Welcome To “Solving The Financial Puzzle” Podcast

Solving the Financial Puzzle
Solving the Financial Puzzle
Monthly show that discusses the problems most people face when planning for their financial future. Special emphasis is placed on tax planning, especially for small business owners. With CFP Nikki Earley of Money & Clarity, based in Cincinnati, Ohio.
Ep 151: Meet the Parkers: A Case Study for Whether or Not You Need an Advisor
by Nikki Earley

We get the question quite a lot about whether someone needs a financial advisor so Dan Cuprill shares a real-life example of a couple he worked with to provide a case study for how the process plays out. We’ll call them the Parkers, and we’ll walk through their first meeting, goals, needs, and how we decided they were a fit for an advisor.—-more—-

Today’s show:


0:50 – Why it’s so important to have a plan and why we’re talking about that on this episode.

3:03 – Why I don’t off my advisor services to everyone.  

3:55 – Are you prepared to stick to the plan through the ups and downs?

4:54 – Let’s take you through a case study using actual clients. We’ll call them the Parkers.

5:23 – Who are the Parkers?

7:46 – This is the question I start off by asking every potential client that comes into the office and what I found out about the Parkers.

10:05 – There was fear from the Parkers despite having a sizeable net worth.

11:04 – Here’s where a good financial comes in to play.

11:50 – Here are their goals for retirement but they had an issue with their children.

15:14 – Another big issue is they have family in a nursing home with Alzheimer’s and they don’t want to burden their children with that.

17:06 – Another interesting thing that came up in our discussion was the use of annuities and whether they should utilize them.

21:38 – If a client is just about the numbers, we’re not the firm for them. Those are irrational expectations.

22:51 – The Parkers were seeking peace of mind and a sense of freedom. That’s who can benefit from holistic planning.

24:03 – This is where your plan needs to focus.

25:45 – We had a design meeting with the Parkers to let them decide if their current plan met their needs. Once that was done, we then wrote the plan.

Read more here: https://www.moneyandclarity.com/2019/09/ep-151-meet-the-parkers-a-case-study-for-whether-or-not-you-need-an-advisor/

Financial and retirement guidance from Nikki Earley, Certified Financial Planner at Money & Clarity. Get great financial guidance and information monthly on this show to help you prepare for a prosperous retirement and financial future.
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Episode Show Notes

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