Monument Wealth Management Articles

Don’t Settle for Generic Wealth Advice

Apr 25, 2023 Choosing an Advisor

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Baby BanjoA 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 Mediocre Wealth Advice

Stop Settling for Less Than the Best.


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Heaven L. photo

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.

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