Financial literacy and independence is an absolute necessity of life. Many individuals are in need of assistance with savings, investments and retirement, and Richard Blair is just the person to help one develop a plan for success. He founded Wealth Solutions, a Registered Investment Advisory firm, with the vision of making a profound difference in the lives of families, business owners and individuals. Richard Blair prides his success on exercising a “Three Pillars” approach to assisting his clients in the greater Austin, Texas area.
Pillar one is focused on consulting and financial planning. It is important in this phase to build trust with the client and to determine what changes need to be made in what area of finances. Determining where the client is and where they want to go, as it pertains to strong areas, risk factors and room for growth, is very critical in this stage. Financial planning incorporates a variety of strategies. Clearly letting the client know what the plan entails for achieving results is a great way to build trust and rapport.
Pillar two involves developing and implementing a plan that the client will capitalize on. Now that the evaluation of the client’s current situation has been completed, Richard Blair will focus on comprehensive planning by targeting more than one need to maximize results. For example, most people plan for retirement first, and contemplate saving for a child’s college funding. Instead, he will evaluate long-term and short-term needs in order to save for both simultaneously.
At this point, the needs of the client has been established and the plan is active. While a close eye is kept on the portfolio’s expansion and liquidity, it is now time to introduce Pillar three – insurance. There’s no time like the present to take action in preparing for the unpredictable. Rich Blair will be sure to introduce long-term care insurance, life insurance and annuities, which are suitable forms coverage of the client.