A Relationship or a Challenge?

We all want progress, but if you’re on the wrong road, progress means doing an about turn and walking back to the right road.” – C.S. Lewis

Friend or Advisor?When successful individuals seek a financial advisor, do they want a friend or do they want someone to challenge their assumptions and let them know if they are on track financially?  While we have clients who are friends, it is certainly not necessary. In my opinion, clients come here for honest, un-conflicted advice and this trumps friendship.

In our area of the country, business and professional relationships are often outgrowths of friendships. These connections may originally be from church or the country club or even the school our children attend. While there is nothing wrong with this, per se, sometimes the underlying relationship clouds our ability to think rationally.

The primary financial issue that we see with baby boomer clients is the often large gap between what they are saving and what they will need in retirement. This problem can only be solved with honesty, not by platitudes that may come from a friend. It is sometimes our job to challenge our clients and to tell them what they are currently doing won’t work.

As the C.S. Lewis quote infers, we may need to change directions, do things differently in order to achieve our desired result. There are many roads, many paths that you can take but status quo may not be the one that will work. Up for the challenge? Ready for a real conversation?

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