LIMELIGHT

 

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Maggie Beach: “Episode #345: The Power of Personal Experience in Finding Your Niche: A Conversation with Maggie Beach,” XY Planning Network, Oct. 5. Beach says, “I decided I was only going to take accounting or tax clients if they were going to engage in financial planning services. And there were a few clients, legacy client tax clients that I just loved and had really complex tax situations. So I kept them.”

Lindsay Martinez: “Inspiring Conversations with Lindsay Martinez of Xennial Planning,” SDVoyager, Oct. 3. Martinez says. “If you asked me 5 years ago whether I would have my own financial planning business, I probably would have said, ‘I am not the entrepreneurial type.’ Fast forward to today, I not only own a business, but I am also doing contract work for another firm, helping them to build their financial wellness program.”

Cody Garrett: “The FPA Community Weighs in on … CFP Exam Prep,” Journal of Financial Planning, October. Garrett says, “Do not study the test bank questions and answers. Review the answer explanations to understand why the correct answers are right and the incorrect answers are wrong. This strategy will help you understand the concepts more deeply.”

Uziel Gomez: “Growing up Latino with Special Guest, Uziel Gomez,” On My Way to Wealth, Sept. 28. Podcast.

Carolyn McClanahan: “6 trends that upend past thinking about retirement planning,” ThinkAdvisor, Sept. 27. McClanahan says, “Life is precarious, as the COVID-19 pandemic experience has shown us all. Over the past few years, many people in our client base have come to the conclusion that it is important to balance the enjoyment of life today and the need to save for the future and to save for financial resilience and freedom. For us as advisors, this means we need to set aside the retirement-first discussions and put the spotlight on this concept of financial resilience.”

Jake Northrup, Valerie Rivera: “Millennials Want to Retire at 50. How to Afford It Is Another Matter,” The New York Times, Sept. 24. Northrup says, “The responsibility has shifted from employers helping employees retire to employees helping themselves retire.” Rivera says of putting money in an account to buy real estate, “It feels different, more tangible and desirable, because they can access it.”

Luis Rosa: “8 Latino Financial Pros to follow in 2022,” NerdWallet, Sept. 22. Rosa says, “I have worked with clients that were doing great in their business, yet on their personal side, they don’t have a structured budget, fail to invest for their retirement, don’t have life insurance and even fail to ensure they are paying adequate estimated taxes to the IRS and/or their state during the year. Aside from having an accountant or bookkeeper that helps them on their business, I highly recommend finding a financial planner to ensure that their personal finances do not get neglected.”

Luis Rosa, Lauryn Williams: “What to Know When You Make a Lot of Money,” Get Ahead by LinkedIn News, Sept. 22. Rosa says, “I have seen a lot of people make significantly higher money and immediately, or shortly thereafter, end up bringing their lifestyle to match a new level of income. Then, they end up living paycheck to paycheck, just at a higher level. Maybe they have a nicer car, a nicer place, but it is the same concept. The first thing to do [when you start making a lot of money] is to really sit down and look at your budget.” Williams says, “Sometimes when a $50,000 raise comes their way, people want to jump into action immediately. It is OK to hit the pause button and do nothing. [Think about] what you’re trying to accomplish in life. If it is purchasing a home, reroute those dollars to a savings account so you can get ready for that home purchase. If it is saving for your kids’ education, paying down your student loans, etc., there are tons of different competing priorities that people have, but you first need to sit down and decide what those priorities are for you.”

Chip Addis, Cody Garrett: “Financial advisers debate the best way to charge clients,” InvestmentNews, Sept. 21. Addis says, “If we’re not managing those assets, it’s very difficult to make sure that the recommendations you make to the client actually get done.” Garrett says, “We each serve different people differently. We’re not forced to be under one compensation model. To give advice in someone’s best interest, you have to first understand their interests, and financial planning has to precede any type of [product] implementation.”

Valerie Rivera: “Growing up Latina with Valerie A. Rivera, CFP,” On My Way to Wealth, Sept. 14. Podcast.

Bill Hampton: “Making DEIB a Priority in the Financial Services Industry,” Lattice, Sept. 6. Hampton says of diversity, equity, inclusion, and belonging (DEIB), “You’re seeing [DEIB] being embraced not only at the [human resources] level, but at the CEO and C-suite level. Now, it’s an imperative.”