A Foster Group Lead Advisor and I were in a meeting with a 20-year client of Foster Group. We’ll call her Susie.
She and her husband have done a great job with their finances. They’ve saved. They’ve given money away. They’ve been aggressive in paying down debt. Frankly, they’ve taken the advice we’ve given them and run with it.
When we pulled up their financial plan on eMoney (the tool we use to help people make financial planning decisions), she looked at it and said, “Wow, that’s more than I thought we’d ever have.”
The three of us were quiet for several seconds. For whatever reason, the reality of their situation hit her in a new way. She was silent (and thankfully we were, too!) because she needed to catch her breath and think a bit about what this meant.
The other Advisor broke the silence, “Susie, I think it’s time we think about switching seats. Until now, we’ve been giving the advice, but it’s time for you to advise us. What do you want to do with the wealth you’ve accumulated?”
Susie replied, “I’m not sure. We’ve just been so focused on building it that we haven’t really thought about what it’s there for.”
It was a remarkable moment.
It didn’t take her long to jump into the seat the Advisor suggested. “We need to get back in here at the beginning of the year. We need to talk about what we want to do. And, we should schedule a meeting with our whole family next year to bring them into the conversation.”
We’d be hypocritical not to take her advice.
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