Monument Wealth Management Articles
Don’t Settle for Generic Wealth Advice
Share on your favorite platform, or by email
A few months ago, I welcomed my first puppy, Banjo, into my home and let me tell you – he’s an adorable handful! Like most new pet parents, I was excited to embark on this adventure. I also had a lot of questions: Is my puppy healthy? What are the best ways to protect him from risks? And is his incessant night yowling really considered normal? (Unfortunately for me and my neighbors, the answer to the last question was a resounding yes.)
As a financial planner, I understand the importance of finding the right professional to help answer your questions and guide you towards your goals. So, when I was trying to find a veterinarian for Banjo, I knew that I wanted to be treated as a partner in making decisions about my puppy’s health and future. I wanted to learn about what options existed to solve my problems and to understand why recommendations are being made. That’s why I figured it would be sensible to reach out to friends and family for recommendations before making Banjo’s first vet appointment.
I eventually scheduled an appointment with the local clinic of a well-known national chain that had been mentioned by a few of my connections. I thought they would deliver on their value proposition of a convenient, accessible, and smooth customer experience, which is exactly what I look for as a consumer. I spent some time researching what to expect and went into Banjo’s appointment with high hopes and a list of questions that I was excited to gain clarity on. Unfortunately, that clarity never came.
After a rushed phone call with an uninterested vet who seemed irked whenever I attempted to ask a question, I was blindsided by a bill three times higher than what was quoted at check in. The reason? Several products briefly mentioned by the vet had been presumptively added despite the fact I told them that I wanted to compare their recommendations against other products available on the market.
In that moment, it didn’t matter what my background was or how much research I had done in advance. All that mattered was that I was facing unfamiliar and potentially overwhelming topics and had to rely on a professional to ease my mind. I had hoped visiting the vet would leave me feeling confident about my puppy’s health and what I needed to do to maintain it; but rather than starting the relationship by building trust, I felt overwhelmed, afraid to ask questions, and pressured into buying products that I didn’t understand or necessarily need.
As I was walking out with Banjo in tow, vowing to find a better vet and never repeat that experience, I suddenly found myself understanding why so many individuals shy away from engaging with financial professionals. No one wants to feel the way I was feeling. And they shouldn’t have to.
I wish I could speak for the entire wealth management industry and say that everyone has your best interest at heart… but just like in the veterinary field, it’s not uncommon to find yourself pushed into products that may be suitable for your goals but aren’t your best option. There are a lot of professionals who are incentivized to NOT have you ask questions or educate yourself on alternative solutions, oftentimes because they have a vested interest in something you don’t know about. If you find yourself overwhelmed by technical jargon in a conversation and can’t seem to get a word in edgewise to say so, you’re probably dealing with one of them. But past negative experiences shouldn’t hold you back from seeking the help you need to secure your financial future – you just need to find a better fit.
Relationships matter, especially in wealth management. Being a trusted professional is so much more than just having knowledge and expertise—it’s having a desire to help. It’s listening to what keeps a client up at night, assuaging fear, and being able to make a real difference. And in the case of a wealth advisor, it’s caring enough to move beyond cut and dry solutions to explore true potential.
Are you getting the personalized attention, unfiltered opinions, and straightforward advice you need from your wealth advisor? If not, it’s time to take a cue from Banjo and stop settling!
Stop Settling for Less Than the Best.
Ready to Step Up Your Wealth Plan?
Heaven L. Goodwin, CFP®
Private Wealth Advisor
Heaven graduated Cum Laude from Georgetown, here in our nation’s capital, with a bachelor's degree in finance. Along with her studies, she also interned with Monument Wealth Management, where her love of financial planning really took root. Throughout the internship, she was able to see first-hand how the team collaborates to achieve wealth goals for clients. She loved the experience so much that she stayed on with Monument after college and was promoted twice: once to Paraplanner in 2019 and then again to Private Wealth Advisor in 2022.
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Monument is engaged, or continues to be engaged, to provide investment advisory services. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice.
A copy of Monument’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.monumentwealthmanagement.com/disclosures. Please Note: Monument does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Monument’s website or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results. It should not be assumed that your Monument account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your Monument accounts; and, (3) a description of each comparative benchmark/index is available upon request.
Please Remember: If you are a Monument client, please contact Monument, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.