Financial Evolution

It’s interesting how our industry has evolved over the years. Before I was born, investors turned to stockbrokers for help with buying and selling individual securities such as stocks, which are shares of ownership of companies, and bonds, which are essentially loans made by the investor to a borrower, which can be a corporation or a government entity. Then mutual funds came along, allowing investors a greater opportunity to diversify by pooling their money together into a fund rather than individually owning stocks or bonds.  A financial advisor’s job was to help an investor find a suitable mutual fund for their investment goals, considering their tolerance for risk.

Life and the rules surrounding investments got more complex and as pensions went away for many, investors needed to focus more on building portfolios for life achievements such as retirement.  This requires the added endeavor of planning, and many financial advisors became financial planners.  Financial plans came to play a significant role, but the frustration that I often heard from new clients was that they’d get a financial plan drawn up somewhere that never got updated or even fully implemented.  It’s hard to follow a static plan when your life and life around you changes.  Comprehensive wealth management takes all the above and adds a dynamic process.  Like your health, your wealth deserves ongoing assessment and effort, with a special focus on how the culmination of your financial life plays into important decisions as they arise.  Your wealth deserves check-ups, stress-tests, professional advice, and ongoing monitoring.  It’s financial evolution.         

LouAnn Schulfer of Schulfer & Associates, LLC Wealth Management can be reached at (715) 343-9600 or louann.schulfer@lpl.com TheWealthInformationLady.com  SchulferAndAssociates.com , or louann.biz

Securities and advisory services offered through LPL Financial, a Registered Investment Advisor.  Member FINRA/SIPC.