By Lane Reynolds, Senior Financial Advisor
As a financial advisor, I have come to realize that the most important principles I use to guide my clients toward financial prosperity are the very same ones I strive to instill in my own children.
For those who choose the parenting path, it is a daily lesson in humility, patience, and love. And for those who don’t have children, the fundamental lessons about guiding and caring for others remain a powerful and universal truth.
Here are just a few of the surprising and invaluable lessons parenting has taught me about being a better financial advisor.
The Guiding Principles of the Family and the Firm
Our work as advisors is a reflection of our character. The principles we hold dear in our personal lives must be the bedrock of our professional practice. For me, that means incorporating a set of core values in all we do, and in all we aspire to do:
- Equity: Just as a parent makes sure each child has what they need to thrive, we as advisors must treat every client, regardless of their differences, with the same level of respect and dedication. Whether a client has a seven-figure portfolio or is just starting their savings journey, their goals and dreams deserve our full attention.
- Diversity: A healthy family is one that embraces different perspectives and experiences. Likewise, a good financial plan is one that embraces diversity in investments, thought, and strategy. We must listen to a variety of client goals and fears, and provide a plan that is unique to their personal story.
- Responsibility: As parents, we are responsible for the well-being of our children; as advisors, we are responsible for the financial well-being of our clients. We must be accountable for the advice we give, the strategies we recommend, and the performance of the plans we build together.
- Consequences: We teach our children that actions have consequences, both good and bad. In financial planning, this is a core truth. We must educate our clients about the consequences of their financial decisions, including the long-term impact of an impulsive withdrawal, or the immense gain of consistent saving.
- Fairness: Just as a parent strives for fairness in the home, a fiduciary financial advisor must be fair and transparent in all their dealings. Our fee structure should be clear, our advice without bias, and our recommendations always in our clients’ best interest.
- Humility: We all learn from our mistakes, and as parents, we learn humility every single day. A great advisor understands they don’t have all the answers. The world is complex, and the markets are unpredictable. Humility allows us to listen to our clients, collaborate with other professionals, and admit when we need to adjust a strategy.
The Fiduciary Standard: An Act of Parenthood
The role of a financial advisor who adheres to the fiduciary standard is beautifully modeled after the role of a parent. It is a commitment to deferring many of your own needs and desires in favor of the needs of your children—or in this case, your clients.
A parent’s love is not transactional; it is selfless. They lose themselves in the growth and accomplishment of their children.
The same is true for a truly dedicated advisor. Our number-one goal is our clients’ prosperity, not our own. We make our clients our priority, just as we do our children, because they need to know we genuinely care. We defer our own interests, such as a larger commission or an easier-to-manage strategy, for the sake of the client’s long-term well-being.
As a consequence of this sacrifice, conscientious parents and advisors alike develop a nobility of character. We learn to be selfless, to prioritize the needs of others above our own. The true measure of our triumph is found in the financial stability and confidence of the families we serve.
As advisors, we must strive to be a true reflection of these principles.
Reach Out Today!
In the end, our greatest professional legacy is defined by the accomplishments of our clients. Just as our children’s lives are a testament to our care and guidance, our clients’ financial futures are a testament to our commitment to a fiduciary, client-first approach. It is a commitment born from the deepest, most human of lessons.
Our team at ABLE Financial Group prioritizes this fiduciary commitment. We earn our clients’ trust each and every day by seeking to understand their personal and financial goals, utilizing unbiased investments, and offering unparalleled service in a comprehensive and timely fashion.
Are you ready to partner with a financial advisor who treats your financial future with the same care and dedication as they would their own family?
To learn more about our team and the ways we can help guide you, call 480.258.6104 or email adam@ablefinancialgroup.com today.
About Lane
Lane Reynolds is Senior Financial Advisor at ABLE Financial Group, a financial services practice that focuses on transition planning and simplifying the complexities of their clients’ wealth. Lane has extensive experience in the financial services industry, spanning over 35 years. He graduated from Brigham Young University in 1985 with a degree in business management, focusing on finance.
Lane’s work involves closely collaborating with individuals and small businesses to assist them in planning and investing for the future. He is well-versed in various financial matters, including risk management solutions, such as life, disability, and long-term care insurance, as well as the various annuity solutions.
Lane values both his formal education and the practical knowledge gained through years of experience in the financial services sector. He emphasizes the personal nature of his work and acknowledges the importance of trust and respect in the advisor-client relationship.
Residing in Mesa with his wife, Melenie, Lane is a proud parent of five children and a growing number of grandchildren. The couple actively participates in their community, serving in roles such as coach, teacher, supporter, and fan. They have also been involved in fundraising for their local high school booster club, contributing to the athletic and music departments.
In addition to their community engagement, Lane and his wife are active in their church and regularly participate in humanitarian and charitable projects. In his leisure time, he enjoys golfing and spending time outdoors.
