Sunday, November 16, 2008

Follow-up to Financial Services

I just wanted to say thank you for anyone who participated in that little survey.

The discussion stemmed from a recent transaction I was involved in. My focus is, was and always will be doing what my clients want when they want it. I will always give sound advice, to the best of my ability. If I think someone is making a mistake, I'll simply point out all options and risks, but in the end, the client's will is law.

I firmly believe that there is a need for life insurance, particularly when none is in place. A lot of people get life insurance through work, etc, so purchasing their own policies isn't always a priority.

Some of my clients do not have the luxury of having both retirement savings in place along with life insurance. In fact, in that is the case with many of them. When they decide they want to implement an IRA or other savings plan, I am only too happy to oblige. As I said, I go with the clients' wishes, and while offering advice, I don't like to try and "strong-arm" anyone into doing things they don't agree with.

I made the statement in the office that most people would probably prefer a savings plan if forced to make a choice between that and life insurance. I would say that our little survey agreed with that statement.

The best service is the kind that provides what my clients want. Not what I want.

Would you agree?


  1. If you do not have life insurance through work, then that should be a priority before "savings". Leaving your loved ones taken care of should be first priority. Life is to short and full of twists and turns.

  2. So, should I as a single person have life insurance? I have a little through my work, but other than that....nothing. I never deemed it important since I have no spouse/kin to leave it to.

    Honestly, if you were my financial guy, I would just want you to tell me what to do. I'm not very good at this stuff. (I wish I were.)

  3. We definitely have life insurance, but decided against using a life insurance policy as our retirement savings. We had a financial advisor try to strong arm us into a VUL as a savings plan and tax shelter, but we repeatedly told him that it was not what we wanted. We almost switched advisors because he was so hard-headed about the issue. So yes, it's good to listen to your clients. Unless they're stupid. :)

  4. I think I picked life insurance, I seem to remember going with the least popular one lol

    I still have no real reasoning for it. :/

  5. I believe they're both important....but I'd pick the IRA.

  6. I agree, but I wish people were better educated in life ins, savings and retirement funds. These are all a must, now and in our futures.

  7. If something did happen to you and you had some kind of 401K or savings plan wouldn't that go to your next of kin? That is one of the reasons I picked it.


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