In this group of people, do you see anyone you can trust? Perhaps. I see some well dressed, well groomed people from a variety of backgrounds. Sure, I think I could strike up a conversation with a large percentage of these people and find some with common interests, common backgrounds. Perhaps in this large group I would find a friend.
This image makes me think back to starting a new job or moving to a new place. All these great new faces and people in front of you but how do you determine which person will eventually become a friend or even more someone close enough to trust.
Now, what if I asked you to find someone in this group who you MUST trust with your entire financial future. You know nothing about these people – but, if I told you they had a little education in the financial industry and work for a leading retirement planning firm – could you immediately pick the ONE person with the best background, who has done the most research, will listen and understand your individual situation and personal plans for you financial future and ideas on retirement, knowing that they alone control all of you retirement funds, and then immediately trust that person?
What if you could not pick the best person but instead were assigned to someone, who you will likely never meet, and that person is then in charge of managing your money, your financial portion of your retirement plans.
This is a reality for many working Americans.
Here is my personal example. First, let me introduce myself. My name is Jessica Webb – wife of Chad Webb and daughter-in-law of George Webb. I am excited to be helping in our family business and in the near future will also be licensed to help you plan your financial future. For now, I am a proud Pediatric Nurse. I have been a nurse for 11 years and I love being a nurse. For seven years, I worked at a large hospital in South Carolina. On my first day of orientation at age 26, I was given papers to fill out for my retirement plan. I don’t remember all of the details exactly, but I know I was required to contribute a certain % of our pay to our retirement plan. Seemed reasonable. I was required to meet ONE TIME with a lady who sat beside me as I selected my contributions – how I would like to divide up my contributions into stocks, etc. Remember, I am a NURSE and while I am intelligent, at that time I had not done any research on the best options to gain the most money. The person assigned to assist me was not able to give me advice but could tell me which options are more risky and which are more stable. I selected a few of each.
This was in 2007. Once a quarter, I received a letter in the mail detailing my contributions, my employer contributions and the percent gained or lost. By 2008, I was watching my required contributions decrease at a shocking rate. A quarterly statement that I received in January 2009 brought tears to my eyes. Luckily for me, I was still young and while I didn’t completely understand, I assumed I had plenty of time to bounce back. For people like my father, who was nearing the end of his working years, these decreases were detrimental and still have effects on retirement plans nearly 10 years later.
Fast forward to 2016. We have moved back to North Carolina and I have started a new job; however, a good chunk of my hard earned money is still in a retirement fund in the state of South Carolina, managed by a well known insurance company. My relationship with them is very limited – I get quarterly statements showing how my money has gained or lost. I am in the process of moving this money over to a better, safer product (that Triple Play can help you with as well!). My plan to change this money over has been ongoing for sometime, but this recent mailing likely sealed the deal.
I recently received this mailing and found myself laughing at the irony of it all.
A person, “Frank,” who I have never met is my “financial services representative” and it’s his goal to give me advice, for all of my financial needs. He doesn’t even know my financial needs! The letter is only being sent because the company that had been managing my retirement savings is changing and Frank is now in charge of my account. Now, like the picture of the large group of people above, who do I trust? Do I trust Frank, a representative who I have never met and likely will never meet face to face? Perhaps he is their best representative. Or, perhaps he is their bottom of the totem pole, poorest performing employee. My point is we will likely never know. This is also not meant to be anything negative toward Frank – he is doing his job – and likley doing a great job. My only point is that over the years I have learned that I simply cannot afford to trust a faceless representative, who I have never even talked with, with controlling my financial future. I have learned to take a greater responsibility and to research my options and seek out a licensed person who will listen, make recommendations and assist me with helping my financial future become a reality.
My previous employer required a certain % to be donated to their company of choice. This company has now changed (a few times actually) and now Frank is in charge of all of my hard earned money. The simple truth is that I have been putting a large chunk of my money and my blind trust into the hands of people that may or may not be qualified to help me with MY plan for my financial future. It’s time for me to change this. I have to find someone I can TRUST and I would encourage you to do the same! Maybe your employer plan is absolutely right for you but wouldn’t be great to speak with someone on a more personal level to determine what is best for you?
I realize that Triple Play Wealth is my family business and I am lucky that I have two very trustworthy family members to advise me on the best way to roll this money into a better plan that more closely matches my financial future. I realize not everyone has this luxury in a family member, but, I hope that you will see that we are a small business with a reputable past and our licensed agents are hear to listen, recommend and guide you along your journey. No matter what you need assistance with – college planning, retirement planning, 401K rollover, social security claiming strategies, estate planning – we are hear to sit down, listen and assist.
I don’t know Frank – he may be the best in the business – but, I do know the work ethic and heart of Triple Play Wealth and I can promise you that at Triple Play Wealth you will able to walk away knowing that you can trust us with helping you along the path to your plan for your financial future!
Trust us! Trust Triple Play Wealth!
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