Why people don’t hire a professional adviser?

ABOUT THIS EPISODE

Financial expert, John Browning, shares a few common reasons why some people don't hire a financial advisor. One major reason is fear. Other people are concerned about costs. There are other reasons that you'll hear about on today's episode. Listen to see if John talks about one that you've heard of. And be sure to connect with John by texting "LIFE" to 21000 or GuardianRockWealth.com.

Welcome to the build your life podcastwith John Browning. Build your life as a relaxed and unedited conversation with financialexpert and number one Amazon bestselling author, John Browning Jones the founder of Guardianrock wealth and serves clients across the United States. John's the author of thebook build a life, not a portfolio, a guide to your financial future basedon your personal values, which you can purchase on Amazon, or stayaround to the end of today's show and I'll tell you how to get afree copy mailed right to your door. I'm Michael The lawn, your hostfor the next few minutes as we chat with financial expert and business owner JohnBrowning. Well, hello, John Browning. How's your day treating you, sir? It's treat me theoteristic. I'm glad to hear that. I'm gladto hear that. Hey, we've had some a couple of really good episodes. We talked a couple we sho about automotive terms and things as released tofinancial advising, which I really I am joy. Last time you took meon an entirely new trip around what to do with a k. You gaveyour number one piece of advice for somebody who's leaving a company. So theyneed to go back and listen to that if they didn't hear it. Andset us up for a couple of new episodes coming up around for one caseand things that we'll talk about later. But we mentioned this in the lastepisode in and it's one the question, John, that I've just kind ofhad. It's kind of like a lowgrade fever. You know it's there,but you can still do some this question just kind of keeps knowing at meand I wonder why don't, as complex as financial planning is, why don'tpeople hire somebody like you? Why don't they hire a professional advisor? Weare so many people just bent on doing it themselves. I think that thereare. There's a whole lot of reasons and and I hear them all.I been and the bottom line, I...

...think, really comes down to probablyto two main things, and one is the problem is it's it's important,but it doesn't seem urgent. And if anybody has listening, he has everread the seven has a highly effective people and there's different ways you could puttogether your schedule for the day. There's planning tools and there's the urgent andimportant, the important but not urgent, and then you kind of have allthe rest. And I think this tends to fall into people's minds under thatimportant. But I don't have to do it right now, right and soit's really easy. Because the other part of this is fear, a hugefear factor, not to show that they have like ten years ago, butthere's a huge fear factor with just surrounding the whole thing about finances, financialplanning. I mean, do you really want to go tell somebody that maybeyou don't know that well all about your financial situation? Yeah, maybe notright if they can be really intimidating. But the interestingly enough, if you'vegot a medical problem, you'll tell your doctor just about anything. That's thatis so true, and it's but sometimes those medical issues are not just important, they're also urgent. It well, and but the doctor will, everydoctor out there I believe, will tell you come to me before it's urgentand got that nagging pain somewhere at your body telling you you need to dosomething about it, even though it might not be urgent, because it's affectingyour daily life. And that's what I would encourage people to do. Theyknow it's important but they just never get around to it. That's the numberone thing, and a lot of that...

...is because of fear. Yeah,and I like that in the looks. Think that Dr Analogy. You know, I keep putting off, and you know I'm fifty five, John,I keep putting off my annual physical that I should have had probably a decadeago. Right, I'll do it. Going to the doctor's is a hassleand it cost money. He's not free. He doesn't thank me for free.You're not a hassle because I can book online and do a zoom calland your first consultations free. If so, what's the deal? I just thinkpeople are are they're fearful of for whatever reason, but they are losingtraction. You mentioned traction in the automotive aspect, with tires on the road, and if you have bald tires you've got no traction, especially on wetrain roads. Yeah, Planning Your finances, you've talked about this for a longtime. Jan Of this podcast. Your number one word is consistency.That's right, and if you don't get started, you're going to get notraction. You're going to have no consistency in you're going to wake up oneday being sixty five or seventy gone. Wow, I should have called somebody, and so my encouragement, I guess it is just called somebody. I'llJohn Guardian rockwellcom or make it simple, text life Ilifa to twenty one thouget his contact information, hit the button on your phone column, set upa zoomy. It doesn't cost you a thing to begin a conversation with Johnto see where are you and can he help you build a financial road map, like we talked about a couple episodes ago. Listen to these podcasts.That's a great place to start. But I just know that a lot ofpeople are not. A lot of the TV commercials want to make you thinkthat you can do it yourself, and some people can. That doesn't askmajority can. Well, and that that, I think, is so those twothings right if you're a professional, and I'll tell them myself right.You know, I I sort of grew up, so to speak, onWall Street and I managed at one point I managed a hundred and fifty sevenhave been billion dollars. That would that...

...was what was underneath of my purview. And so who who better to who would know better than me how tomanage my portfolio. Well, I will tell you. I did not doa great job at my financial planning. And there was a point, youknow, I had had a nice couple Nice cars I have, you know, I had six kids, I had, you know, I was paying forstuff. I you know, I had nice suit, whole nine yards, and suddenly I found out I got laid off. Wow, oh boy, oh boys, so the Big Wall Street guy. And, by theway, you don't get your unemployment check right away. A matter of fact, you don't even like I got a set. I was fortunate. Igot a severage check because I've been with the company, that particular company,for over eighteen years. So I got a severag check. That didn't comeright away either. And there was a there was a period of time whereI was in my nice drive, my nice infinity, and I was howmany people listening to this podcast know how important it is to show up foryour kid when he's worked really hard and he's in his wrestling me right?I mean how many people know that's important? Yeah, right. So it costthree bucks at that time to get into the wrestling meet and they don'ttake credit cards. I don't know if you knew that, but they don'tpay a credit cards. At middle school wrestling needs. I was digging throughmy car, my couch to come up with the three bucks. Now,two days, two days in advance, you know, two more days andI would have this big seven check, you know, and when I've beena problem. But right then, sorry about cash, for I got downI had twenty five cents. I didn't have and I just to ask abuddy of my say, Hey, got twenty five cents, and he justlaughed and said, yeah, here you go. You know, I didn'tthink but I was thinking of myself. Oh my goodness, I can't believeI don't have an extra twenty five cents...

...to get in here, but Iwas going to do anything I needed to show up for my son. Yeah, but you know, that just tells you that if your doctor, doyou diagnose yourself? Probably not, and if you do, that's bad idea. If you're a lawyer, what are they what are they say? Yeah, your lawyer and you have yourself as a client. You have a fullfor a client or something like that. Right, and it's it's true.Judges won't even really allow it. Yeah, because you're too close to it.It's too personal. So even myself, I don't necessarily manage my own financialplan. I bounced that thing off of somebody that's an independent third party, my partner. Yeah, and and he kicks me in the butt sometimes. It says now, I don't do that, and he what? He'sright, and we need that. And and, but that's the thing Ilove about how you guys operate, Johnny, and we've talked about this on otherepisodes of well, I mean you bought the Harley, right, hmm. And and you like to buy toys what'son while and sometimes that's okay.But having that third party look into it right where what you can function asthat third party. Somebody say hey, John, we're thinking about doing this, and you can look at them. Go you can do that. Buthere are some of the ramifications that you might want to think about. It'salways their decision, right, if their money, you're just there to kindof guide and direct. And then you also talked about you being the badguy because when the relatives come and knock and they need somebody, you sayno, you can't do that, and then you that's it's clean, I'lltake the plane yep, yeah, that comes for free. When you whenyou work with John, he becomes the bad guy. Yeah, yeah,really valuable because it gets very emotional and, you know, family dynamics and everythingelse used to. I'll take it, especially if you if you start buildingwealth, and when family understands that you've got wealth and you're going tostart leaving some money or something, and they start showing up on holidays andthings, something's you know, you can spell a wrap. Yeah, buthaving you there to say, well, we have to run it by ourfinancial advisor. Boy, that's nice.

If you don't have that, well, well, y'all do right. Fear, I think. I think you probablynail it with fear. People are just scared to reveal themselves. Maybe, okay, I want on a limb here. Maybe it's not necessary.Here it's embarrassment. There's can, there can be that and some place.People don't come to me because they think they can't afford me that. Wehave programs for you. Have really have programs for everyone. Yeah, ifyou just are nowt or if you've gotten yourself in, you know, Affix, so to speak. Hey, who has it? I did Ijust told you. You know, I did something stupid, right. Ijust you know, pretty much all of this have at some pointer or atime. And there's also this I call up the curse with a dollar signfor the s and furs of money. The curse of inheritance, is somethingthat I'm kind of writing a bit of a paper on in conjunction with anotheranother one of my professional friends who focuses on inheritance and family wealth. Andthere's just a lot, but there's a there's a lot of reasons. Theother reason is, well, I can do it myself. You mentioned thisto like CNBC will tell you what to do with your money. There's abunch of youtubers out there, and I'll tell you what to do with yourmoney. And there's the meme stock crowd, the Robin Hood Crowd, the I'lltell you what to do. Now, none of them may be licensed.And here's the one thing, like, I have personal experience with the folkson CNBC, right, because I've been on some of their shows.I put together portfolios with some of those guys. I know some of thempersonally. They're really nice guys, right and gals. Yep, nice people. Guess what? They don't even know your name. You know. Theydon't know who you are, they don't know what your hopes, dreams fearsare, they don't know where you want to go in the future. They'llgive you random, not random, but they'll give you specific like stocks,or you should buy this, but should you buy that it? It's justlike why we're not giving financial advice on...

...this podcast, because I don't knowwho's listening. Right. I can only do that if I talk to youindividually. And what I think? I often use the analogy when people aredoing all of us themselves and they're really good at their job. Right,they're fantastic, very smart. I have I have a gentleman who is literallykind of a rocket scientist. He's a clientomer. Okay, he's way smarterthan I am, right, I'm sure of that. But he knows thathe's good at what he does and I'm good at what I do, andso he asks me and he uses me as part of his team and I, because I know him now, I can give him some really great adviceon how to build his life and what he wants that to look like.And if you look at all the really amazing people out there, the SteveJobs, the you name the famous person. They didn't get there on their own, built the team around themselves. Now you're the CEO. You knowI you can hire me. I will be your CFO, your coo,whatever it is that you need. And anything I don't have direct expertise in, I have other people on my team who do have that expertise, whetherit's legal estate planning or tax planning or whatever. So trying to do iton your own as a big temptation and a big reason that people don't cometo me early. They stay. And that and that's just the Plano procrastination. It is now and and and as we wrap up, I want toyou just open up a whole kind of worms there to me telling we thinkfinancial planning, we think stocks, bonds, but you also understand the tax ramificationsof it. You also understand what to do with the K and win, and we talked about that on the last episode. If you ever changejobs, what do you with that one k this there you you know aboutthat. You know about a state planning.

You can bring people to the table. I don't have to go try to find an attorney. I askedyou and you bring people to the table. There are so many things that touchfinancial planning. When it's done right, that doing it on yourself, you'regoing to miss the boat on lots of it. And listening to thepundits who don't know you, they're not going to give you a great counselfor you. So because you're about helping people build a life for them andachieve what they want. Going back to that road map we talked about twothree episodes ago. So that's just it's just so baffling to me why peopledon't reach out and just say I need some help. When you can wetalk and see if there's a fit. And that's the beautiful thing about reachout to John and Guardian rockwellcom or you can now text him. If youjust text the Word Life Alife to twenty one thousand, you'll get all John'scontact information right on your mobile device. You can say that, you canwatch a video about his Amazon best selling book and you can reach out tohim very easily to schedule a zoom call or a phone call or probably evenin person if somebody were could find you. Yeah, yeah, we still doin person, but we also do everything to meet them completely remotely andvirtually, and you know I do have clients from a Hawaii or Rhode Island, a lot around the Chicago area, and your right here in Florida,where I am now, North Carolina, Colorado. I mean I've got clientsall over and we can make sure they have a great experience. And it'sreally cool as well, because people are mobile, people are moving all overthe place, not just you, but when you work with John, itdoesn't matter where you live. You have the same guy helping you build yourlife all of your life. Think about the consistency of that and how that'sgoing to help, because you don't have to re explain your situation to anew advisor every time you move to a new city. John's with you everystep of the way. Right, Yep, and I will. I will geton a plane, you know I have. I do it all thetime. I'm going to head up to...

Chica, be in Chicago mid monthnext next month, in October, and I see some clients in person.I love it. I think that's great. So he's very personal. That's word. Starts with a personal conversation with you about your plan and the lifethat you want to build. So reach out to financial expert John Browning atGuardian rockwellthcom, or just pick up your phone and text the word life totwenty one. Tho. John, thanks for another great episode. We willtalk to you again in the near future. All right, we'll talk to yousoon. Money really is a big part of our lives, and JohnBrowning can help you and your family learn how to keep money in the properperspective. It's important, but it's only a tool that can help you buildthe life that you want. If you like, John Emil you a freecopy of his book build a life, not a portfolio. Go to John'swebsite, Guardian Rock wealthcom, and click the contact to US link and sendyour request. John Will Mell a copy of his book right to your doorabsolutely free. Thanks for listening to building your life podcast with John Browning.Be Sure to subscribe to this podcast so each new episode will be sent toyou automatically when it's released. Have a terrific day. Nothing in this podcastshould be construed as personal investment advice, and past performance is no guarantee offuture results. Investing is not appropriate for everyone. There is a risk ofloss associated with investing in the markets. No representation or implication is being madethat using any methodology or system will generate profits or insure freedom from losses.Please remember that investing carries risk. Guardian Rock Wealth LLC and it's affiliates arefiduciary investment advisors. Please consult with US or another experienced qualified investment advisor beforemaking any investment decisions and or trying to implement any of the strategies and tacticswe may discuss in any of our publications or podcasts.

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