Episode 8: The Benefits of Working with a Younger Financial Advisor

There is a companion podcast for this post available. You can listen through the player above, or subscribe to our podcast on iTunesStitcher or Google Play.

If we look like we c11193684_sould be your son or daughter, then you are likely on the right track to finding a financial advisor to form a relationship with. While we may look young, that doesn’t mean we are inexperienced or harder to relate to. Let me explain:

We entered the financial planning profession during the age of the rise of the comprehensive financial planner and we’ve had the unique opportunity of learning from a team of high quality financial planners. Many firms over the last few years have emphasized the hiring and developing of young talent. Financial Symmetry is no different and has been hiring and promoting advisors from within throughout the 15 year history of the firm. Young advisors are developed through an increased level of responsibility as well as the chance to benefit from years of observing older advisors in the firm. We have seen what type of advisor we want to be and have determined what approach best fits our personality and goals. We therefore know what we want to communicate with our clients and how to do it.

Think about those you are associated with that you trust the most…likely friends and family top the list. You have built a relationship with these individuals over time and have trusted their recommendations whenever you seek their advice. I can attest that the FSI advisors strive for this type of relationship with their clients. We want to get to know you on a personal level as well as your family so we can best see and understand your financial goals.

It is also easier to relate to us than you may think. After all our parents are just a few years from retirement themselves. We have observed firsthand from them as well as their friends and co-workers what their needs and concerns involving retirement and overall financial planning include. We are accustomed to conversing and socializing with people older than us as well as our clients are accustomed to communicating and interacting with individuals of the younger generation such as their children.

Benefits of A Young Advisor

There are some common differences you will find though, but I think they actually benefit us in a way that they won’t for older advisors.

  1. Technology: Yes, the amount of time we check our phones and social media sites may be unimaginable to you. However given this new technology age, knowledge and industry influencers are right at our finger tips. Every day we learn new and innovative ways to help us serve our clients better through reading of blogs, market commentary, and even sharing and learning ideas with other financial advisors. We are able to improve our processes utilizing the latest financial industry technology in order to better serve our clients.
  1. Retirement: We aren’t retiring soon…and that’s a good thing! As a result of this when we engage in a relationship with a client, we intend it to be for the long haul. If you are closing in on your retirement and are working with an advisor who is in the same stage of life as you then “guess what?”…they are going to retire soon as well! The years prior to and immediately after retirement can be some of the most challenging years as you juggle financial decisions and you want to make sure you have a reliable advisor by your side throughout this process, not one that is thinking about their own retirement and may pass you off to a new advisor during this time of need.
  1. Passion and Knowledgeable: No client wants to feel as if they are just a number, which can often happen when there is a lull in the advisor/client relationship. With a younger advisor we are “hungry” and “passionate” and helping our clients achieve their best financial life is our primary goal.

 When you combine this passion with knowledge this can be a dynamite combination that can truly be the defining mark of an advisor/client relationship. At Financial Symmetry all of our advisors have obtained the CERTIFIED FINANCIAL PLANNER™ designation. As a result we have spent years in study, obtaining experience, and practicing in a fiduciary manner in order to engage in practices that are in the best interest of our clients.

As of 1/31/2016 there are a total of 73,852 CERTIFIED FINANCIAL PLANNERS™ with 2,682 of those residing in NC. Below is a chart showcasing how the 7 CFP®s at Financial Symmetry compare to all CFP®s from those who have provided data to the CFP Board:

 MaleFemaleAges 20-29Ages 30-39Ages 40-49Ages 50-59Ages 60-69Ages 70-79
All CFP®s77%23%4%18%24%26%18%4%
Financial Symmetry71%29%28%43%29%0%0%0%

The statistics that stand out to me is the relative younger age of all of Financial Symmetry’s advisors compared to the majority of CFP®s. This has positioned Financial Symmetry to serve our clients through a relationship that will last over a long period of time in order to provide a reliable and trustworthy advisor to guide them through their financial affairs.

A statistic that also stands out to me is that less than 4% of all CFP®s are under the age of 30. Grace Kvantas and Cameron Hendricks give Financial Symmetry two of their own.

The next generation of financial advisors are here and they are creating and strengthening relationships with clients throughout Raleigh and the surrounding Triangle area in order to best help them sort through their challenging financial affairs.
Copyright: kzenon / 123RF Stock Photo

More Like This