Regrets of Two Former Financial Planners
Ten years ago, we left typical financial planning. We had come into it with high expectations. We had a high degree of success in a short period of time. And we left because we were having a crisis of conscience.
We had prepared long and hard, earning our Series 7, Series 24 and Series 65 licenses. We had built a client base doing all of the things we learned from other financial planners in our office.
And then, we abandoned the typical financial advice we had been doling out, even calling clients to let them know the advice we had given them was mistaken.
Why? Because we no longer felt that “typical” financial planning advice allowed us to do what was best for our clients.
We had come to believe that what we were telling clients was misleading at best, and at worse, flat-out WRONG.
To give you a peek behind the curtain, let us tell you what it’s like in a typical financial planning office.
Clients would come in with questions. “How much do I need to save?” “Where should I invest?” “Will I have enough money to last in retirement?”
In turn, we asked THEM questions. “When do you want to retire?” “What kind of income and lifestyle do you want?” “What’s your risk tolerance?” And thirty more questions the clients often had no way of accurately answering from where they sat.
(However, we didn’t ask them to anticipate huge stock market crashes, divorce, or spells of unwanted unemployment.)
First, the client would guess when they might want to retire, how much they could save, and so on. Then, as advisors, we would make guesses and assumptions about how much their investments might earn and what future costs, taxes, and inflation might be.
Next, we’d plug all of our guesstimates into a computer. Using our company’s impressive number-crunching, graph-generating software, we’d create impressive full-color illustrations, and deliver their “financial plan” to them in a beautiful binder.
The people who received them felt reassured that they were “on track.” They’d thank us. They’d start writing checks. And the boss would congratulate us.
But it was pure guesswork. (Theirs and ours.)
It was an insane system, all based on enormous assumptions. The questions and answers helped us build a relationship and create trust with the client, but did we deserve their trust? It’s absurd to imagine we could actually predict their future income, along with taxes, inflation, their children’s college plans, and the market!
When do assumptions hold true for 25, 30, 40+ years? Who hasn’t had their “best-laid plans” disrupted by realities they didn’t see coming?
Often a bit nervous about the future, most clients were relieved to get advice and followed recommendations willingly… even if the recommendations mostly consisted of putting money in the stock market every month and hoping it all works out.
But inside, we knew we couldn’t guarantee their financial success any more than we could guarantee the weather.
We knew we were giving people false hopes, and telling them things that we had no business telling them.
And we just couldn’t do it anymore.
This is our story of why we turned our business model upside down, abandoned our Series 7 and Series 24 licenses we had worked so hard to earn, and why we struck out on our own and no longer manage assets or sell mutual funds.
This eBook is also an introduction to the Infinite Banking Concept, which is a true alternative to Financial Planning. Infinite Banking is a set of concepts, philosophies, and strategies that WORK; the ones used by many wealthy people we have known and observed.
Your banker and your financial planner will never tell you the information we are about to share with you.
They probably don’t even KNOW it – or understand it – to begin with. (And let’s be honest – most of the people doing “financial planning” are essentially salespeople.)
Financial planners may be well-educated and they may have many letters after their names. (We know we were and we did.) They may even charge a fee for their advice. But they’re operating from a skewed, limited perspective, which is what we had to come to terms with.
We came to realize that perhaps we were just well-taught to believe in (and not question) the products and strategies we were selling… and we were not taught that there were other options. Better options.
We had to go searching, but when we did, we discovered those better options. They were the concepts and strategies that have helped people build sustainable wealth for many decades, even centuries… long before “Financial Planning” even existed.
We’ll share more about that alternative and why we found it necessary in the first place, but first… Let us say how grateful we are that you’ve found your way to this eBook! We truly hope this little book and the resources that follow will allow you to see things a little (or perhaps a lot) differently.
And before we go onto the next chapter, we have a few simple requests to make.
First, we encourage you to read this entire eBook, right now, or at least within the next 24 hours. Whether this perspective is new to you or whether it’s just a reminder of what you already know, we encourage you to not let the price of this information (free) dilute its value.
Secondly, we ask that you keep an open mind if (or when) the information we present contradicts with what you already believe or know. Try on the ideas, do your own research, and consider if there might not be other alternatives worth trying than “typical” financial strategies and advice.
Lastly, please, don’t “just” read this eBook. Take action. Your money and your future depend on it. Whether you decide to work with us or someone else, we ask that you do something to improve your financial situation. It’s a journey worth taking.
And if you read this eBook and decide that Infinite Banking makes more sense than typical financial planning, you’ll want to contact us to find out how you can align your finances for greater success.
If you’re tired of crossing your fingers and hoping that the stock market doesn’t crash, but don’t know what else to do, we just may have the answers you’re looking for.
We’re taking back our thinking and our money from the institutions and corporations that too often put their own best interests first.
We represent a different path to financial independence… a less-traveled yet proven path that will help you build wealth with greater confidence, more certainty, and less worry. We advocate this alternative path because the truth of the matter is this:
Typical financial planning and advice has failed us.
To download the entire eBook, see below: