7 – What is Christian Wealth Management?
Christian Financial Perspectives
English - October 30, 2018 00:15 - 33 minutes - 5 MB - ★★★★★ - 11 ratingsInvesting Business Education Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Join us as we discuss 15 wealth management issues that are critical to the financial well being of most successful families. Not all of them will apply to every situation since every financial situation is unique and based on financial, social, and/or emotional needs.
Click below to listen to Episode 7 – What is Christian Wealth Management?
Episode 7 – What is Christian Wealth Management
Learn about Christian Wealth Management from Bob and Mary Jo.
What is wealth management? Wealth management is a process and does not happen in one meeting but over the course of time. It is a particularly meaty topic, and Christian wealth management is even meatier. Many times, clients and prospects will come to Bob or Mary Jo and ask them, “What exactly is wealth management?”
The term “wealth” in wealth management can be deceiving because many individuals do not consider themselves as having wealth. However, wealth is a term for finances, and it is a concept advisors use to articulate the financial principles and strategies they use as they work with clients.
Join Bob and Mary Jo as they discuss 15 wealth management issues that are critical to the financial well being of most successful families. Not all of them will apply to every situation because every financial circumstance is unique! Each situation is based on individual financial, social, and/or emotional needs.
HOSTED BY: Bob Barber, CWS® and Mary Jo Lyons, CFP®
Mentioned In This Episode
Christian Financial Advisors
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Bob Barber, CWS®, CKA®
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Mary Jo Lyons, CFP®, CKA®
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EPISODE TRANSCRIPT
[INTRODUCTION]
Bob: Welcome to Christian Financial Perspectives, a podcast where we talk about ways to integrate your faith with your finances. This is Bob Barber.
Mary Jo: And I’m Mary Jo Lyons.
Bob: Are you ready to learn how to apply biblical wisdom to everyday financial decisions?
Mary Jo: Join us as we look at integrating your faith with your finances. If it’s your first time listening, welcome to our podcast, and if you’re a returning listener, welcome back.
[EPISODE]
Bob:
Bob:
Hello, Mary Jo. You doing all right today?
Mary Jo:
I’m doing great. Bob, how are you doing?
Bob:
Well, we’ve had some more rain here in Central Texas, so I’m really excited about that, and I’m really excited about today’s program because we’re going to be talking about wealth management, but we’re definitely going to be talking about it from a different perspective.
Mary Jo:
Yes. Before we get into today’s discussion, there is something that I wanted to talk to you about and I just wanted to get your perspective on something before we go too deep. We know that the Bible, it’s an authority on many subjects, but what about money and investments? How can teachings from thousands of years ago apply to today’s sophisticated economy? How can the Bible compare to all the noise we hear 24/7 on all the financial news outlets?
Bob:
You’re asking me that.
Mary Jo:
You’re the voice of wisdom, aren’t you?
Bob:
I’m like a loaded gun when you ask that kind of question because I believe the Bible is so full of wisdom, and it has so much to say about money management and wealth management. I mean the Bible is just full of scriptures, hundreds and hundreds of them. And matter of fact, there’s a couple of thousand of them. But let me share a few scriptures that I really just want to take to heart today. Like Proverbs 15:22 is one that speaks in the Bible that, “Plans fail from lack of counsel, but with many advisors they succeed.” Hey, this is one of my favorite scriptures when it comes to wealth management and applying that scripture to wealth management. None of us is an Island. We need one another, and the Bible speaks about how we need one another. We had a whole show on how to seek wise counsel. Now, I’m a big Proverbs guy, so I’m sharing some of these scriptures from Proverbs like Proverbs 13:11, “Wealth from get rich quick schemes disappears quickly, but wealth from hard work grows over time.”
Mary Jo:
I think I heard my dad tell me that a time or two.
Bob:
Yup. Yeah, I think I did the same thing. That is a wealth management scripture. It says it right in there, wealth from get rich quick schemes disappears quickly. Then there’s Proverbs 21:5, “Good planning and hard work leads to prosperity but hasty shortcuts lead to poverty.” And then we’ve got Hebrews 4:12-13 that just really speaks about the word of God and that the word of God is alive and powerful. “It’s sharper than any two edged sword cutting between soul and spirit, between joy and marrow. It exposes our innermost thoughts and desires and nothing in all creation is hidden from God,” including our finances. It doesn’t say that in there, but I kind of added that part, “And everything is exposed before his eyes and he is the one who we are accountable for.” So when it comes to wealth management and how we handle everything that God’s given us, we’re accountable to God, how we’re handling that.
Mary Jo:
Most of the scriptures that you read for us, they all mentioned hard work and that kind of ties well into wealth management because most of us have accumulated wealth through our hard work. I mean not always, but for most of us it’s come from our earnings over the years. We’re going to kind of tie those together. Wealth management generally by itself, it’s a meaty topic, but when you throw in Christian wealth management, it’s even meatier. And I hear clients, they ask me all the time, “Exactly what is wealth management?” So most don’t think of themselves as having wealth. Wealth managements is a concept that we as advisors use to articulate the financial principles and strategies that we use as we work with our clients. It’s very much a process and it doesn’t happen in one meeting, but it happens and develops over the course of time. Wealth management is a discipline that incorporates financial planning, investment management, tax planning, and financial goal setting. We look at it as a very holistic approach where we’re coordinating all the moving pieces and parts of your financial life. And from there, we’re able to provide solutions that will help you achieve your objectives. Those solutions are both suitable for the situation and in our case, they’re in your best interest always. And in other words, we are looking at the whole enchilada.
Bob:
You sound like a South Texas girl when you say that.
Mary Jo:
I always look forward to my Mexican food on Friday nights.
Bob:
So wealth management is not just the enchilada, and it’s not just the taco and it’s not just the beans and it’s not just the rice and it’s not just the guacamole, it’s all of it.
Mary Jo:
It’s the Mexican plate.
Bob:
Today, we’re going to be talking about 15 of those wealth management issues, but Christian wealth management adds another layer on top of that because as we look at all these issues, Christian wealth management is doing all of that in a way that brings glory to God and that is grounded in his word that allows us to integrate our faith with our finances. You and I have said that many times and that’s what we’re all about is integrating our faith with our finances.
Mary Jo:
Absolutely. And in a true wealth management approach, which is what we offer at Christian Financial Advisors, our clients develop a deep and trusting relationship with us as their advisor. We work with them to understand their entire financial picture, their goals, their priorities, what matters most to them, what their feelings are about money. And then we lay out options and we discuss the pros and cons of each of the options with our clients and what those approaches mean. So, we serve as a financial advocate and most importantly a trusted fiduciary. You were talking a lot about Proverbs earlier, Bob in Proverbs 15:27, “A man of understanding will acquire wise counsel.” I think you shared that earlier.
Bob:
Another thing about wealth management as we talk about this, Mary Jo, is that every person is different. So every situation is unique and we’ve got to customize the approach to the way we look at wealth management to fit that particular person or family’s individual needs. Because financial advice is really about communicating and digging deeper, and we like to ask a lot of questions to cover a particular family’s financial, their emotional, and their social needs so that we can understand how to lead them on this wealth management journey. And truly, as a trusted financial advisor, it’s about developing a clear and compelling financial vision for that family. And when necessary, we look to bring in other experts as a wealth management process, like an attorney, a CPA, an insurance specialist, and many times even a planned giving specialist. I know we had a program on giving and that’s an example. Maybe somebody needs a donor advised fund or a charitable remainder trust or a charitable gift annuity. So, we can bring in a specialist that can integrate that with the full wealth management picture.
Mary Jo:
They call this a deep discovery process and that’s what we hope to do with our clients is discover everything we can about them so that we can make the most appropriate recommendations for them. And at Christian Financial Advisors, we work with our clients on what we described as the 15 wealth management issues, so we’re going to run through those shortly, but you can also find these on our website ciswealth.com or you can get a free copy by calling us at 877-71-TRUTH. That number again is (877) 718-7884 and these wealth management issues are key issues that are critical to the financial wellbeing of most successful families, not all of them apply to everyone in every situation. As we mentioned earlier, we take a very disciplined approach to addressing these. We can’t cover them all in one meeting, but over the course of the relationship and as the clients give us their priorities, we’ll begin addressing them throughout that relationship and as you move forward in your quarterly meetings, annual reviews, that sort of thing.
Mary Jo:
One of the things as a financial planner, I have the opportunity to give clients a vision of what they can become financially. So money becomes a tool. My purpose in going through the financial planning process is that by working towards these goals, the clients become a better steward of their God given resources. So when it comes to finances, there are many areas that aren’t black and white in scripture, but there are a lot of principles that we can we follow. We’ve shared a lot from Proverbs already and in Proverbs 21:5, “The plans of the diligent lead to profit as surely as haste leads to property.” It’s another good one.
Bob:
Good financial advice always has its roots in biblical wisdom, and financial decisions can have a lot of emotional traps attached to them if we’re not careful, but a trusted financial advisor can help you navigate those and avoid those emotional drivers that get in the way. So, think about it this way. When you think emotionally, it’s hard to think rationally. Really, you can’t think rationally if you’re just thinking emotionally. Life really is about decisions, and decisions determine our destiny. Everything we do while living here on earth can have eternal consequences. We should always ask ourselves, what would God have me do in this wealth management decision? Or as the old saying goes from a long time ago, WWJD, I remember when we used to wear the WWJD bracelets. Really pray and seek God’s word in financial decisions. For a Christian, a financial decision is a spiritual decision and a spiritual decision is a financial decision. There’s a good scripture here from James 1:5-6 out of the NIV, “If any of you lacks wisdom, he should ask God who gives generously to all those without finding fault, it will be given to him. But when he asks, he must believe and not doubt because he who doubts is like a wave of the sea blown and tossed by the wind.” I will say this many times. I’ve just had to stop and say, Lord, I need your wisdom here because I don’t understand what this is trying to tell me, but give me your wisdom.
Mary Jo:
Every time we do take a moment to stop and pray when we find ourselves in a complex situation or somewhere where we’re unsure, I think we always find a little bit more clarity. Your use of money reflects your goals, your values, your priorities, and of course your spiritual convictions. By making good financial decisions, you can bring balance into your life. This allows you more time for what matters most, and I think that’s relationships. Purposeful planning helps us become accountable, which leads us to peace of mind. That is true wealth. So Bob, we’ve been talking a lot about wealth management as a whole. Why don’t we just kind of begin to run through those 15 specific wealth management issues and how they relate to biblical principles.
Bob:
Now, that was quite an introduction to get to the 15 wealth management issues. So here we go. All right, we’re going to go through these pretty quickly. But the nice thing about as we talk about these wealth management issues is that we’re going to have different programs on nearly each one of these on the podcast. The first wealth management issue that we’ve had an entire program about is estate planning. And if you remember, we’ve made that podcast called “Estate Planning: The Wrong Way, The Right Way”. And that might be something you might want to go back and listen to. Proverbs 20:21 says, “An inheritance gained quickly at the beginning will not be blessed in the end.” So ask yourself this question. Have you created a wise plan for handing off your wealth to your heirs and ministries you care about after you’re gone?
Mary Jo:
Another thing we touched on in that episode was multigenerational planning. One of the things that families need to think about in the wealth transfer process – are your heirs qualified to handle that inheritance wisely and from a biblical perspective. In Deuteronomy 4:9, “But watch out. Be careful never to forget what you yourself has seen. Do not let these memories escape from your mind as long as you live and be sure to pass them on to your children and grandchildren.” So as you think about your family, your situation, and your heirs, are all of them prepared for it? Are all of them the best choice to receive that inheritance? So, there’s ways you can plan and spread it out. You don’t have to give it to them all at once, but there’s all kinds of unique things you can do to better prepare the next generation.
Bob:
And that’s what we help you do. Okay. The third strategy that we look at of the wealth management issues is tax planning. So you have to look at this as part of it. An example, is your tax burden really high, like more than $50,000 a year? And if it is, we can do a lot of planning that can many times save you $1,000, $5,000, maybe even $10,000 in good tax strategies. But I do want to emphasize on this wealth management issue is where I like to bring a well qualified CPA in, and if you don’t have a CPA then we can help you get one. But if you do have one, we’ll work with that CPA as well. Mary Jo, I think we both want to say here, too, that we’re not CPA’s and that you need to seek the advice of a CPA with complex tax planning issues.
Mary Jo:
Because we do not give tax advice.
Bob:
That’s exactly right.
Mary Jo:
And I know that our compliance folks want to hear us say that. We’re staying out of jail.
Bob:
A scripture we like to use that goes with tax planning is from Romans 13, “For the authorities do not strike fear in people who are doing right, but in those who are doing wrong, would you like to live without fear of the authorities? Do what is right and they will honor you.” That’s a great scripture that goes with tax planning because we want to be totally honest with our tax planning. Of the 10 commandments about stealing and lying, 9 and 10 of the 10 commandments – that goes kind of under tax planning because we want to do everything above board.
Mary Jo:
We’re talking about legal tax planning.
Bob:
Yeah, legal. Exactly. Totally. Totally legal. Not illegal. Matthew 22:21 it’s interesting when they were trying to trap Jesus and they said, should we pay taxes? And he took that coin and he said, who’s picture is on this coin? And they said, Caesar. And he said, then give to Caesar what belongs to Caesar and give to God what belongs to God.
Mary Jo:
We are going to be doing a special podcast on tax planning, but it’s also something that should be thought about throughout the year, not just in April as you’re preparing this year’s taxes. You want to be thinking about the year to come. Towards the end of the year, make sure that you are doing everything you can so that you’re well set up for the following tax year as you prepare your return. Also, many of our listeners are small business owners and they are doing tax planning on a quarterly basis. It’s something that we need to think about continually.
Bob:
So many people come to me with two weeks to go in the year or like you say, two weeks before April 15th, and they want to do all of their tax planning. And it’s like you say, you’ve got to do this way in advance all year long and it can result in thousands of dollars in tax savings.
Mary Jo:
That can be big over time, for sure. So our next one is planning for risk and liabilities. Do you have a plan in place to shield you, your family, and your business interest from major liabilities and lawsuits. In 1 Peter 5:8, it reads, “Stay alert. Watch out for your great enemy, the devil. He prowls around like a roaring lion looking for someone to devour.” I think I shared with you, Bob, one of my little stories. Last year, around Christmas time, I was coming home into the neighborhood and I came around the corner and I looked up and I saw our neighbor. This is the same neighbor that has a pool in their backyard and they have dogs so they should be having a liability policy just for those reasons. But I looked up and he had another neighbor and they were both on the roof on ladders, installing Christmas lights. So I roll down the window and I said, Jeremy, do you have a liability plan in place? And he had one the next day.
Bob:
It is amazing,
Mary Jo:
We’re always wearing those hats.
Bob:
I have Ron First from Christian Insurance Services help us so much and it’s amazing when he looks at homeowner’s policies and automobile policies and we even had in one of our newsletters “are you assured that you have the right insurance” and it’s amazing what he finds all the time cause people buy insurance just based on price and you should never do that. By the way, you didn’t say in 1 Peter 5:8 to paraphrase to today’s – watch out for the great lawyer. He prowls around looking for that lawsuit looking for someone to sue.
Mary Jo:
Sharks, they’re out there.
Bob:
You gotta watch them. The fifth element that we look at of the 15 wealth management issues is planning for incapacity like a death, disability, longterm care. This is where you look at disability policies. You look at your life insurance. You look at longterm care policies to assure that you’re taken care of. Mary Jo, you can really attest to this with your mom, can’t you?
Mary Jo:
Absolutely. November is Alzheimer’s awareness month, so we’re definitely going to be exploring that topic in more detail, but it’s something I’m very passionate about. A lot people don’t realize disability and how important that is because if you’re a surgeon and you get a tremor in your hand, you can no longer do surgery. I have one neighbos who’s an artist, so you have to protect that and that’s where that disability insurance comes in. We probably don’t talk about that enough.
Bob:
Well, I can tell you just last year with the cancer that Rachael has been going through – my wife for those of you that don’t know my wife – last year because she worked in the business a lot and she’s not been able to work in the business near as much with her cancer. Now, that’s gone now and that’s been taken out, but we have a disability policy and we filed for disability during that time that she was having all that chemo and radiation. A question you’ve got to ask here is do you and your family have a plan in place that if you were incapacitated and lost your income, you’re going to be taken care of. And a scripture that I like to go with that is from 1 Timothy 5:8, “If anyone does not provide for his relatives, and especially for his immediate family, he is denied the faith and is worse than an unbeliever.” Pretty tough scripture, but it talks about how we are to provide and not be a burden on those that we love .
Mary Jo:
In Ecclesiastes 11:2, “But divide your investments among many places, for you do not know what risks might lie ahead.” Another good one.
Bob:
Why don’t you go on to number six and then I’ll get into number seven.
Mary Jo:
Number six, budgeting and debt elimination. Do you need to create and implement a budget strategy to eliminate debt and create positive cashflow? Proverbs 27:23-24, “Be sure you know the condition of your flocks. Give careful attention to your herds, for riches so not endure forever and a crown is not secure for all generations.” So we’ve talked about debt in the past, and we’ll talk about that in more detail, but certainly debt, as you always say, Bob, it preys on the future.
Bob:
It really does. When you take out a lot of debt, you’re assuming that you’re going to have a really bright future – when none of us know the future – that you can pay that back and the budgeting. I’m just amazed at how many people really don’t know what their budget is and how many retirees we start to work with. That’s the first thing you got to know is what is your budget. Like he said there, know the condition of your flocks. Number 7 out of the 15 is doing charitable giving and planned giving and do you really have a heart for giving? Would you like to create a legacy that shares your values with your family and others both now and after you’re gone? And this is where we can use things like a donor advised fund. I really liked the scripture from Matthew 25:35-40. It talks about, “When someone was hungry and you gave him something to eat and they were thirsty and you gave them something to drink and they were a stranger and you invited them in, they needed clothes and you clothed them. They were sick and you looked after them. They were in prison and you came to visit them. They’ll look at that and say, Lord, when did we see you hungry and feed you or thirsty or give you something to drink? When did we see you a stranger and invite you in? He looks back, says whenever you did something for the least of these brothers and sisters of mine, you did for me.” So, when you think about charitable giving and when we’re helping to feed the poor and the downtrodden and the helpless, we’re serving God.
Mary Jo:
Absolutely. And Bob, I like to share that we can plan for that during life and at death. It’s just kind of another way to say now and in the future. So that brings us to investment planning. Do you have investment strategies to meet your goals like retirement, maybe a second home for your family, your longterm care needs, miscellaneous major expenditures, maybe a new car in the future, and any other specific goals like maybe caring for elderly parents whenever that may be. And when we talk about investment planning, we want to make sure that we’re coordinating that over all the various buckets, all the various types of accounts, types of investments, types of managers, and types of funds. We want to make sure those are all working together so we make sure your entire portfolio is balanced, not just each little account. We have to correlate that as a whole. From Ecclesiastes 5:19, “Moreover, when God gives someone wealth and possessions and the ability to enjoy them to accept their lot and be happy in their toil, this is a gift of God.” And here’s another one from Proverbs 13:11, “Wealth from get rich quick schemes quickly disappears. Wealth from hard work grows over time.” I think we shared that earlier, but it definitely implies to investment planning as well.
Bob:
You know what’s interesting, Mary Jo, is that we had seven wealth management issues before we even got to investment planning. Yet, most people think of wealth management as just the investment planning piece of the puzzle.
Mary Jo:
Well, there are advisors that only look at that, but we look at your entire financial background and your entire financial picture, not just your investments. That’s only a piece of it.
Bob:
So I want to say before we go into 9, 10, 11, 12, 13, 14, and 15, that as you’re hearing all these, we know that this can just be nearly information overload. It’s like, man, y’all are bringing an elephant to the podcast today and asking me to eat this whole thing. No, we’re not. We just want you to hear all the different issues of wealth management, and we do want you to know that you can go to CISwealth.com on our website and you can look up wealth management and see all of these issues right there. It’s very simple to see, and we have a lot of information on all of these wealth management issues. So, let’s go into the ninth issue. It’s what we call education and family support. Would you like to be able to fund your children or grandchildren’s college education or create future funding for others with special needs? That’s the question behind that one that we like to ask because many of you may have a niece or a nephew or granddaughter or grandson that may have some special needs, and that’s where this issue comes into play.
Mary Jo:
Yes, absolutely and you want to make sure that, as you’re looking at that family support, do you have in writing successor custodian for your children if something were to happen to you. They want to make sure that you’re in control of that decision and not the state.
Bob:
And I must say here, before we go on the next one, this is what I like about using a corporate trustee program too. This 9th wealth management issue goes with possibly estate planning. I mean maybe not the children or grandchildren’s college education, but actually it does because then you can have a corporate trustee come in and help you on that and that’s a whole other subject. We’ll do another podcast on that.
Mary Jo:
Absolutely. That brings us to titling and beneficiary designations. Are all of your accounts titled properly to follow your estate plan? When the attorneys drop the paper, they typically will give you direction as to what to put on your beneficiaries, on your individual retirement accounts, on your 401k at work, but all your various financial accounts. But what happens is people bring those documents home, they stick them in a drawer, and they forget that step. I can’t tell you how many times I have reviewed those for clients and the ex spouse is still the beneficiary and the current spouse and the current children are not taking care of. We just encourage everybody to make sure those are current.
Bob:
It’s just like estate planning. It needs to be looked at every three to five years and updated with your estate plan. The 11th wealth management issue that is a very, very popular one is retirement planning. Are you sure that you have enough funds for retirement? Mary Jo, we just had someone come in today and they’ve been saving for 25 or 30 years and thought that they could retire right now, but it’s hard to retire on just a hundred thousand dollars.
Mary Jo:
Ooh, so how much is enough?
Bob:
To me, $100,000 is only going to generate, safely, about $4,000 a year or around 300 $350 a month. If you’re retiring at 60 or 65, so you need more funds than just a hundred thousand dollars in retirement if you don’t have a pension plan that’s going to be supplementing you. This person’s really not ready to retire like they thought they were.
Mary Jo:
I was just going to add if you want to live on more than what social security provides you, and not everybody’s eligible for social security. So, you have to be thinking about that and time to save.
Bob:
When it comes into retirement planning, too, I do want to mention this. As a Christian, and this is a Christian financial podcast, retirement only appears in the Bible actually just one time. Work appears in the Bible – if you just put like in Bible Gateway – you’re going to see it appears over 400-500 times. So, the Bible doesn’t speak much about retirement, and I think we’re going to really look at retirement differently over the next 10 to 15 to 20 years as people, quite frankly, don’t have enough to retire on. Retirement kind of came about from the Great Depression and trying to get older people out of the work system so younger people could come in. In the Bible where it does appear, in Numbers 8:25-26, “But at the age of 50, the priest shall retire from their service in work and not working longer. They may, however though, assist their brothers in the tent of the meeting.” Some versions say they shall teach their brothers. It’s really about taking that wisdom and helping others at a certain age.
Mary Jo:
I think you’re right, Bob. We’re going to see this label change in years to come, and we’ve been pointing our listeners to our website. They can also find some previous newsletters that we’ve had there. I know I recently wrote an article in that regard that talked a lot about what you were mentioning and the fact that the Bible really refers to work and God intended for us to work and work in joy. Retiring to a life of leisure was not really in the cards. We’re in a different place now. Some food for thought and some things to think about.
Bob:
So we’re down to just the last three or four of the wealth management issues and we’re going to get through these pretty quick. Number 12 of the 15 wealth management issues, which is another big one we see that people are not doing, is essential document and account integration. When you ask somebody, can you instantly access all of your financial information, like your insurance policies, your wills, your trusts quickly, usually they cannot. They have got to go home and try to find it. Or maybe someone has a box at home that has all of that information in it. Today, what’s so great about technologies, you can scan these kinds of documents and put them into a cloud. We have a system here with an app on your iPhone. And I remember when my wife was going through surgery for her cancer a few months back, when we needed a medical power of attorney, all I had to do is hit my app and pull up that medical power of attorney and it was right there ready to go. And that’s what we’re referring to when we talk about essential document and account integration and how important is is to be a part of one of your wealth management issues.
Mary Jo:
And we make that secure portal available to our clients as a benefit for working with Christian Financial Advisors. And that brings us to executive compensation. Are you an executive with incentive plans including stock options, supplemental executive retirement plans, and non-qualified compensation? Again, this probably doesn’t apply to everyone, but my husband has gotten deferred compensation, for example. And in the past we’ve both had access to stock options. That requires a whole level of expertise and certainly something we’re prepared to help clients with.
Bob:
And the 14th one is business succession planning. Again, this will not apply most people, but you’re a business owner, have you created the plan for the transition of your business interest someday? I can really help you here. I’ve owned my own business for many, many years and we do have a business succession plan in place and I know the right attorneys to bring on board as part of the wealth management team. If you do own a business, how to hand that off to the following generation or how you could sell that business.
Mary Jo:
And last but not least, that brings us to holistic financial planning. And would you need a holistic financial plan that integrates all the wealth management issues that pertain to you that we’ve been talking about? This is something that we can look at as a whole. Some people have a very complex situation and they may need a comprehensive financial plan, but some people really may just have a couple of these issues that apply to them. As a Certified Financial Planner, part of our financial planning offer at Christian Financial Advisors, we can do an hourly consultation where it’s a minimum of three hours, but we can touch on say two to three of these issues and really dig deep on those and do it over for just an hourly fee. That is separate and above for somebody that maybe doesn’t need investment management, but they do have a few planning needs that they want to cover. Give us a call if that pertains to you, and I’d be happy to share more details with you
Bob:
As we’re coming to the very end of our program, you’ve heard us talk about all these different wealth management issues. I’m going to pop through them real quick, just one by one, and this shows the importance of why you need a good financial advisor that’s going to look at all of these issues. Estate planning, multigenerational planning, tax planning, planning for risk and liabilities, planning for incapacity, budget and debt elimination, planned and charitable giving, investment planning, education and family support, titling and beneficiary designation, retirement planning, essential document and account integration, executive compensation, business succession planning, and holistic financial planning. Those are all the areas of wealth management and we do that from a Christian perspective and helping you to understand how to put this all together as a really nice puzzle. Then, it’s monitored on an annual basis. Anything you want to say here at the end, Mary Jo?
Mary Jo:
They can find more about this on our website ciswealth.com. You can get a free copy by just giving us a call at 877-71-TRUTH or (877) 718-7884.
[CONCLUSION]
Mary Jo: You’ve been listening to Christian Financial Perspectives. Join us as we explore more about how to apply biblical wisdom to your financial situations.
Bob: To make sure you don’t miss any of our podcasts, you can subscribe to Christian Financial Perspectives on iTunes, Google Play, or Stitcher. To learn more about integrating your faith with your finances, visit out website at ciswealth.com or call 830-609-6986.
Mary Jo: That’s all for now.
[DISCLOSURES]
Comments from today’s show are for informational purposes only and not to be considered investment advice or recommendations to buy or sell any company that may have been mentioned or discussed. The opinions expressed are solely those of the hosts, Bob Barber and Mary Jo Lyons. Bob and Mary Jo do not provide tax advice and encourage you to seek guidance from a tax professional. Investment advisory services offered through Christian Investment Advisors Inc. DBA Christian Financial Advisors, a registered investment advisor.