Good morning

It’s 5:30 this fine Wednesday morning, and I’m annoyed. (Not because I’ve again eaten too late and my stomach talked to me all night. What’s up with not being able to eat late after you reach 50?). I’m perturbed by the never-ending assault on my profession.

Full disclosure: I’m me. I like me. I want to keep feeding my family and watching Netflix. I’m biased. I believe financial advisors (in most cases) are decent, well-intentioned and freakishly hardworking people. If you meet any successful financial advisors, trust me: Each has worked many 70-hour work weeks. They would not have survived if they hadn’t.

The word on the street is that financial advisors — come closer, lean in, sit down — get … paid! What? Someone provides a service and (gulp) gets paid for it? (Next, are you gonna tell me our roads and schools aren’t provided by unicorns?)

Here’s the deal, people. Like a landscaper, masseuse, room service provider, or chef who makes my spaghetti carbonara at Armando’s, financial advisors are people providing luxuries. No one needs these things to live; they’re things we like but do not need.

Having a financial advisor to partner with on the myriad of things facing you and your financial future is also a luxury. Not everyone needs a financial advisor. I have friends who absolutely love working on their car; it’s fun for them, and they’re good at it. I, on the other hand, would rather suffer waterboarding than crawl under my car and fix a leaky doodad or broken whatchamacallit. When it comes to partnering with an advisor, I see it as a matter of time and the value placed on it.

Most of my clients are entrepreneurs. They value their time above all else. Whether consciously or not, I suspect they partner with me for two reasons:

One, they aren’t into finances. They realize they’re good at what they do, and taking time away to do something they’re not good at makes no sense financially or mentally.

Two, they’re convinced that I will — despite the fact they have to pay me — save them time and money. They believe (I think correctly) the mistakes I help them avoid and the planning I make them do are worth the cost.

In short, my services are a luxury they’re willing to pay for.

Let me be clear for the cynics: Not everyone should hire a financial advisor. For many, the math may not make sense. Maybe some like paperwork, charts, tax planning and CNBC. Others may feel the extra cost will inhibit their ability to save. These are all fair considerations.

In the end, hiring anyone to do anything that saves you time (and hopefully money) in the long run can be a trade-off — one that should be thought through.

In the meantime, I couldn’t be more serious about that spaghetti carbonara. It’s a luxury worth having, just not after 6:00 p.m.

“Time is more value than money. You can get more money, but you cannot get more time.” — Jim Rohn

 

Scott Brown, Financial Advisor

Keiron Partners

720 Rugby Street, Suite 200, Orlando, FL 32804

407-648-1881

CollegePark@RaymondJames.com

KeironPartners.com

 

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Keiron Partners is not a registered broker/dealer, nor is it affiliated with Raymond James Financial Services. Opinions expressed are those of Scott Brown and are not necessarily those of Raymond James.

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