Recently we got a call from a client who just lost her job. She was telling us how much she appreciated being in the position she was, due in part because of work we had done over a year ago when her job seemed secure. This is a common comment to which we always say the same thing--"That's just financial planning and we were just doing our job."
She had received an inheritance and was wanting to review her families' overall situation in this new context. One of the first things we did was to pay off ALL their debts including the house. That along with a cash reserve account helped make the job loss way less scary. She has now replaced her job in part, she says, due to her calm confidence, and I think the good work ethic which put her here in the first place.
Saturday I was talking to a banker on the golf course where he asked me about another "financial advisor". He was impressed (not positively) about this person's focus on themselves and their needs rather than the needs of the client. His perception of the "financial advisor" was of a salesperson not an advisor. Knowing the person to whom he referred, it did not surprise me. However, I wonder what they might mean by "just doing our job"?
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