Life Transitions: The Importance Of Working With An Advisor Who Understands
When evaluating potential financial advisors, it is imperative to choose one who is technically qualified to care for your financial well-being. Clients often decide on which advisor to work with based on that person’s professional designations, education and experience.
However, what many clients do not take into account is the financial professional’s ability to help navigate the personal and emotional challenges they face. Particularly during a time of personal transition, such as the death of a spouse or parent, a divorce, the sale of a business, retirement, a sudden inheritance, a major career change, etc., it is important to work with an advisor who can successfully navigate both technical and emotional challenges. Is your advisor up to the task?
The Two Sides of Money
Advisors need two distinct skill sets when helping clients navigate life transitions – technical experience and personal/emotional experience. These are these the two sides of money, and they include the following:
The Technical Side of Money
- Cash flow
- Risk management
- Estate planning
- Retirement planning
The Personal Side of Money
- Hopes and dreams
- Sense of well-being
When a major life event occurs, it is important to work with someone who will handle the standard “blocking and tackling” while also developing a plan to help you navigate the transition and arrive at a comfortable “new normal.” At Mariner Wealth Advisors, we have advisors who specialize
in helping clients navigate these personal and emotional challenges.
A Partner to Help Navigate Your Transition
Planned and unplanned changes happen. Most of us will experience at least one difficult life event that impacts us both personally and financially. During times of transition, when our sense of normal shifts significantly, our cognitive skills are often impaired by our emotions. It is especially important to work with someone who not only understands the technical side of things, but who also listens, determines what decisions have to be made now and what can wait, minimizes stress, understands the emotions involved and makes sound decisions along the way.
Some of the many questions this partner may help answer include:
- How do I invest given my new situation?
- How do I make certain I don’t run out of money?
- I’ve never been in charge of the finances – how/where do I even begin?
- I’ve always had a steady paycheck – how do I manage without one?
- How do I prioritize my needs and wants and create a plan of action?
- How do I manage my family’s expectations?
The Certified Financial Transitionist™ Designation
As you consider partnering with an advisor, you may look for one who has obtained the Certified Financial Transitionist™ designation. A Certified Financial Transitionist™ is an experienced professional who:
- Has also obtained the Certified Financial Planner™ professional designation, helping to ensure a high level of technical experience
- Has at least five years of experience working with clients
- Has completed a one-year education program with experience-based case studies, and written and oral certification exams
- Has demonstrated a high level of competency
- Adheres to The CeFT™ Standard of Care and the Sudden Money Institute’s Code of Ethics
- Commits to regular continuing education
Certified Financial Transitionists™ are specially trained to guide clients through life transitions using unique processes and tools that incorporate cutting-edge research in the areas of neuroscience, physiology, sociology and psychology regarding the human experience of major life change. The result is often a smoother transition and an easier path toward finding one’s new normal.
This article is limited to the dissemination of general information pertaining to Mariner Wealth Advisors’ investment advisory services and general economic market conditions. The views expressed are for commentary purposes only and do not take into account any individual personal, financial, or tax considerations. As such, the information contained herein is not intended to be personal legal, investment or tax advice or a solicitation to buy or sell any security or engage in a particular investment strategy. Nothing herein should be relied upon as such, and there is no guarantee that any claims made will come to pass. Any opinions and forecasts contained herein are based on information and sources of information deemed to be reliable, but Mariner Wealth Advisors does not warrant the accuracy of the information that this opinion and forecast is based upon. You should note that the materials are provided “as is” without any express or implied warranties. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.
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