Episode 17: What's YOUR Story? And...WHY We Need to Hear It

ABOUT THIS EPISODE

On this episode of the Build Your Life Podcast with Financial Expert John Browning, we're discussing YOUR story.

When working with a new client, it is imperative that John learns as much about your life and journey as possible. In fact, this is the most valuable information you can provide to receive the best advice and most successful plan for your future. Listen in to learn all about how John works with clients by using their unique personal history to establish a winning financial future.

For more information, visit www.GuardianRockWealth.com to learn more about what John can do for you. Or, give us a call at (312) 372-5000.

 

Welcome to the building your life podcast with John Browning. Building your life as a relaxed and unedited conversation with financial expert John Browning. John's the founder of Guardian Rock Wealth in Lake Forest, Illinois. He's also the author of the Book Build Your Life, not a portfolio, a guide to your financial future based on your personal values. Now you can purchase John's book on Amazon, or you can stay around to the end of today show and I'll tell you how to get a free copy milk right to your door. I'm Michael Lawn, your host for the next few minutes as we chat with financial expert, business owner and author John Brownie. Hey John, how your week going this week? Buddy, it's going really well. We've had some so a new client come on board, which is great, and we're just starting to get get them helped out. and the weather's been beautiful here in Hawaii and I love I love the idea that we moved here and the people are wonderful. So it's been a great week. Now it's terrific. Yeah, maybe maybe I should we should start this podcast that with Aloha next time, I guess. Huh, yeah, that's right, exactly. Yeah, I just have to remember that. But let's just starting out. They congratulations on a new client. If somebody's listening and they and they've listened to some other podcasts and they want to reach out to you, they just forgot real quick, how do they get a hold of you? And then we'll get into today's topic. Well, the easiest way and quickest way is just reach out over the phone. Three one two, three seven two five thousand, or go to our website at www dot guardian rock wealthcom and there's a contact us page and that's another great way. Or, of course, Linkedin facebook. We're out there, easy to find. Just look us up there and you can contact this that way. Okay, so this is all right. Phone number again, three one two, three seven two five thousand. That's right. Even though I'm in Hawaii are our main line goes through Chicago, so it's still a one two area code. All right. Well, that's really cool.

So I we're going to put a jingle to that, but it just in my head is like three one two, three seven to five thousand, and I have to do things like that, John to remember. Thanks. So I get it. or US Guardian rockwellthcom and all that information is there, so you don't have to remember anyway. This week, John, on your podcast we are talking about how important it is when this new client that you got this week. All right, so this is great, John. Let's talk about them. You don't have tell me their name or anything, but one of the things that you do is the importance of understanding their story as you start to help them create a portfolio that's going to help them build a life, not just a portfolio. So talk. I want to spend some time here talk about how important it is that you know the story of your client. It's frankly, the most important thing, I believe, and it and the reason for that is that the mechanics and everything of putting the other a portfolio become second nature to me. I've done it for so long that I can I can make it work for the goals of that individual. But the most important thing is to understand the person that I'm talking to and their story. And not just their story, but if they're married or have have a significant other or or children, I need to understand the family story and what that helps me to do is determine what their values are, and a lot of times what we find out is that they've never asked themselves some of those questions and so when we start asking the questions, they get so they have some revelations as well, which is just a lot of fun to go through. Yeah, that's that's that's super important to so that I can build the best experience for them and really build their life as opposed to just port Fuli yeah, and that's good. I was reading something the other day and...

...we've all heard it, but it just came as new to renewed to me. Is, if you want a better answer, you need to ask a better question, Jin, and that's what you're an expert at, is asking those questions that too many times we've not really asked and and I bet you found that many times husbands and husbands and wives haven't really asked those questions and they're not always on the same page. Is Do you find that? I find that all the time and it's one of the reasons that we push very hard to have that an initial meeting, not with just one of them but with both of them, so they can both be there, because if you if you look at the statistics, is a horrible statistic, but most marriages break up. For you know, there's there's a list of the top three things, and you want to know what two of those are? Is Communication and money. They're they're, they're right up there, because it gets it's uncomfortable. Well, I don't want to talk about money. You know, it's we get an argument. So I just don't do it. Sometimes if I can just sit there and I maybe I even clarify I am a little bit of a marriage counselor for for a few minutes. And so one of them says, well, this and that. Well, no, we don't want to do that, we want to do this. More often than that, they're they're pretty much deligned, but maybe just a little off center from one another. And when we get them to talk about it, we can bring them back so that they compromised and they're they're just right in line, and then we can build that life for them that reflects where their values, where they both want to do. And then even better is I write it down and we put it into their investment policy statement and then we go back to it. So one of them can't get percent of that. Here's the in doesnt statement. And you know, and Fred or Janis or whatever their name is, you know, this is what you agree to at the time. Now has that change? Yeah, nine times out of ten they're like...

...now, yeah, that's funny. That's great that you get historical on them. Yeah, the the other thought that I had around that is that you, because of your background, your expertise in in this, you have multiple ways of getting to a goal. So, for instance, you know, my wife and I are opposites. Were complete opposites when we get into the money discussion. She comes from a very conservative background. I'm a little bit more aggressive than her, but at the end of the day we have a goal and in my head there's like one way to get to that goal. You have the ability and the prospective to say, well, you know what, they're probably seven ways to get to that goal, right. Is that part of the process of understanding our story? And because she and I come from different backgrounds of money, but we've murdered our lives together. So talk a little bit about how that all plays into it and how you use their story to start building that portfolio to support their life. Yeah, you know, it's you know, often like talking the book about the snowflake theory, about everybody is very just like our fingerprints and snowflakes are different. If you had two very different people together, they make a whole different marriage. That's different. Fails are right. So I have done. I have a couple clients that have very separate accounts and it's really amusing when I sit down with them for their for their meetings, and they compete and compare. Oh, my poorer folate a better than yours. I ended a little bit better than yours. And it's true, right, depending on the market environment, just how you get there, right, and that's right for a different way. And and if you're more aggressive, you're either going to get there faster or because you're more aggressive, there will be times when you'll be way below that other person. Right. So, so that's one way we work it out, but I really don't like that way. I had much prefer the manage...

...the whole portfolio. It might be his portfolio on her portfolio, but we diversify it and make it all as one single portfolio and manage it that way. That's that's what works best. But we can work with pretty much anything and as we go through it, just you know if they like to participate in some people do. Some people just really don't like to deal with it at all. But if they like to participate in it, you know they'll. Will have some fun with it. And you know, for of them said, well, I kind of like that idea, but not really knows. I like it. We'll go back next time, because I always take notes, and we'll go back the next time. I said, well, yeah, she was. He she beat you on that one. She was right on that call, you know. So we we have a lot of fun with that. But there's all sorts of different ways to get there and it really mostly depends on how much risk are you willing to take and what type of investing are you comfortable with? Yeah, that's that risk thing is really really important, because I've done a lot of those personality tests and things of that nature around risk and I find that I'm not as risky as I thought I was because just different questions. But it's because of the questions they ask. And so as you as you understand people's story and their value systems and what they're trying to accomplish, that helps you understand them and and make decisions for them and with them for their portfolio. What the so in doing this and being a pseudo marriage counselor at times, as you say, how they what are some things that have made you such a good listener, John? I think it really goes back to having six children and married for thirty that will know it. That gave me some real world, practical experience on how to listen and listen well, and especially with three of them. And...

...this is no offense to any gender either side of the fence. What I think most of my listeners will understand when I say that having three teenage daughters at various points along the way tends to make you a better listener. As they hit about twelve, thirteen, five and sixteen, maybe a little more the drama just just a is there. It's just who these girls are right at that point in time and they have huge, enormous problems in their lives that require a lot of listening. And you know, big part of that listening is is is repeating what they said and am I is because you know they're their bow doesn't match their shirt or something. You know, I have these two girls in my house John, there one's eleven and going on sixteen and one's nine, and so I'm starting to understand what you're saying. There Dude, yes, there is. They're the problems are very real and very huge to them, even if I is dad or like why do you care? Again, but it's important as a parent and as a dad to take a minute. Can you tell me? Tell me why. Don't say it in a negative way, but tell me why this is bothering you right now. Well, it's bothering you because of this. You can't believe you don't understand that, and I'll repeat what they said. Well, so you're telling me that it bothers you because and they'll be like well, no, that's not what I said. In my mind I'm thinking, yeah, I actually it is exactly what you said, but I don't say that. I say well, okay, we'll tell me again. What. Why is this problem? And you know, it's the same way. Maybe not to that extreme, but it's very similar to that. As adults, a lot of times, and I'm guilty of it as well, I'll say something and in my head I'm saying something completely different than what the other person is hearing. So...

...it's we found a super important not just to listen and think we understand what's being said and what the values are and all that. Number one ask a question why? And number two, ask that clarifying question and then make clarifying statements to verify whether or not you're right. And we encourage people not to get lazy and just say, well, he's close enough. No, no, tell me I'm close enough. Tell me exactly what what you meant so that there's no misunderstandings going forward and we create the best life going forward through creating the best portfolio so you can exp have a better experience. That's awesome. Yeah, that and that thing I love about you, guys. John is a guardian rock wealthy. It's more than just the numbers in the portfolio. I mean that that's going to be in place, but it's really about understanding your client, and what we talked about today's understanding their story and why that's so important, because when you understand somebody's store, you get their background, their value system and in where they want to go, and you take all of that together. You take good notes. I like that too because, if you're anything like me, the old memory doesn't work quite like it should, and so taking notes, and and those notes aren't to come back and become historical on them all the time, but to say here's where we're going and clarifying it. So because finances is a hard topic for many people and we don't get it. So it's important that we have somebody to like you. So just encourage people to reach out to John Guardian Rock wealthcom, or you can just pick up the phone and column. Let me see if I get it. Three one, two, three, seven to Fivezero. That's the one. Yep, awesome. Now if we can just put a jingle with that, John, we will be good to go. There we go. Okay. Any parting thoughts on today's topic of just understanding people's story and congratulations on getting a new client. That's awesome. Yeah, I think. I guess the other thing that to mention as we close that you know,...

...it might not be what you think it is. When we get to know people and get to know their values, we have found some very thing, some things that we wouldn't have anticipated matter to people and they might not matter to me, but the matter deeply that individual. We found out just a one quick example, one person that is our client. We were kept telling we really need to sell this particular position out of the portfolio. It's an underperforming business. Doesn't look like it's going to turn around, and she was. She did not want to do that. And as we got more into her story, what we found out is that her fought mother had given her those shares decade. It's a go. He was emotionally attached to that and understanding that, you know at first of all will manage around it. Then, if that is truly important to you, won't manage around it. But once she actually told us that, she was very relucttant to tell us for whatever reason, and it really well. She told us she I didn't want to tell you because I think it's silly that I feel this way. And it was never silly. When you feel a certain way, there's a reason for it, the why. But once she said it and got it out there, she said, you know what, why don't you go ahead and sell those securities? Because because it's just, it's not right and we and what we suggest it is, why don't we keep a small position? HMM, you really like that solution. It was something to remember her father by and it was very important to her and part of her life. Not Forget about the portfolio. It's part of her life and today let's just one parting it's another way that you wouldn't expected, that listening to people's values and why they believe a certain way can really make a big difference in their experience. That's great. WE'RE gonna end up right there, because I could not add anything to that's a phenomenal story talking about the power of listening, why it's so important and why you, a guardian rock well, are so critical in helping people build a life, not just a portfolio, because you take...

...it to that deeper personal levels of John, thanks again for another great episode to help us understand personalities and stories and how important that that is and how that plays into building a great life in portfolio. So you go, enjoy your weeks are and we'll talk to you next week, I guess right. That's right. Looking forward to doctors in all right, but by self. Thanks for listening to the building your life podcast was John Brownie. Be Sure to subscribe to this podcast so each new episode will be sent to you automatically when it is released. Have a terrific day.

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