Just past the second anniversary of my tenure at Portfolio Strategies Corporation, I thought the open letter format would be appropriate as I haven’t written you all in a long time. I remember long ago handwriting a stack of postcards and putting stamps on them to be mailed! Many of you received one of those postcards.
Reflecting back on my almost 17 years of financial planning, remembering meetings and remarks, I want to first of all thank you for your loyalty in walking the journey with, as one client termed me, her financial chickie. I have enjoyed our conversations and you have taught me a lot about human nature and behavior. I have valued your life perspectives.
I know many of you view your finances as one of the must do chores in the same vein as ironing or cleaning the bathroom. In fact one client remarked that she wished money didn’t exist. Variations on that theme have surfaced over the years in my financial planning practice. Some people’s way of coping is to ignore the elephant in the room by procrastinating on changes or important decisions. I am the voice of reason in those situations.
My role is to teach you to become an objective steward of your financial resources. Yes there is a lot about money that is unfavorable. I see a lot more of it than most people. Occasionally I ask myself is my career worthwhile and enjoyable? Some days are more challenging than others. For example, the democratization of knowledge through the internet has led to it becoming popular to look down on experts and professionals and to second guess their education and wisdom. Plus the proliferation of financial information has misled people to believe that building financial security can be done quickly. I am the voice of patience in those situations.
The sense of gratification I get is when I see the results of assisting people successfully navigate the financial maze which, with each technological advance makes financial freedom harder to reach. 2 examples stand out. The first is a single parent with 4 children. This parent was unable to obtain child support because the other parent had left the country. Parents must file a tax return to qualify for child benefits. That parent’s choices were to do a paper return, buy tax filing software( which costs money and requires a computer) or hire a professional. That parent’s gratitude was priceless and made my pro bono work worthwhile.
The second example involves a missing T4. Employers now save money by providing an electronic copy. But for one taxpayer that proved a hindrance to file so I am now in the process of helping him catch up and deal with CRA.
My role is to equip you to level the playing field in the financial world by giving you tools and knowledge. I am the insider in your corner who has a fiduciary duty to always seek your best interest. As long as I know I am making a positive difference in clients’ lives that is my prime motivation for my work.