Giesting Financial’s Colt Ryan recently joined Retirement News Online, a news outlet that hosts financial experts and professionals in discussions about retirement planning.
He was first asked how he manages different pain points in the financial planning process, such as volatility, inflation and low bond yields. Colt said:
There’s a lot going on in the market right now. As an investment professional, I know that for the average consumer, it can feel overwhelming. Being able to manage that and determine which information is true and which is just noise in the media is crucial. It’s very easy to become attracted to the shiny objects out there right now, but for a lot of clients I work with, it’s about staying the long-term course with their investments. I keep them from being derailed. We build plans for the next 10, 15 or 20 years. It’s not about getting rich in the next three to six months.
At Giesting Financial, we assemble custom financial plans for the long-term. We want all of our clients to be prepared for long-term success, and we do that with an approach based on protection. While we all dream of getting rich quickly, the reality is, most of us don’t. What is realistic, however, and what we believe is possible for every client is a long-term vision of sustained income. We can help you remain focused on your long-term goals with a clearly established path to help you get there.
Colt was then asked how he assesses each individual client’s situation and determines the proper asset allocation. He said:
When we work with clients, risk tolerance is a big thing for asset allocation. We also want to know what their goals are. For most, it’s retirement. Most people don’t want to work forever, so it’s about finding out how long you have until retirement. It’s also about when you need to access the money. Some people don’t like the market roller-coaster ups and downs through their investing career while other people have a higher appetite for risk. When we build our customized plans, we’re thinking about that, and we’re thinking about their time horizon to retirement. We ask those questions and really dive in.
We also have different software to show clients what would have happened to their portfolio during scenarios like the 2008 to 2009 crisis, and we ask them if they feel comfortable with the portfolio we recommend. There are a lot of different pieces to the puzzle. It’s not five questions to determine if you’re a balanced investor. There’s more that goes into it, and I want to make sure my clients have a nice, enjoyable ride throughout their entire investing career.
Financial planning is a completely custom process, and part of that process is analyzing each client’s appetite for risk. A lot of the work that goes into planning comes through asking questions to each client and truly getting to know them. Then, it’s all about implementing a plan that the client is comfortable with and confident in. Our goal is for you to understand your plan just as well as we do. We want you to understand why we place so much focus on protection and how we can help you weather major financial storms.
Finally, Colt was asked about the elements of a customized plan and what it takes to diversify a portfolio, to which he responded:
Customized investment planning goes beyond just having a simple asset allocation between stocks and bonds. A lot of times we have clients who want to get access to things like private equity, annuities or real estate. Not everybody wants to just invest in the stock market. You want to have a plan that encompasses everything within your financial life. I also believe you should plan first then invest second. Once your plan is set up and you can say “I need X amount of dollars in the next 10 or 15 years,” we help you find the most efficient way to get that money. Having different investments in your plan and having it be what you want as the client is my ultimate goal for a customizable plan.
Giesting Financial offers different asset classes that allow you to truly customize your portfolio and find a proper allocation that you feel comfortable with. We also focus on creating the plan before we jump into investments and take advantage of growth opportunities. That gives us a much better chance to calculate our approach and help you make the right decision for your circumstances.
To watch the entire video featuring Colt Ryan on Retirement News Online, you can click right here.
If you’re ready to take the next step with us, please give us a call. You can reach Giesting Financial in Batesville, Indiana at 812.933.1791 or in Columbus, Indiana at 812.565.2726.
This article is for informational purposes only and not to be construed as financial or investing advice, nor is it a replacement for real-life advice based on your unique situation.
Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd., Suite #150, Overland Park, KS 66211. PCIA doing business as Prime Capital Wealth Management (“PCWM”) and Qualified Plan Advisors (“QPA”). Securities are offered by Registered Representatives through Private Client Services, Member FINRA/SIPC. PCIA and Private Client Services are separate entities and are not affiliated.