Ep 151: Meet the Parkers: A Case Study for Whether or Not You Need an Advisor
We get the question quite a lot about whether someone needs a financial advisor so Dan Cuprill shares a real-life example of a couple he worked with to provide a case study for how the process plays out. We’ll call them the Parkers, and we’ll walk through their first meeting, goals, needs, and how we decided they were a fit for an advisor.----more----
0:50 – Why it’s so important to have a plan and why we’re talking about that on this episode.
3:03 – Why I don’t off my advisor services to everyone.
3:55 – Are you prepared to stick to the plan through the ups and downs?
4:54 – Let’s take you through a case study using actual clients. We’ll call them the Parkers.
5:23 – Who are the Parkers?
7:46 – This is the question I start off by asking every potential client that comes into the office and what I found out about the Parkers.
10:05 – There was fear from the Parkers despite having a sizeable net worth.
11:04 – Here’s where a good financial comes in to play.
11:50 – Here are their goals for retirement but they had an issue with their children.
15:14 – Another big issue is they have family in a nursing home with Alzheimer’s and they don’t want to burden their children with that.
17:06 – Another interesting thing that came up in our discussion was the use of annuities and whether they should utilize them.
21:38 – If a client is just about the numbers, we’re not the firm for them. Those are irrational expectations.
22:51 – The Parkers were seeking peace of mind and a sense of freedom. That’s who can benefit from holistic planning.
24:03 – This is where your plan needs to focus.
25:45 – We had a design meeting with the Parkers to let them decide if their current plan met their needs. Once that was done, we then wrote the plan.
Read more here: https://www.moneyandclarity.com/2019/09/ep-151-meet-the-parkers-a-case-study-for-whether-or-not-you-need-an-advisor/
Ep 159: Obsolete Retirement Planning Ideas
Ep 158: What Financial Challenges Do Women Face More Often?
Ep 157: Retirement Ready – Are You Clinging to False Hope?
Ep 156: Choosing Between A Traditional Or Roth IRA
Ep 155: Are You Paying Enough Attention to Your Largest Assets?
Ep 154: Is The Market Response To Coronavirus Normal?
Ep 153: Coronavirus and Solid Financial Truths
Ep 152: Meet the New Host Nikki Earley
Ep 150: I’m Dead, Now What? Preparing Yourself for Estate Planning
Ep 149: Social Insecurity: What You Need to Consider When Filing for Social Security
Ep 148: Stupid Questions?
Ep 147: The Bern Is Back
Ep 146: Dealing With Death
Ep 145: The Right Reasons To Hire A Financial Advisor
Ep # 144: Dealing With Disappointment
Ep #143: Your Portfolio Stinks
Ep #142: Budgets For People Who Hate Budgets
Ep #141: In Defense of Debt
Ep #140: Getting Old Stinks
The Dave Ramsey Show
The Clark Howard Podcast
Real Vision: Finance, Business & The Global Economy
Mad Money w/ Jim Cramer