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What is The Financial Leadership™ Movement?
In short, The Financial Leadership™ Movement is a leadership initiative encouraging one member of your financial team to step-up and orchestrate the entire team of financial professionals serving a client.
At a minimum, the professionals on this financial team should be:
1. Financial Planning Subject Matter Expert
2. Insurance Planning Subject Matter Expert
3. Tax Planning Subject Matter Expert
4. Money Management Subject Matter Expert
5. Estate Planning Subject Matter Expert
It is interesting that the acronym for this team is FIT ME which is exactly what they should do for their clients.
Other financial professionals that might be included are:
The result of these comprehensive services is that you should experience a process that will:
Note: This may be the most important paragraph in the article:
What is the scarcest commodity on Planet Earth? It is not gold or diamonds or money. It is TIME! Time is what we all have too little of, yet we are willing to squander precious YEARS of it NOT achieving our goals because we are simply too lazy to do our homework on our financial lives and the advisors we choose. This is an enormous waste of human potential. You can be living Your Ideal Life much sooner that you imagine, but you must take action right now to get it on track.
The ultimate goal of this entire process is to enable you to be FREE to use your precious time in the ways that you choose on your most important priorities. The definition of true wealth is complete control over your time. Money is just an enabler of that control. The advisors job is to ensure you have all the money you need to live life exactly as you choose.
How can I afford this team of financial wizards? Isn’t this prohibitively expensive?
In a word, no. Let me explain the two reasons why the alternative is even more expensive.
1. Most people are pouring their money into a very leaky bucket.
a. From hidden investment fees to poor budgeting, poor tax planning, insurance mistakes and more, you are likely not making the smartest financial choices right now. It’s not your fault, exactly. You are a busy professional whose primary focus is on earning money and most likely your secondary focus is on your family. You simply don’t have the time or expertise to optimize your financial world effectively. All the money leaking out of your bucket can literally add up to millions of dollars over your career. If your advisor can show you how to plug the leaks in your bucket, you can easily pay the advisors’ fees with money left over for you and your goals.
b. Your advisor will educate you as you work together how to continually make smarter choices about your money. As your assets start to build you will reap a many fold increase in your wealth that will dwarf all the fees you ever pay to an advisor. They will change your financial habits and those habits will pay off over a lifetime.
2. There is a hidden secret built into the fees equation.
a. A truly great advisor will likely charge you a flat fee that will amount to about 1-2% of your assets. Notice I said FLAT FEE. It should be a fixed dollar amount per year, but if you translate it to a percentage of assets, it will come out to be about 1-2% of your assets, most likely. The secret lies in the fact that your Most Trusted Advisor will use those “money management” fees very differently. He or she will use about .5% of the fees for actual money management and re-allocate the difference into staff and subject matter experts to get your ENTIRE financial house in order.
b. So for about the same fees you would be paying to the banks or brokerage house for ONLY money management, you can get proactive comprehensive financial advice for every aspect of your financial life. It is a MUCH smarter use of your money because you will be reaping the rewards of excellence in every area of your financial life. Statistically, you are more likely to become wealthy by proactively managing every area of your financial life than you are based on market returns alone. It makes sense then, to invest in proactively managing the things directly within your control and to minimize investment fees related strictly to money management.
c. Sometimes, especially if you are a young professional with a high income and few assets, the fee will have to come directly from your income. While this may seem like an exorbitant amount of money in the moment, if you and your spouse are earning a high income (typically $250,000 or more) and have the right advisor, you will quickly see the benefits of this approach to creating long-term wealth. In other words, you may be “overpaying” for advice in the early years but with the compounding effect of that advice and your investments over time, you will be a huge winner in the long run as you will be dramatically “underpaying” in the later years because of your increased wealth and the fact that the flat fee will stay the same even though your portfolio has grown exponentially. It is almost impossible to overstate the importance of having a plan and a coach that will ensure that you stick to your plan over time.
The Real Thing
Don’t be fooled. Many advisors SAY they offer these things but have no process or timeline for making them happen. Advisors who have been trained in Truly Comprehensive Financial Services™ have a process and a timeline for implementation and will be happy to share it with you.
The first meeting begins with you experiencing a one-of-a-kind process that elicits and aligns your most deeply held values (your life priorities) your most important goals (both financial and nonfinancial) and then fully integrates every aspect of your financial life to ensure that all of these elements work together in harmony.
By delegating your financial health (finances) to a team of trusted experts, you experience big
payoffs. Delegating allows you to spend more time on the truly important areas of your life – areas that cannot be delegated. This can mean spending more quality time with family, becoming more fit and healthy, enjoying travel or hobbies, contributing more time to meaningful causes, exploring your spirituality, or whatever is most important to you.
We’ve clearly outlined in this chapter what you should be getting for the fees you pay. If your advisor is not delivering all of these things for the fees we’ve discussed, take your money and go elsewhere. It’s just that simple.
You might be asking yourself, “Where do I find the right Financial Consultant near me who charges a flat fee and will treat me fairly?” “Where can I find an advisor who can create an Integrated Aligned Overarching Strategy?” or “Where can I find an advisor who will only invest my money in proven passive investments? We suggest that you interview several. You’ll quickly learn that there are very few who are fiduciaries, believe in passive investing and have a process to create an Integrated Aligned Overarching Strategy. When you do find the right advisor, you’ll be able to relax in the knowledge that you are in the right hands and that your financial future is secure. Feel free to reach out to me with your questions. I’m committed to investor education.
Dean Kendall is a Financial Organizer in Calgary, handling all of the financial affairs for a select group of clients who value unbiased quality advice for one simple flat fee.
His book - Stop Paying Hidden Investment Fees! Click here for more information https://www.ideallifeexperience.com/Stop-Paying-Hidden-Investment-Fees
Newest book - Becoming The Champion of Your Dreams: How to Set and Achieve Your Most Important Goals Click here for more information. https://www.ideallifeexperience.com/Becoming-the-Champion-of-Your-Dreams
In addition, Dean is a 3X Canadian National # 1 Amateur, a 5X Canadian National #1 Professional BMX rider, downhill mountain biker and an avid snowboarder. He is an expert at winning. Let him show you how to win the money game. You can reach Dean at dean@ideal-life-experience.ca or Phone 403-543 -7226
©Copyright 2008 – 2022 by Dean Kendall. All rights reserved. 403-543-7226 dean@ideal-life-experience.ca