A Day in the Life of a Financial Advisor
“So, what does a financial advisor actually do?”
Whether you’re a potential client or are considering a career as a financial advisor, hearing how advisors work with their clients can be helpful to determine if working with an advisor (or becoming and advisor) is right for you.
I start most mornings by getting my kids up to get ready for school and brewing a cup of coffee for my wife and I. We cherish this time together to go over our day, talk about anything that needs to be discussed, and genuinely just enjoy our time together.
From there I head into the office, read up on financial news, and meet with our team. This is important because, throughout most of the day, I am in meetings with clients (both virtual and in-person) or preparing for upcoming appointments. Giving my team direction really helps them focus on what needs to be done. This includes: any updates to financial plans they have been working on, assisting with creating new plans, updating investment allocations, or working on our key initiatives. As the President of the firm, it is important for me that the team has the resources needed to take care of our clients and their unique needs. Having the right people working for us also allows me to spend more time working directly with our clients.
After the team is set, I typically have 1-3 morning appointments before heading to grab a quick bite for lunch with friends/clients, getting a quick workout in, or playing catchup with the team from the morning’s activities. After lunch, I catch up on messages and meet with clients for the remainder of the day. During each appointment, I take notes, help solve both immediate and long-term planning needs, and continue to manage the emotions that revolve around money.
After work, you can usually catch me on the basketball court, baseball diamond, or football field coaching my 2 kids! I treasure the time that I get to spend with them going through this phase of life!
Some examples of client recent meetings would be:
A Physician who recently started his post-graduate residency looking for the most efficient way to pay off student loans (or in this case working through the PSLF - Public Student Loan Forgiveness - options) while starting to accumulate assets as income rises.
A new younger couple that feels like they are doing everything they “are supposed to do,” but are still making more than they are spending and looking for “what’s next.” In addition to creating a plan with the excess cash moving forward, we were able to find some things to enhance what they were already doing to fit more in line with their plan.
A younger minority business owner and the President of his company on how to effectively allow the younger owner to purchase the remaining shares the President currently owns. The younger owner does not have the assets on the sideline to outright buy the business, but he has dramatically increased the value of the firm with his sweat equity. Through the planning process, we discovered a way for the younger owner to be rewarded for his time working on and growing the business while still funding his retirement after exiting the business.
Investment Advisory Services are offered through BCGM Wealth Management, LLC dba Aurora Asset Management (Aurora). PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. Investment decisions should always be made based on the client’s specific financial needs, goals and objectives, time horizon and risk tolerance. Advisory services are only offered to clients or prospective clients where Aurora and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Aurora unless a client service agreement is in place.