287
00:10:40,710 --> 00:10:43,850
So we handle the investment management side, but

288
00:10:43,850 --> 00:10:46,210
we also look at how everything fits together.

289
00:10:46,590 --> 00:10:48,150
You know, what should we do about Social

290
00:10:48,150 --> 00:10:48,570
Security?

291
00:10:48,570 --> 00:10:50,810
What should we do about buying this house

292
00:10:50,810 --> 00:10:51,570
down the road?

293
00:10:52,110 --> 00:10:53,710
So it's kind of a combination.

294
00:10:54,990 --> 00:10:57,490
Then there are other advisors that work on

295
00:10:57,490 --> 00:10:59,530
an hourly, you know, basis.

296
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And I think we can certainly, you know,

297
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our team does that too, time to time.

298
00:11:04,970 --> 00:11:09,150
So whether it's for a specific situation, or

299
00:11:09,150 --> 00:11:12,290
on an hourly, like a routine, like a

300
00:11:12,290 --> 00:11:14,990
monthly type thing, there are different models out

301
00:11:14,990 --> 00:11:16,810
there for financial planners.

302
00:11:17,190 --> 00:11:19,310
There are and so I love to give

303
00:11:19,310 --> 00:11:19,910
this advice.

304
00:11:20,970 --> 00:11:22,670
Sorry, you're going to hear it again.

305
00:11:22,810 --> 00:11:23,590
You've heard it before.

306
00:11:24,130 --> 00:11:26,470
Whoever you work with in the financial services

307
00:11:26,470 --> 00:11:27,990
sector, now I'm going to make that really

308
00:11:27,990 --> 00:11:30,190
broad, because a lot of, you know, there's

309
00:11:30,190 --> 00:11:33,890
no regulation on the term financial advisor or

310
00:11:33,890 --> 00:11:37,210
financial planner, like so some people who, in

311
00:11:37,210 --> 00:11:40,810
my opinion, are not broad based, holistic financial

312
00:11:40,810 --> 00:11:43,370
planners might use that term, right.

313
00:11:43,790 --> 00:11:46,010
And so I mean, if you're certified financial

314
00:11:46,010 --> 00:11:48,170
planner, that's a designation that you have to

315
00:11:48,170 --> 00:11:48,450
earn.

316
00:11:48,570 --> 00:11:50,790
And you know, everyone can't use that.

317
00:11:51,090 --> 00:11:54,110
But sometimes people involved in insurance industries might

318
00:11:54,110 --> 00:11:57,070
be presented as a financial advisor.

319
00:11:57,950 --> 00:12:00,650
And so whoever you work with in the

320
00:12:00,650 --> 00:12:03,250
financial services world, I want you to ask

321
00:12:03,250 --> 00:12:04,210
them three questions.

322
00:12:04,710 --> 00:12:07,250
One is, are you a fiduciary, you mentioned

323
00:12:07,250 --> 00:12:07,850
that word.

324
00:12:08,390 --> 00:12:10,850
And that's a legal, moral and ethical standard

325
00:12:10,850 --> 00:12:13,510
that you as the advisor will work in

326
00:12:13,510 --> 00:12:15,010
the best interest of the client.

327
00:12:15,650 --> 00:12:19,450
You don't, so you're not selling them a

328
00:12:19,450 --> 00:12:22,230
certain product, because you're paid a commission that

329
00:12:22,230 --> 00:12:23,630
is higher than other products.

330
00:12:23,930 --> 00:12:26,670
You're not promoting something that you get kickbacks

331
00:12:26,670 --> 00:12:28,990
for, without disclosing it.

332
00:12:29,450 --> 00:12:32,910
Your advice is about what is best for

333
00:12:32,910 --> 00:12:35,570
this client, and not just what might be

334
00:12:35,570 --> 00:12:38,610
suitable for a client, or something that maybe

335
00:12:38,610 --> 00:12:40,010
it's the only product that you sell.

336
00:12:40,010 --> 00:12:43,970
There are financial services companies under certain company

337
00:12:43,970 --> 00:12:47,010
names that they're only going to recommend things

338
00:12:47,010 --> 00:12:49,030
that have their title on it, their specific

339
00:12:49,030 --> 00:12:50,450
brand, if you will.

340
00:12:51,750 --> 00:12:54,410
So are you a fiduciary is number one.

341
00:12:54,590 --> 00:12:56,510
Number two is how are you compensated?

342
00:12:56,650 --> 00:12:57,910
We've just touched on this.

343
00:12:58,730 --> 00:13:00,570
The key isn't so much, I mean, you

344
00:13:00,570 --> 00:13:02,790
might prefer a different model as a consumer,

345
00:13:02,950 --> 00:13:04,810
which is your right to do so.

346
00:13:05,290 --> 00:13:07,750
The key is can that advisor that you're

347
00:13:07,750 --> 00:13:12,650
about to engage easily explain within a minute

348
00:13:12,650 --> 00:13:13,750
how you're compensated?

349
00:13:14,990 --> 00:13:17,010
Because if not, if it's like, oh, it

350
00:13:17,010 --> 00:13:20,690
depends, and here's a 42 page pamphlet that

351
00:13:20,690 --> 00:13:23,910
explains it, they should very easily be able

352
00:13:23,910 --> 00:13:25,690
to explain to you how you're compensated.

353
00:13:25,810 --> 00:13:28,190
And number three is where are your assets,

354
00:13:28,470 --> 00:13:29,970
where are your investments, where are your accounts

355
00:13:29,970 --> 00:13:30,390
held?

356
00:13:31,610 --> 00:13:35,270
And to me, I think your assets should

357
00:13:35,270 --> 00:13:37,130
be held at a third party custodian.

358
00:13:37,650 --> 00:13:39,550
So for example, how do we do it?

359
00:13:39,870 --> 00:13:42,330
So we're your financial advisors, wealth enhancement group,

360
00:13:42,370 --> 00:13:43,530
we're going to give you advice, we're going

361
00:13:43,530 --> 00:13:45,610
to give you a financial plan, we're going

362
00:13:45,610 --> 00:13:46,590
to meet with you, we're going to get

363
00:13:46,590 --> 00:13:47,270
to know you.

364
00:13:48,210 --> 00:13:50,230
And then say you have an IRA that

365
00:13:50,230 --> 00:13:52,270
you want to bring for us to manage

366
00:13:52,270 --> 00:13:52,750
for you.

367
00:13:53,790 --> 00:13:55,710
We're going to manage that, you're going to

368
00:13:55,710 --> 00:13:58,410
understand that, but that IRA isn't going to

369
00:13:58,410 --> 00:14:01,090
be held by us in our office, it's

370
00:14:01,090 --> 00:14:02,990
going to be held at a third party

371
00:14:02,990 --> 00:14:06,350
custodian, in our case, Schwab or Fidelity, for

372
00:14:06,350 --> 00:14:06,750
example.

373
00:14:07,490 --> 00:14:08,790
So if you get mad at us, if

374
00:14:08,790 --> 00:14:10,490
you want to fire us, if we ghost

375
00:14:10,490 --> 00:14:13,990
you, you know, all these things that don't

376
00:14:13,990 --> 00:14:17,870
happen often, certainly not to us, you can

377
00:14:17,870 --> 00:14:19,830
just go to Fidelity in this case, if

378
00:14:19,830 --> 00:14:21,610
that's where the funds are at and say,

379
00:14:22,070 --> 00:14:23,370
you know, I want to move my funds,

380
00:14:23,430 --> 00:14:25,150
I don't like this advisor anymore, I'm not

381
00:14:25,150 --> 00:14:27,410
as happy with their service or whatever the

382
00:14:27,410 --> 00:14:28,290
situation is.

383
00:14:28,290 --> 00:14:31,070
So are you a fiduciary?

384
00:14:31,190 --> 00:14:32,310
How are you compensated?

385
00:14:32,550 --> 00:14:34,310
And where are my assets being held?

386
00:14:34,330 --> 00:14:37,190
I think is a foundational three questions if

387
00:14:37,190 --> 00:14:38,750
you're thinking about working with an advisor or

388
00:14:38,750 --> 00:14:40,210
if you're working with an advisor and you

389
00:14:40,210 --> 00:14:42,990
don't know those questions, that's even worse, right?

390
00:14:42,990 --> 00:14:44,230
If you're working with somebody, you don't know

391
00:14:44,230 --> 00:14:46,630
the answers, but I think are appropriate to

392
00:14:46,630 --> 00:14:48,490
ask them and if they can't answer them

393
00:14:48,490 --> 00:14:53,270
quickly, succinctly and to your satisfaction, you know,

394
00:14:53,330 --> 00:14:54,870
might be time for a different advisor.

395
00:14:55,870 --> 00:14:56,690
Totally agree.

396
00:14:57,470 --> 00:15:00,370
One comment, not to be long-winded, which

397
00:15:00,370 --> 00:15:04,110
I can be, on this number two business

398
00:15:04,110 --> 00:15:07,830
model, I like the asset under management approach,

399
00:15:08,150 --> 00:15:10,370
you pay a certain fee, you know, one

400
00:15:10,370 --> 00:15:12,310
company out there, one of our competitors say,

401
00:15:12,430 --> 00:15:13,890
we make more money when you make more

402
00:15:13,890 --> 00:15:16,190
money, that kind of thing, your assets go

403
00:15:16,190 --> 00:15:17,690
up, our fee goes up.

404
00:15:18,490 --> 00:15:21,950
I like that because it doesn't detract you

405
00:15:21,950 --> 00:15:24,290
from using the full breadth of services of

406
00:15:24,290 --> 00:15:25,230
a financial advisor.

407
00:15:25,530 --> 00:15:27,330
If you have, if you agree to an

408
00:15:27,330 --> 00:15:30,910
hourly format, and it's time for an annual

409
00:15:30,910 --> 00:15:32,710
review, it's time, you have a question like,

410
00:15:32,790 --> 00:15:34,550
oh, we find the second house, how does

411
00:15:34,550 --> 00:15:36,350
it impact my financial plan?

412
00:15:37,410 --> 00:15:39,030
And these things take time.

413
00:15:39,410 --> 00:15:42,110
Some consumers will be hesitant to engage in

414
00:15:42,110 --> 00:15:45,370
seeking advice if they're being charged hourly.

415
00:15:46,730 --> 00:15:48,470
If you're just paying the fee based upon

416
00:15:48,470 --> 00:15:53,930
your assets, our clients are encouraged to reach

417
00:15:53,930 --> 00:15:55,310
out to us and it doesn't cost them

418
00:15:55,310 --> 00:15:56,970
more if they reach out to us and

419
00:15:56,970 --> 00:15:59,190
say, I'm thinking about long-term care, can

420
00:15:59,190 --> 00:16:00,270
we discuss some options?

421
00:16:00,550 --> 00:16:02,170
Do I still need my life insurance?

422
00:16:02,510 --> 00:16:03,650
When should I take Social Security?

423
00:16:04,210 --> 00:16:05,970
And the list is endless and things that

424
00:16:05,970 --> 00:16:06,850
people ask us.

425
00:16:08,410 --> 00:16:10,190
Yeah, I think the, and the amount that,

426
00:16:10,650 --> 00:16:12,970
there are studies out there that show this

427
00:16:12,970 --> 00:16:14,770
over time, the amount that can be saved

428
00:16:14,770 --> 00:16:18,310
by having that advice over time and not

429
00:16:18,310 --> 00:16:20,070
just a one-off kind of conversation.

430
00:16:20,230 --> 00:16:23,570
Because the fact is, your life is changing,

431
00:16:23,950 --> 00:16:25,150
hitting different milestones.

432
00:16:25,750 --> 00:16:28,210
Your finances are going to be different from

433
00:16:28,210 --> 00:16:30,810
one year to the next, potentially, especially as

434
00:16:30,810 --> 00:16:31,790
you get closer to retirement.

435
00:16:31,950 --> 00:16:33,690
What does that look like when you start

436
00:16:33,690 --> 00:16:35,550
moving out of a 401k and your target

437
00:16:35,550 --> 00:16:36,870
date fund or whatever it might be?

438
00:16:39,110 --> 00:16:41,690
So yeah, having the model that we work

439
00:16:41,690 --> 00:16:43,910
by, I think it's, I like to think

440
00:16:43,910 --> 00:16:45,670
of it as having an advisor and retainer

441
00:16:45,670 --> 00:16:48,110
where you can give them a call, email,

442
00:16:48,430 --> 00:16:50,550
if decisions come up, if things come up,

443
00:16:50,610 --> 00:16:51,590
you don't have to worry, oh, well, I

444
00:16:51,590 --> 00:16:53,510
have to write this check, I have to

445
00:16:53,510 --> 00:16:56,430
set up this one-hour meeting and hope

446
00:16:56,430 --> 00:16:57,570
I can get everything in in the one

447
00:16:57,570 --> 00:16:59,250
hour, that kind of thing.

448
00:16:59,990 --> 00:17:00,910
Yeah, exactly.

449
00:17:01,330 --> 00:17:02,510
And then when you get in the context

450
00:17:02,510 --> 00:17:04,569
of developing a financial plan, which we do

451
00:17:04,569 --> 00:17:07,670
for our clients, that can be multiple hours

452
00:17:07,670 --> 00:17:10,310
and people, it's part of our service we

453
00:17:10,310 --> 00:17:10,930
give to them.

454
00:17:11,050 --> 00:17:13,810
I encourage them to take advantage of spending

455
00:17:13,810 --> 00:17:15,910
the time on it, but they're spending the

456
00:17:15,910 --> 00:17:18,210
time, which is a resource, but they don't

457
00:17:18,210 --> 00:17:20,170
have to write that extra check, which is

458
00:17:20,170 --> 00:17:21,650
the model of some other people.

459
00:17:23,609 --> 00:17:25,530
So number three of the reasons that this

460
00:17:25,530 --> 00:17:29,910
financial advisor has a financial advisor, it gave

461
00:17:29,910 --> 00:17:32,110
us an impetus to get and stay organized.

462
00:17:32,710 --> 00:17:33,630
Anything about that, Russ?

463
00:17:34,730 --> 00:17:36,090
Well, I think that's huge.

464
00:17:38,930 --> 00:17:42,250
There's so many things that are vying for

465
00:17:42,250 --> 00:17:45,530
our attention out in the world, family, your

466
00:17:45,530 --> 00:17:49,710
job, things outside of work, whatever it might

467
00:17:49,710 --> 00:17:50,090
be.

468
00:17:50,870 --> 00:17:53,090
Finances are not always top of mind, and

469
00:17:53,090 --> 00:17:54,370
if they are, maybe they are for a

470
00:17:54,370 --> 00:17:56,210
week and then they're not again for another

471
00:17:56,210 --> 00:17:56,790
couple of years.

472
00:17:58,290 --> 00:17:59,390
Like tax season.

473
00:17:59,390 --> 00:18:00,670
Right, exactly.

474
00:18:00,770 --> 00:18:03,050
Like tax season or you start thinking about

475
00:18:03,050 --> 00:18:04,570
retirement and you go on a deep dive

476
00:18:04,570 --> 00:18:06,150
and you do a lot of research, but

477
00:18:06,150 --> 00:18:07,890
then it kind of fizzles off because the

478
00:18:07,890 --> 00:18:09,750
fact is there are just a lot of

479
00:18:09,750 --> 00:18:11,370
things in life that need your attention.

480
00:18:11,590 --> 00:18:15,490
So the idea of working with a financial

481
00:18:15,490 --> 00:18:19,110
planner to get organized, especially those advisors that

482
00:18:19,110 --> 00:18:22,150
start with a financial plan, because Christine Benz

483
00:18:22,150 --> 00:18:24,290
also referenced that in her article.

484
00:18:25,270 --> 00:18:27,170
She didn't think she was going to have

485
00:18:27,170 --> 00:18:30,030
a financial plan when she started, but as

486
00:18:30,030 --> 00:18:31,750
part of the process, that's what they developed

487
00:18:31,750 --> 00:18:34,550
with her and they created a framework, a

488
00:18:34,550 --> 00:18:36,430
model to reference over time.

489
00:18:37,050 --> 00:18:39,630
It's not like set it and forget it

490
00:18:39,630 --> 00:18:40,190
type of model.

491
00:18:40,710 --> 00:18:43,450
Financial plan is dynamic and things are changing

492
00:18:43,450 --> 00:18:45,010
and as things change, you could use that

493
00:18:45,010 --> 00:18:50,710
as your organizing guideline for how essentially the

494
00:18:50,710 --> 00:18:52,870
rest of your life might look from a

495
00:18:52,870 --> 00:18:53,730
financial lens.

496
00:18:54,330 --> 00:18:55,470
Yeah, absolutely.

497
00:18:55,810 --> 00:18:58,530
And it's so critical to have a written

498
00:18:58,530 --> 00:19:02,570
financial plan that you can review for a

499
00:19:02,570 --> 00:19:03,110
lot of reasons.

500
00:19:03,270 --> 00:19:05,910
First, you touched on it, but for the

501
00:19:05,910 --> 00:19:07,190
rest of your life, you have a base

502
00:19:07,190 --> 00:19:09,330
financial plan, you meet at least once a

503
00:19:09,330 --> 00:19:11,350
year with your advisor, hopefully more, but at

504
00:19:11,350 --> 00:19:13,110
least once a year, like if we don't

505
00:19:13,110 --> 00:19:15,750
hear from you, we're going to harass you

506
00:19:15,750 --> 00:19:18,030
almost to meet with us and go over

507
00:19:18,030 --> 00:19:20,070
the plan because we get the opportunity to

508
00:19:20,070 --> 00:19:21,310
say, has anything changed?

509
00:19:22,050 --> 00:19:24,190
And it may be something small, but it

510
00:19:24,190 --> 00:19:26,730
might be something substantial to your financial plan

511
00:19:26,730 --> 00:19:31,530
and life events, things change, there's illnesses, there's

512
00:19:31,530 --> 00:19:35,250
retirement, there's social security, there's the desire to

513
00:19:35,250 --> 00:19:37,850
give away money or help family and all

514
00:19:37,850 --> 00:19:41,130
these things by having a plan, an advisor

515
00:19:41,130 --> 00:19:43,810
who wrote the plan with you and understand

516
00:19:43,810 --> 00:19:46,370
you and knows you can understand what you

517
00:19:46,370 --> 00:19:48,310
want to do or what your fears are

518
00:19:48,310 --> 00:19:52,790
or what concerns or goals and test that,

519
00:19:53,030 --> 00:19:55,910
let's use the idea of a gift, rather

520
00:19:55,910 --> 00:19:58,090
than just answer a random question is, can

521
00:19:58,090 --> 00:20:01,030
I afford to pay for my granddaughter's wedding

522
00:20:01,030 --> 00:20:02,050
for $40,000?

523
00:20:03,210 --> 00:20:04,310
And just, oh yeah, that sounds like a

524
00:20:04,310 --> 00:20:06,510
good idea, you know, some random answer off

525
00:20:06,510 --> 00:20:08,510
the cuff, you can put it into the

526
00:20:08,510 --> 00:20:11,510
model, if spending an extra $40,000 in

527
00:20:11,510 --> 00:20:13,230
this given year, how does it affect your

528
00:20:13,230 --> 00:20:14,190
long term projections?

529
00:20:14,370 --> 00:20:15,930
How does it affect your goals, your cash

530
00:20:15,930 --> 00:20:16,190
flows?

531
00:20:16,930 --> 00:20:18,590
And it's so easy to do when you

532
00:20:18,590 --> 00:20:21,410
have that financial plan in place already.

533
00:20:22,410 --> 00:20:22,550
Yeah.

534
00:20:23,290 --> 00:20:25,530
On the point of getting organized as well,

535
00:20:25,650 --> 00:20:28,150
I think that's really key.

536
00:20:28,850 --> 00:20:33,310
I use a budgeting app or like a

537
00:20:33,310 --> 00:20:35,210
money tracking app for my day to day

538
00:20:35,210 --> 00:20:35,630
finances.

539
00:20:35,810 --> 00:20:37,990
And I get these ads on social media

540
00:20:37,990 --> 00:20:39,870
telling me, oh, you could save X amount

541
00:20:39,870 --> 00:20:41,730
of dollars by using this app.

542
00:20:41,830 --> 00:20:43,770
And I thought about it, I'm like, I

543
00:20:43,770 --> 00:20:45,790
probably have saved a lot of money just

544
00:20:45,790 --> 00:20:47,670
by getting my finances organized.

545
00:20:47,850 --> 00:20:48,950
By knowing, right?

546
00:20:49,230 --> 00:20:51,730
Yeah, by knowing and by tracking and by

547
00:20:51,730 --> 00:20:53,970
seeing, all right, well, like, maybe I could

548
00:20:53,970 --> 00:20:55,490
cut here, maybe I could cut there, or

549
00:20:55,490 --> 00:20:57,250
here are things I could do differently.

550
00:20:57,730 --> 00:21:00,730
Same principle applies to working with an advisor.

551
00:21:00,910 --> 00:21:02,530
It's like, once you start getting that ball

552
00:21:02,530 --> 00:21:04,490
in motion, sometimes your finances is something you

553
00:21:04,490 --> 00:21:05,450
don't want to think about.

554
00:21:05,530 --> 00:21:08,010
It's that scary thing in the closet that

555
00:21:08,010 --> 00:21:08,970
you don't want to confront.

556
00:21:09,770 --> 00:21:11,370
But once you start, we see it with

557
00:21:11,370 --> 00:21:13,030
a lot of clients where they weren't particularly

558
00:21:13,030 --> 00:21:15,110
organized with their finances when they came in.

559
00:21:15,150 --> 00:21:16,950
But when they start, they get their estate

560
00:21:16,950 --> 00:21:17,750
plan ready to go.

561
00:21:17,950 --> 00:21:21,310
They get their investments in order.

562
00:21:21,450 --> 00:21:24,290
They have one central place to see what

563
00:21:24,290 --> 00:21:25,770
their net worth is and their assets.

564
00:21:25,930 --> 00:21:28,550
And it helps you create more goals and

565
00:21:28,550 --> 00:21:30,590
visualize how these things look over time.

566
00:21:30,870 --> 00:21:33,690
So I think that is sort of a

567
00:21:33,690 --> 00:21:37,830
hidden benefit of working with advisors, getting organized

568
00:21:37,830 --> 00:21:41,410
and having that really benefit your life moving

569
00:21:41,410 --> 00:21:42,750
forward in terms of your finances.

570
00:21:43,270 --> 00:21:44,010
Yeah, exactly.

571
00:21:45,390 --> 00:21:47,370
Number four on the list of why this

572
00:21:47,370 --> 00:21:50,190
financial advisor has a financial advisor is we

573
00:21:50,190 --> 00:21:52,970
love having a succession plan.

574
00:21:55,390 --> 00:21:58,130
Yeah, I mean, a succession plan, and I

575
00:21:58,130 --> 00:22:00,910
think in this sense, she was talking about

576
00:22:00,910 --> 00:22:04,090
succession plan for her and her husband's wife

577
00:22:04,090 --> 00:22:05,670
and their finances.

578
00:22:05,990 --> 00:22:08,870
So if anything were to happen to one

579
00:22:08,870 --> 00:22:10,790
or both of them, it could be cognitive

580
00:22:10,790 --> 00:22:13,970
decline or some terrible accident, God forbid.

581
00:22:15,010 --> 00:22:17,950
There's one central place where her loved ones,

582
00:22:18,050 --> 00:22:20,610
her family members can go and get answers.

583
00:22:21,170 --> 00:22:24,470
And she mentioned that this planning firm that

584
00:22:24,470 --> 00:22:26,030
she worked with had a lot of the

585
00:22:26,030 --> 00:22:26,510
information.

586
00:22:26,750 --> 00:22:29,410
They weren't necessarily managing her assets, but they

587
00:22:29,410 --> 00:22:31,090
had the information linked to her accounts.

588
00:22:32,490 --> 00:22:34,510
So they would be the ones who had

589
00:22:34,510 --> 00:22:35,050
all the answers.

590
00:22:35,570 --> 00:22:38,850
And having that peace of mind is beneficial.

591
00:22:39,010 --> 00:22:41,310
A lot of clients come meet with us

592
00:22:41,310 --> 00:22:44,090
and they want to have that succession plan

593
00:22:44,090 --> 00:22:44,550
in place.

594
00:22:44,870 --> 00:22:47,910
If something were to happen, oftentimes it's the

595
00:22:47,910 --> 00:22:50,030
husband that's been managing the finances, could be

596
00:22:50,030 --> 00:22:50,370
the wife.

597
00:22:51,110 --> 00:22:53,870
And they're like, well, what's my husband going

598
00:22:53,870 --> 00:22:54,090
to do?

599
00:22:54,110 --> 00:22:55,510
Or what's my wife going to do when

600
00:22:55,510 --> 00:22:57,030
I'm not able to do this anymore?

601
00:22:57,110 --> 00:22:58,450
If I'm not able to manage the finances,

602
00:22:58,590 --> 00:23:00,130
I want to have some kind of plan

603
00:23:00,130 --> 00:23:02,090
in place for them to know who to

604
00:23:02,090 --> 00:23:03,610
go to and know who to trust.

605
00:23:04,630 --> 00:23:06,150
Yeah, it's super important.

606
00:23:06,350 --> 00:23:08,210
And from time to time, every family is

607
00:23:08,210 --> 00:23:08,490
different.

608
00:23:08,830 --> 00:23:11,510
So this general statement isn't meant to be

609
00:23:11,510 --> 00:23:12,010
for everyone.

610
00:23:12,570 --> 00:23:15,390
But from time to time, the client will

611
00:23:15,390 --> 00:23:17,750
want to bring their family into their financial

612
00:23:18,450 --> 00:23:19,290
planning sessions.

613
00:23:20,290 --> 00:23:24,310
Usually the goal isn't to disclose where every

614
00:23:24,310 --> 00:23:26,710
dollar is and certainly not disclose spending.

615
00:23:27,170 --> 00:23:30,710
And sometimes they want to, but most of

616
00:23:30,710 --> 00:23:31,110
the time it's not.

617
00:23:31,230 --> 00:23:34,610
It's just to explain to the people who

618
00:23:34,610 --> 00:23:35,770
are going to take care of them if

619
00:23:35,770 --> 00:23:36,730
they need it.

620
00:23:36,870 --> 00:23:39,610
And for the heirs, this is why this

621
00:23:39,610 --> 00:23:40,110
is set up.

622
00:23:40,230 --> 00:23:41,230
This is my intentions.

623
00:23:41,810 --> 00:23:44,270
This is what I'd like to happen if

624
00:23:44,270 --> 00:23:46,150
you say the power to your health care

625
00:23:46,150 --> 00:23:50,910
proxy or executive or successor trustee is doing

626
00:23:50,910 --> 00:23:52,950
work on our behalf because we need you

627
00:23:52,950 --> 00:23:53,190
to.

628
00:23:54,130 --> 00:23:56,710
This is the format and this is who

629
00:23:56,710 --> 00:23:57,210
to go to.

630
00:23:57,390 --> 00:24:00,970
And so meeting that meeting the financial planner

631
00:24:00,970 --> 00:24:04,170
as a family can add some great benefit

632
00:24:04,170 --> 00:24:07,450
to when it's time for that successor to

633
00:24:07,450 --> 00:24:07,930
step in.

634
00:24:08,450 --> 00:24:08,550
Yeah.

635
00:24:09,090 --> 00:24:10,050
Yeah, absolutely.

636
00:24:10,770 --> 00:24:13,430
The last thing that Christine Benz noted about

637
00:24:13,430 --> 00:24:16,330
why she has a financial advisor is my

638
00:24:16,330 --> 00:24:16,710
favorite.

639
00:24:17,410 --> 00:24:20,250
And it's, it's something that I didn't realize

640
00:24:20,250 --> 00:24:24,050
existed in the financial planning world and that

641
00:24:24,050 --> 00:24:25,410
clients would struggle with this.

642
00:24:25,550 --> 00:24:28,090
But number five is a third party.

643
00:24:28,330 --> 00:24:31,210
The financial advisor can help give us permission

644
00:24:31,210 --> 00:24:32,090
to spend.

645
00:24:33,830 --> 00:24:37,150
And I'm surprised that the number of clients,

646
00:24:37,270 --> 00:24:39,830
the number of people that I serve who

647
00:24:39,830 --> 00:24:42,750
are, their financial plan is solid, right?

648
00:24:42,850 --> 00:24:43,550
Not all of them.

649
00:24:44,330 --> 00:24:47,810
Their financial plan is solid and they are

650
00:24:47,810 --> 00:24:53,870
living a life that is significantly below financially.

651
00:24:54,750 --> 00:24:56,450
And that's just not mean spending.

652
00:24:56,570 --> 00:24:58,090
That could be an emotional one too.

653
00:24:59,130 --> 00:25:00,990
Where they are able to, they worked a

654
00:25:00,990 --> 00:25:02,770
long time, they were diligent savers.

655
00:25:02,950 --> 00:25:03,570
They had a budget.

656
00:25:03,750 --> 00:25:06,410
They were responsible with their spending.

657
00:25:06,550 --> 00:25:07,730
They made good choices.

658
00:25:08,590 --> 00:25:10,510
They have pensions or they don't, they have

659
00:25:10,510 --> 00:25:12,250
real estate or they don't, whatever it is,

660
00:25:12,610 --> 00:25:14,630
their financial plan, they get a good grade.

661
00:25:14,950 --> 00:25:16,750
They can spend X amount a year and

662
00:25:16,750 --> 00:25:17,270
they're not.

663
00:25:19,310 --> 00:25:21,590
And then they call and say, is it

664
00:25:21,590 --> 00:25:23,330
possible that I could have a new car

665
00:25:23,330 --> 00:25:23,970
this year?

666
00:25:24,750 --> 00:25:26,270
You know, and you look at the numbers

667
00:25:26,270 --> 00:25:31,890
and yeah, by three, you know, joking, of

668
00:25:31,890 --> 00:25:35,370
course, but so giving that it's just like

669
00:25:35,370 --> 00:25:37,230
a check, like this is a big thing.

670
00:25:37,570 --> 00:25:39,030
I use the idea of gifts because that

671
00:25:39,030 --> 00:25:41,190
comes up a lot with my clients.

672
00:25:41,190 --> 00:25:42,790
Like they're thinking about, they want to help

673
00:25:42,790 --> 00:25:45,610
a grandchild or maybe a child, or maybe

674
00:25:45,610 --> 00:25:47,090
there's a divorce in the family and they

675
00:25:47,090 --> 00:25:49,210
want to help their child who got just

676
00:25:49,210 --> 00:25:51,650
divorced, or maybe there's someone sick.

677
00:25:51,750 --> 00:25:52,610
So they're not working.

678
00:25:52,870 --> 00:25:55,030
They want to help them substantially for a

679
00:25:55,030 --> 00:25:57,010
period of time, whatever it is, the list

680
00:25:57,010 --> 00:25:58,230
is endless of life things.

681
00:25:58,230 --> 00:26:01,630
Um, but just being able to check, I

682
00:26:01,630 --> 00:26:03,810
alluded to this before, but just being able

683
00:26:03,810 --> 00:26:05,690
to check in and saying, I'm thinking of

684
00:26:05,690 --> 00:26:06,590
doing this.

685
00:26:07,170 --> 00:26:11,350
If I do this, whatever it is, am

686
00:26:11,350 --> 00:26:11,830
I okay?

687
00:26:13,270 --> 00:26:14,770
That's pretty valuable.

688
00:26:15,310 --> 00:26:18,150
Not just the financial advice, but the emotional

689
00:26:18,150 --> 00:26:18,890
side of it.

690
00:26:20,050 --> 00:26:20,650
Yeah.

691
00:26:20,810 --> 00:26:24,350
And it's interesting that people like Christine Benz,

692
00:26:24,410 --> 00:26:26,710
you know, and I've heard podcasts recently about

693
00:26:26,710 --> 00:26:29,970
this, like real experts in, uh, in this

694
00:26:29,970 --> 00:26:33,930
field, they have trouble switching from saving to,

695
00:26:33,930 --> 00:26:37,190
uh, you know, spending what that money was

696
00:26:37,190 --> 00:26:38,190
intended for.

697
00:26:38,230 --> 00:26:40,890
So you're saving for retirement and now you're

698
00:26:40,890 --> 00:26:44,130
retired, but you're not really, you know, living

699
00:26:44,130 --> 00:26:46,330
the lifestyle that you imagined that you would

700
00:26:46,330 --> 00:26:47,750
be because you're fearful.

701
00:26:47,990 --> 00:26:50,650
And, uh, it's not always that, but sometimes

702
00:26:50,650 --> 00:26:53,970
it's habit, but other times it's, I'm scared

703
00:26:53,970 --> 00:26:54,730
I'm going to run out.

704
00:26:55,070 --> 00:26:57,350
You know, uh, that's probably the biggest one

705
00:26:57,350 --> 00:26:58,230
that we see.

706
00:26:58,850 --> 00:27:02,850
And again, not to belabor the point, but,

707
00:27:03,030 --> 00:27:05,150
uh, having that financial plan, and she mentions

708
00:27:05,150 --> 00:27:06,910
it here as well, is like, you get

709
00:27:06,910 --> 00:27:10,270
to see what would happen if the market

710
00:27:10,270 --> 00:27:13,110
dropped, what would happen if taxes went up,

711
00:27:13,110 --> 00:27:16,550
if, if, uh, healthcare costs were through the

712
00:27:16,550 --> 00:27:16,830
roof.

713
00:27:16,830 --> 00:27:19,930
Um, we can, you know, model those scenarios,

714
00:27:19,930 --> 00:27:23,890
even from a conservative starting point and see

715
00:27:23,890 --> 00:27:25,010
how that would affect things.

716
00:27:25,130 --> 00:27:26,790
And if it has a dramatic effect, okay,

717
00:27:26,850 --> 00:27:28,010
then maybe there are things we need to

718
00:27:28,010 --> 00:27:28,190
do.

719
00:27:28,290 --> 00:27:30,390
If, if not, that is sort of that

720
00:27:30,390 --> 00:27:33,070
permission to be like, okay, like you're, you're

721
00:27:33,070 --> 00:27:33,910
going to be okay.

722
00:27:34,270 --> 00:27:36,410
So let's think about enjoy.

723
00:27:36,550 --> 00:27:37,770
What are the things that you would do

724
00:27:37,770 --> 00:27:39,050
and not just to spend money to spend

725
00:27:39,050 --> 00:27:40,510
money, but what are the things you would

726
00:27:40,510 --> 00:27:42,810
do to enjoy the life that you've made

727
00:27:42,810 --> 00:27:43,850
for yourself in retirement?

728
00:27:44,070 --> 00:27:45,350
Sometimes that's charitable giving.

729
00:27:45,710 --> 00:27:47,570
Sometimes that's, you know, going on the extra

730
00:27:47,570 --> 00:27:47,950
trip.

731
00:27:48,590 --> 00:27:50,350
So, you know, you name it for every

732
00:27:50,350 --> 00:27:51,450
family, it's gonna be something different.

733
00:27:51,730 --> 00:27:56,050
But, uh, one, one, uh, anecdote I'll add

734
00:27:56,050 --> 00:27:58,490
is, uh, some, so when you guys had

735
00:27:58,490 --> 00:28:01,190
recently on the show, it was, um, uh,

736
00:28:01,270 --> 00:28:02,110
is it Gilbert?

737
00:28:02,970 --> 00:28:04,710
Uh, something, something Fritz.

738
00:28:05,030 --> 00:28:05,470
Yeah.

739
00:28:05,590 --> 00:28:06,150
Fritz Gilbert.

740
00:28:06,270 --> 00:28:06,390
Yep.

741
00:28:06,530 --> 00:28:09,530
It's got a retirement manifesto.

742
00:28:09,650 --> 00:28:10,090
That's right.

743
00:28:10,150 --> 00:28:11,890
So I was listening to a podcast with

744
00:28:11,890 --> 00:28:16,110
him recently, and he was saying, uh, rather

745
00:28:16,110 --> 00:28:20,230
than reinvesting his RMDs, uh, or what's left

746
00:28:20,230 --> 00:28:21,570
of his RMDs after he spent what he

747
00:28:21,570 --> 00:28:23,410
wanted to spend, he kind of uses that

748
00:28:23,410 --> 00:28:24,510
as the benchmark.

749
00:28:24,690 --> 00:28:26,790
Like I need to use up my RMD

750
00:28:26,790 --> 00:28:27,910
to be able to spend the money.

751
00:28:28,130 --> 00:28:29,910
So whether it be, and in his case,

752
00:28:29,930 --> 00:28:31,610
he was saying the remainder he would give

753
00:28:31,610 --> 00:28:33,710
to a charity or he's, you know, he's

754
00:28:33,710 --> 00:28:36,750
running this, um, organization himself, him and his

755
00:28:36,750 --> 00:28:38,230
wife, uh, for dogs.

756
00:28:38,410 --> 00:28:41,370
So, uh, there are a whole bevy of

757
00:28:41,370 --> 00:28:42,950
things that you can do with that money,

758
00:28:42,950 --> 00:28:45,790
but being able to spend what you've worked

759
00:28:45,790 --> 00:28:48,610
so hard for, that's, that's the goal, right?

760
00:28:48,650 --> 00:28:50,370
That when you're thinking about retirement, you're thinking,

761
00:28:50,510 --> 00:28:51,470
well, I'm going to do this and that

762
00:28:51,470 --> 00:28:52,950
and the other thing, but then the fear

763
00:28:52,950 --> 00:28:54,790
steps in and the habit of, you know,

764
00:28:54,790 --> 00:28:56,190
you're used to saving, how am I going

765
00:28:56,190 --> 00:28:57,270
to be pulling from that?

766
00:28:57,430 --> 00:28:59,170
It's a hard, uh, It is a hard

767
00:28:59,170 --> 00:28:59,570
transition.

768
00:29:00,070 --> 00:29:03,290
Like you've programmed yourself for decades to save,

769
00:29:03,370 --> 00:29:07,130
save, save, and, uh, you know, limit your

770
00:29:07,130 --> 00:29:08,290
spending some level.

771
00:29:08,970 --> 00:29:13,790
Um, so I think it's super valuable, um,

772
00:29:14,010 --> 00:29:16,210
to have that plan, to test that plan

773
00:29:16,210 --> 00:29:19,250
and to get that second opinion or whatever,

774
00:29:19,250 --> 00:29:22,210
to, to ask those questions and working with

775
00:29:22,210 --> 00:29:25,310
an advisor, you have a trusted fiduciary to

776
00:29:25,310 --> 00:29:28,270
use the word again on your team, just

777
00:29:28,270 --> 00:29:30,630
like you should have a good tax person

778
00:29:30,630 --> 00:29:32,690
and a good lawyer for your estate planning,

779
00:29:33,110 --> 00:29:35,090
to have a team of professionals around you

780
00:29:35,090 --> 00:29:37,250
and turn to them in these certain times

781
00:29:37,250 --> 00:29:40,170
and check in with them regularly to make

782
00:29:40,170 --> 00:29:42,790
sure that you're, uh, you know, checking those

783
00:29:42,790 --> 00:29:44,990
boxes and you're prepared for things, but also

784
00:29:44,990 --> 00:29:47,810
that you're living the life that you're able

785
00:29:47,810 --> 00:29:48,410
to live.

786
00:29:48,790 --> 00:29:50,790
And, uh, I don't know how you put

787
00:29:50,790 --> 00:29:51,450
a price on that.

788
00:29:51,530 --> 00:29:53,370
I think it's invaluable for that peace of

789
00:29:53,370 --> 00:29:56,070
mind and that certainty that you're going to

790
00:29:56,070 --> 00:29:57,810
be okay and be able to not only

791
00:29:57,810 --> 00:30:00,970
meet your obligations, but live the life that

792
00:30:00,970 --> 00:30:01,410
you've earned.

793
00:30:02,710 --> 00:30:02,830
Yep.

794
00:30:03,690 --> 00:30:05,670
Well, if any of these things, uh, hit

795
00:30:05,670 --> 00:30:07,810
home with you, if you're wondering if you

796
00:30:07,810 --> 00:30:10,070
should get a second opinion, or if you're

797
00:30:10,070 --> 00:30:13,470
thinking about, should I have a plan?

798
00:30:13,590 --> 00:30:15,030
The answer is yes.

799
00:30:15,490 --> 00:30:17,010
Uh, we're here to help.

800
00:30:17,090 --> 00:30:18,910
We're part of the AMR team of wealth

801
00:30:18,910 --> 00:30:21,510
enhancement, and we have an office in Hyannis.

802
00:30:21,650 --> 00:30:23,350
Uh, we help clients all over the country.

803
00:30:23,350 --> 00:30:25,310
So if we can help you out, please

804
00:30:25,310 --> 00:30:26,550
don't hesitate to reach out.

805
00:30:26,910 --> 00:30:28,990
And thank you very much for listening to

806
00:30:28,990 --> 00:30:31,290
our podcasts until next week.

807
00:30:31,390 --> 00:30:33,590
Keep striving for something more.

808
00:30:34,830 --> 00:30:37,130
Thank you for listening to something more with

809
00:30:37,130 --> 00:30:39,710
Chris Boyd, call us for help, whether it's

810
00:30:39,710 --> 00:30:43,470
for financial planning or portfolio management insurance concerns,

811
00:30:43,470 --> 00:30:45,930
or those quality of life issues that make

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00:30:45,930 --> 00:30:48,730
the money matters matter, whatever's on your mind,

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00:30:48,870 --> 00:30:51,570
visit us at something more with chrisboyd.com

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00:30:51,570 --> 00:30:58,230
or call us at 866-771-8901, or

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00:30:58,230 --> 00:31:02,110
send us your questions to amr-info at

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00:31:02,110 --> 00:31:03,670
wealthenhancement.com.

817
00:31:03,870 --> 00:31:05,790
You're listening to something more with Chris Boyd,

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00:31:05,830 --> 00:31:08,430
financial talk show, wealth enhancement, advisory services, and

819
00:31:08,430 --> 00:31:10,550
Jay Christopher Boyd provide investment advice on an

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00:31:10,550 --> 00:31:11,870
individual basis to clients.

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00:31:11,870 --> 00:31:14,010
Only proper advice depends on a complete analysis

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00:31:14,010 --> 00:31:15,450
of all facts and circumstances.

823
00:31:15,450 --> 00:31:17,530
The information given on this program is general

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00:31:17,530 --> 00:31:19,570
financial comments and cannot be relied upon as

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00:31:19,570 --> 00:31:21,190
pertaining to your specific situation.

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00:31:21,370 --> 00:31:23,330
Wealth Enhancement Group cannot guarantee that using the

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00:31:23,330 --> 00:31:25,330
information from this show will generate profits or

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00:31:25,330 --> 00:31:26,450
ensure freedom from loss.

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00:31:26,670 --> 00:31:28,830
Listeners should consult their own financial advisors or

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00:31:28,830 --> 00:31:30,910
conduct their own due diligence before making any

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00:31:30,910 --> 00:31:31,670
financial decisions.