Proof Projects
  • Home
  • What We Do
  • Who We Are
  • Podcast
  • Blog
  • FAQ
  • Contact Us

Outsourcing your worries to a financial adviser.

3/8/2017

 
Outsourcing your financial worries to a financial adviser in Townsville Queensland
As financial advisers, we tend to think of the value we add from a ‘dollars and cents’ point of view.  Until recently, I assumed that the time and energy that we spent thinking, worrying and stressing about our client’s financial situations was only useful in terms of how it helped them achieve their goals.  Until a few things happened recently.
I read an article by a journalist who had arranged to outsource some research tasks to a virtual assistant in India.  As part of the tasks he outsourced, one day he mentioned that he was spending a lot of time stressing about a book deal that was taking a long time to go ahead, and jokingly asked if she could do this for him.  Due to the ‘lost in translation’ effect, the assistant thought he was serious and replied to say that she would set aside time each day to worry about this problem.  The punch line of the article was interesting; the journalist then found that his stress levels went down.  Every time he caught himself worrying about this problem, he would remember that he already had someone doing this for him.

In an ideal world we wouldn’t spend any more time than absolutely necessary worrying about things.  If we’re stressing about something that we can do something about, we should just do something about it.  And if we can’t do anything about it… what’s the point of stressing about it?  The reality is though, we are human, and sometimes we can’t help it.

That’s why the next thing that happened that I found interesting was when I met with my parents (in the role of their financial adviser).  Over the last few years, I had noticed that they seemed much more calm and spent far less time worrying about money.  I assumed this was because they had now reached semi-retirement, and were just in a better financial position than what they had previously been.  When I asked them about this, they kind of agreed but then said something along the lines of: What’s the point of having a son who’s a financial adviser if we’re going to stress about money?  You’re the one who knows what the real issues or problems for us are, and you’re already thinking about this for us.

To me, this sounded extremely similar to the journalist ‘outsourcing his worries’.  Many of our clients have mentioned before about the increased peace of mind they have from regularly meeting with a financial adviser.  I always assumed that this was purely because this meant that they had clear goals, and knew that they were on track to reach them.  I always knew that people didn’t ‘need’ to worry about their money, but what this made me realise is that just because we don’t need to worry about something doesn’t mean the stress goes away.  Now during appointments with my clients, I sometimes jokingly tell them that part of the reason they are paying me is to be the one to ‘worry’ about their money, so there’s no point doubling up by them doing it as well.  This usually gets a laugh, but I also think it actually helps them feel better the next time they start to stress.

Written by Dallas Davison.

Comments are closed.

    Author

    Dallas Davison, Michael Hogue and Ali Hogue.

    Archives

    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    April 2018
    March 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    June 2016
    May 2016
    April 2016
    January 2016
    November 2015
    July 2015
    June 2015

    Categories

    All
    Alice Springs
    Book Reviews
    Budget
    Charters Towers
    Cloncurry
    Contract
    Contributions
    Debt Reduction
    Economy
    Events
    Examples
    FAQ
    Fees
    Financial Adviser
    Financial Planning
    Fund Management
    Goal Setting
    History
    Hughenden
    Inflation
    Interesting
    Interest Rates
    Investment
    Julia Creek
    Lifestyle
    Media
    Money
    Money Over 50
    Mount Isa
    Pandemic
    Pension
    Priorities
    Retirement
    Richmond
    Risk
    Sharemarket
    Superannuation
    Tax
    Travel
    Uncertainty
    Wealth
    Winton

    RSS Feed

​HOME
WHAT WE DO
WHO WE ARE
PODCAST
BLOG
CONTACT US

Important Information
Financial Services Guide
Privacy Policy
Lighthouse Financial Advisers Townsville
​
Tel 07 4772 0938
Email mail@lighthouseadvisers.com.au
45 Ingham Road West End Townsville Qld 4810

Lighthouse Financial Advisers Townsville Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.

Website by Grey and Grey
  • Home
  • What We Do
  • Who We Are
  • Podcast
  • Blog
  • FAQ
  • Contact Us