In the latest episode of “Real Personal Finance,” we talk about when advice meets reality in financial planning, and how to find an approach that works for you.
When you first become a financial advisor, you're bursting with technical knowledge to use to help clients. But as Meg and I both matured in our careers, we found ourselves on journeys from being academic technicians to empathetic life planners. At first, we delivered financial plans with the expectation that clients would follow them to the letter, but we quickly found that most clients never got around to implementing the majority of advice.
In essence, we realized that real financial planning is messy because people are messy. Real life goes beyond theory and textbooks, with human behavior and emotional responses playing a crucial role.
Rather than fighting the messiness, it’s important that you learn how to lean into it in order to achieve more effective and fulfilling financial outcomes. Financial planning is not a one-and-done process. It requires monitoring, reflecting, and reworking as life progresses.
Meg shares one example of a time she chose to push into the messiness with a client who regularly referenced her desire to become a mother. After several years working together, the client had not taken any concrete steps toward that goal, prompting Meg to finally ask some uncomfortable questions that led to reflection and, ultimately, action.
We wrap up by discussing how to find the right type of financial planner for you. The best advisors are advocates and thinking partners who emphasize listening and open-ended questions to help you process ideas and reach your own conclusions.
Through the stories and reflections in this episode, we uncover some truly valuable insights into the human side of financial planning. By balancing technical skills with empathy and understanding, financial planners can help clients achieve more meaningful and fulfilling financial outcomes.
If you’re always wondering why your financial goals seem like they’re just out of reach, this is the episode for you!
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Meg Bartelt on LinkedIn
Stone Steps Financial
Money can be confusing—but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Are you ready to align your money with your ideal life? Connect with us at Stone Steps Financial.
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