Long View Summer Reads
Signal vs. Noise: Great Companies Don’t Always Make for Great Investments. The Evidence Around IPOs.
Beyond the Number
A Book That Changed How I Think About Aging
What Happens When the Noise Gets Quiet
Tag: client service
5 Tips for a Winning Financial Planning Session
Have you ever sat in your car in the parking lot after visiting the doctor for your annual physical and said to yourself, “Oh, I forgot to ask the doctor about X…Now it’s too late”?
We’ve all had those moments where more formal preparation would have made our meetings with doctors, lawyers, contractors, etc., more productive and valuable. Meeting with your financial advisor is no different. Preparation before your regular review can help you and the advisor. Here are five basic steps to help you prepare for the next meeting with your Hill client service advisor.
| ACTION STEP | WHY IT’S IMPORTANT | |
| 1 | Clear out other distractions before your meeting. | You are busy with a personal and professional life. But your review meeting is important, and you want to resist the urge to “squeeze it in.” Holding the meeting when all parties are mentally present is critical. Don’t hesitate to change the meeting date if need be. |
| 2 | Review the summary and actions from the last time you met with us. | This will help jog your memory. Your meetings should have continuity without that feeling of starting over. |
| 3 | Reflect on any changes in your family, priorities, spending, employment, and key milestones/events during the past year and ones that you already know will occur in the future. | Your financial plan is unique to you and your family. Sound advice depends upon a context – your life. The more Hill knows about your situation, the more tailored and thoughtful the conversation will be. |
| 4 | Review the agenda sent before the meeting and suggest additions or mark up with your notes. | Your review meeting is for you, and the agenda should reflect your priorities. This will ensure your time is focused on topics that are vital to you and your family. |
| 5 | Draft and bring along any questions and topics you’d like to hear more about. | Formally writing down questions ensures you don’t leave the meeting with that lingering question or topic. |
Years ago, when I taught leadership classes, one of my favorite quotes was from the Tanzanian marathoner Juma Ikangaa, who said, “The will to win means nothing without the will to prepare.” Okay, your financial review may not require the same sacrifice as training for a marathon, but taking these five steps can make you feel like your next review is a real win for you and your family.
The Importance of Tracking Goals
One of my favorite parts of my job is talking to our clients about their goals. Sometimes their objectives are specifically related to money; at other times, not as much. Either way, understanding where clients want to go (their goals) allows us to help them get there (through careful planning).
In my family’s case, one goal we have set is to see our hometown St. Louis Cardinals play in a different city each summer. This is usually my favorite yearly trip. A few weeks ago, we had an opportunity to go to Chicago to see the Cardinals play the White Sox. We spent time on Michigan Avenue, Navy Pier, and other “tourist” spots. We were also fortunate to see our Cardinals pull out a 3-0 victory.
This year’s trip was especially memorable because we combined it with visiting some of our favorite long-time clients, Larry Baumann and Dana Brehm. While not from Chicago, Larry and Dana made it their goal years ago to have a place in Chicago. After they both retired, they realized that goal and have a beautiful home there.
Numerous studies have shown that making your goals known to others increases your odds of achieving them. We love doing our part in helping clients achieve their goals. And if you aren’t tracking your goals, please let us know. We’d be happy to help.
Welcome, Jacob Brydels!
Please join us in welcoming Jacob Brydels, our newest Associate Advisor. Jacob started with us in early May and brought a unique skill set that will complement our team well.
Jacob Brydels finds his passion in helping others plan for their future. He brings six years of client service experience at Moneta and St Louis Trust & Family Office. Jacob graduated from Missouri State University, receiving his Bachelor of Science in Accounting. He started his career in accounting and non-profit roles before identifying his true passion, personal financial planning. Jacob’s attention to detail and skill in listening to client’s needs make him a great addition to the HIG team.
*Learn more about Jacob in the near future when we post his bio to our team page on the web site.
