Worried you’re too old to start investing? Thinking you’re too young? No matter what your age, the financial experts at GenWealth Financial Advisors, an Arkansas firm with locations in Louisiana and Tennessee, want you to think again.
“It’s never too early to start investing, and it’s never a bad time to create wealth,” said John Shrewsbury, co-owner, financial advisor, and Retirement Income Certified Professional (RICPⓇ). “The process is also a lot easier than most people think.”
Unlike other financial advisors, the team at GenWealth prioritizes education, listening, and teamwork — three factors that consistently deliver excellent service to their clients.
Educating for financial success
“We view financial service as a public service,” said Janet Walker, co-owner of GenWealth Financial Advisors and RICP®. “Many people think financial advisors are in it to make money for themselves, but our purpose is to inform and teach. This approach creates a virtuous circle — we supply the knowledge, experience, and expertise to help people work toward their goals, and they pay it forward to help others. Everyone benefits.”
Without trusted advice and expert guidance, many people who are new to investing may make costly mistakes.
“The biggest mistake investors tend to make is allowing emotion to rule their decisions,” said Teresa Arrigo, financial advisor and RICP®. “When there’s a downturn in the market, they often get anxious and cash out, and only later realize the losses they incur from doing so. In these situations, investors will find that they actually have lost money, rather than made it. But if they had had a financial plan in place, they would have ridden the storm out and likely avoided long-term losses on their investments for retirement.”
According to Arrigo, having a financial plan can help mitigate stress and fear. As a result, investors who have one are less likely to sell at the wrong time.
“Our clients don’t usually call us in a panic,” she said. “They know their long-term plan has been prepared to weather these downturns. Our clients know they just need to keep calm and stay the course, because they trust the process.”
Financial strategy customized for your dreams
Active listening is another key aspect of GenWealth’s approach.
“Everyone has different hopes and dreams,” said Shrewsbury. “To figure out how to serve each individual best, we spend a lot of time asking them what they’d like their future to look like. Only when you truly understand what someone wants can you create a plan and strategy to help them toward that future.”
At GenWealth, financial plans are customized to meet the individual needs of every client. Each usually contains three “buckets” to maximize returns while limiting risk.
For clients’ first bucket, some of their funds are invested in conservative, low-risk assets. This pot of money often has a short time horizon, such as five years.
Clients’ second bucket takes on a moderate degree of risk. These funds have a longer time horizon, such as ten years.
The third bucket has the longest time horizon — 15 years, for example. This long-term outlook protects against losses even for higher-risk investments. Why? The longest bear markets in history have lasted less than two years and, on average, the market rebounds to pre-recession levels in 19 months. While this bucket may see a temporary dip, it can be counted on to recover over time.
Capital gains from the high-yield, higher-risk investments in the 15-year bucket are routinely transferred to the more conservative buckets. This offers clients an added layer of protection on their investments, guarding them until they are ready for retirement.
A Whole team at your back
While most financial advisors work as solitary individuals, GenWealth’s clients always meet with teams of at least two financial advisors.
“This means there’s always backup,” said Shrewsbury. “Plus, we find that collaboration helps teams work smarter. Our clients get the benefit of advice from people with different perspectives to cover every angle, because planning for retirement can be complex. The total is greater than the sum of the parts.”
While some investors may believe they don’t need expert advice, this can be another mistake. For instance, they can look up quality information online only to apply it to the wrong thing or under incorrect conditions. As a result, their investments may flounder, and they can fail to achieve their monetary goals.
“Even professional athletes need a coach,” said financial advisor Scott Inman, who served as a Razorback Sports Network football pre-game show host for 13 years. “Tiger Woods has a coach. Professional football players have a coach. Our role is similar. At GenWealth, we provide the experience, knowledge, and skills to set people up for success. We look out for you, give you the necessary feedback, and have your back.”
While the idea of saving for retirement can evoke feelings of stress and anxiety, GenWealth’s financial advisors know how to address their clients’ fears and chart the right path to financial freedom. For people who don’t know how ready they are for retirement, the company offers a free 15-minute consultation meeting that can take place in-person, online, or over the phone.
As an added benefit, GenWealth is extremely flexible with the services they offer. Some clients pay a flat rate to get a custom-designed financial plan that they can implement themselves, whereas others may opt to pay either a small fee or a commission for extra assistance in implementing their plan. Whatever the case may be, GenWealth Financial Advisors find their fiduciary responsibility extremely important, meaning they are happy to accept compensation in whatever way best fits the individual.
“Our goal at GenWealth Financial Advisors is to help position individuals for retirement and wealth creation,” said Shrewsbury. “Long-term financial planning builds a solid foundation for the rest of your life.”
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Securities and advisory services offered through LPL Financial, A Registered Investment Advisor, Member FINRA/SIPC. Financial Planning offered through GenWealth Financial Advisors LLC, a Registered Investment Advisor, and a separate entity from LPL Financial. For residents of Louisiana, all advisory services offered through LPL Financial.