5 Secrets Your Financial Planner Doesn’t Want You to Know


March 5, 2019

Just like everyone else, financial planners have secrets they keep from their clients. And, no, we are not talking about, do they or don’t they flip a coin to give financial advice – because that’s a myth and not true!

They do, however, have secrets they don’t share and that’s what we are going to talk about today. Here are 5 common secrets that financial planners keep to themselves:

  1. A spouse isn’t the only person who doesn’t approve of spending too much on a vehicle – your financial planner disapproves to! Most financial planners know that overspending on cars can throw a financial plan off track and if you don’t share your desire to purchase a vehicle and do it under their nose, they don’t approve. It makes their job harder and may put strain on your finances if you’re someone who is on a tight budget. Instead, discuss large purchases like this with your financial planner so they can help you develop a strategy for purchase.
  2. YOLO is a term a financial planner doesn’t like! While doctors often see patients who have hurt themselves living the YOLO lifestyle, financial planners also get the backside when they see you’ve overspent to fulfil a YOLO adventure.
  3. Every financial planner has their own tricks.  It might be keeping ledgers, or it might be keeping detailed receipts – whatever it is, each planner is their own person with their own tactics.
  4. Repeating advice is the name of the game! In many professions you repeat advice and strategy and financial planning is no exception. While each client is different, many situations will be the same and that means the advice given will be similar even though the strategy is customized.

Your financial planner is on your side and wants to help you secure your goals and future. Listen to their advice and be open any constructive criticism they may have for you. After all, their goals are to help, and they can’t help unless you listen!

Spaugh, Dameron, Tenny offers financial planning for physicians in Charlotte, North Carolina. If you’re looking for help with your financial goals, give SDT a call today.