Mark Kenney - retirement

One of the most popular questions that we get from our clients is, “How are you different?” It’s a simple question but difficult to explain in 10 words or less. The quick answer is that it’s not just the people, our portfolios, or our years of experience on our teams. It’s all of it… and more. 

Here to help me explain what sets SHP apart from other firms is VP of Advisory Solutions, Nick Nelson. Nick started at SHP in 2016 and has been instrumental in helping us grow our business to what it is today.

So today, we’ll discuss how we’ve been a culture that prides itself on delivering an outstanding client experience by putting our clients first and going beyond helping them achieve personal or financial goals. You’ll also hear why all of our teams are solutions teams and how each team is making a difference in the growth of our business and our client’s lives.

In this podcast discussion, you’ll learn: 

  • How being a good culture fit is so important for new hires.
  • Why the Advisory Solutions team is such an integral part of client experience.
  • The ripple effect of growing your firm with trusted and dedicated team players.
  • How SHP’s 3rd party relationships enhance the client experience.

Inspiring Quotes

  • Of course, we’re fiduciary advisors from a legal standpoint but I think doing what’s in the best interest of the client goes well beyond just a fiduciary duty. It’s just about being good people, connecting, and developing a formal relationship professionally but also outside of the business world too or outside of the office.” – Nick Nelson

 

  • “The trust for me is that not only do you guys trust us but we trust you too. You treat us right. You make sure that we have the training that we need. We get the resources that we need in order to do our job at the highest level. And when you give that to people, when you give people a career path and you can show people the long-term vision of what it’s going to be like working at SHP, people are going to stick around. People appreciate that.” – Nick Nelson

Resources

Matthew Peck: Welcome, everyone, to another edition of SHP Financial’s Retirement Roadmap podcast. I’ll be your host today, Matthew Peck. I certainly hope everyone is enjoying their winter and looking forward to spring. I know I am, although I do absolutely enjoy the winter. Certainly, going skiing with the kids and whatnot but the longer days, I love the longer days of spring. Not to mention starting to get the garden mindset about what are you going to plant this year. Very often people ask us whether it’s prospects or people that are watching our television show or the radio show or even this podcast, they ask us good questions. Sometimes it’s, “Oh, how do you construct your portfolios and when to take Social Security? And are you a fiduciary?” All very, very good questions to ask a financial advisor and to learn about their firm. A very unique question that we get a lot is, “How are you different?” And so, there’s a number of different ways you can answer that. If you think it was like, “Oh, it’s the people,” or, “We have experience,” or, “This is how we do our portfolios.” But today we’re going to talk about how it is the teams that make us different. It is how we’re structured. It is the emphasis on service and solutions. That is what makes SHP different. Okay. Here to discuss that with us is our recurring guest, Nick Nelson.

 

Nick Nelson: How are you doing, Matt?

 

Matthew Peck: Doing very, very well. And let me just pump your tires a little bit, Nick, before we talk about this. You have to at that point in time. Nick has been with us since 2016. And at that point, he was employee number eight. We are currently at roughly about 50 employees, and Nick has been absolutely instrumental in growing the business while making sure that we stay hyper-focused on service, making sure that we do not, even though if we’re growing, we’re growing in the right way. We’re growing in the smart way and we’re not sacrificing our culture. We’re not sacrificing the service, the clients that they don’t feel underserved or whatever that may be. So, Nick, A, how do you do that?

 

Nick Nelson: Yeah. Thanks for asking, Matt. So, it’s not always the easiest thing but what we tend to focus here at SHP and what’s really important and critical to us is really that anybody that we hire or anybody that joins the team, they fit the culture here at SHP, and that can mean a lot of different things. I know you’ve all heard our COO, Michelle Short, talk about the culture and how important that is here at SHP Financial. But beyond that, within Advisory Solutions, we want to make sure that we’re always hiring people that, one, we can trust, right? Trust is one of the most important things in terms of people that we hire. And oftentimes we even say trust over performance. Now, it’s not that we don’t want to necessarily hire skilled people. Of course, we want people that are skilled. Of course, we want people that perform. But we actually had the honor of being at an industry conference just the other day where we were able to hear Simon Sinek speak, right? And I really enjoyed hearing him talk about just the development and just kind of like the focus around hiring and what’s important.

 

And he used a great example around actually SEAL Team Six, right, which a lot of people would agree is one of the best industries and just teams in the entire world. And what I found extremely interesting but at the same time was also in line with kind of our culture and how we hire is that trust was over performance, right? So, they would actually use a graph with trust on one side, performance on the other, and if there was a particular person that was way on the right, performed extremely well but the trust wasn’t there, the culture and the fit wasn’t there, they would never join that team. They much rather hire the person much farther down the trust side of things over the performing side of things because, one, you can teach people things, right? And that’s one thing that I think is important on the Advisory Solutions team here is that we don’t necessarily need to hire the person that knows every single thing from day one. We want people that are intelligent, that have experience, of course, but we’re able to teach them and we’ve developed a training program in order to do that.

 

And I’m very, very proud of the progress we’ve made over the last eight years in terms of the team that we’ve been able to build on Advisory Solutions. And I want to talk a little bit about that today, specifically the different roles within Advisory Solutions but beyond that, also the different aspects of the team and really what a client gets and what makes us different by working with SHP Financial. It’s not just Advisory Solutions. It’s our other internal team members, and it’s even the third-party relationships that we have that offer additional value to clients.

 

Matthew Peck: Well, let me go back to, well, A, it’s fascinating to have and I was happy enough to also be at that conference and talking about in Simon Sinek, talking about vision and making sure that you paint a picture, not just have these set goals, and specifically talk about the infinite game, about how getting if you’re getting healthy, you’re getting in shape. It’s not like you get in shape and then you stop working out like, “Oh, I’ve accomplished it. That’s it. Now, I’m in shape.” It’s like, “Nope. You pretty much have to go back and stay on top of it.” So, to go back to what you’re saying, though, it’s interesting about the SEAL Team Six. Let’s talk about trust. So, how does trust, I can understand under fire and you’re doing this mission and whatnot for SEAL Team Six. How do you think trust shows itself in a financial planning industry or at least specifically for SHP?

 

Nick Nelson: Yeah. So, actually, I want to take a step back, Matt, and go all the way back to my interview in 2016, right?

 

Matthew Peck: Oh, man. Those were the days.

 

Nick Nelson: Yes. The good days, right? So, back in that interview, I remember sitting down with you guys, Derek, Keith, yourself, and one thing really stuck out to me, and that’s you guys were genuine in our conversations and that we were able to connect. And one thing was extremely clear to me, and that was that clients came first, right? At whatever cost it was, you made sure that your clients were taken care of. And at that time, I was obviously still young but I had some exposure and some experience in more of the corporate side of the financial world, and that’s all well and good. I’m not saying there’s anything wrong with that but I knew for myself I wanted to be a part of a firm that was a little bit deeper than that, right? Really put the client first rather than in some cases, unfortunately, numbers first, right? So, that really stuck out to me in my interview and I’m happy to say, eight years later, that is still the most critical and most important point here at SHP Financial. That’s something that we try to do every single day is always put the client first, always go the extra step no matter what that looks like, right? So, of course, we’re fiduciary advisors from a legal standpoint but I think doing what’s in the best interest of the client goes well beyond just a fiduciary duty. It’s just about being good people, connecting, and developing a formal relationship professionally but also outside of the business world too or outside of the office. We do a lot of things with our clients and where we get to know them on a personal level beyond just their finances and their goals.

 

Matthew Peck: And I think, too, and you were part of this, Nick, and I’m proud to say this is the fact that initially we had a service team but then over the past, I forget, two years ago, three years ago, it used to be called service but then we changed. What did we change the name to?

 

Nick Nelson: The name is now Advisory Solutions, right?

 

Matthew Peck: So, explain that.

 

Nick Nelson: Yeah. So, there’s a few points to that. For one, our service team does a lot more than process paperwork. There’s nothing wrong with processing paperwork but they’re not just processing withdrawals. Our Advisory Solutions team, the majority of our team is actually licensed advisors that are sitting down with clients on a day-to-day basis, making recommendations and helping them live out their retirement goals and dreams. So, for one, we felt like service was not the right word for that, right? There was so much more than beyond that. There are actually advisors. And if we look at your team, Matt, as a specific example, so you have two dedicated team members, Chris and Raph, right? And they work specifically with your book of business. Why is that? We want to make sure that they get comfortable with each and every one of your clients. So, they want to know each client’s situation, be able to talk to each client. When a client calls in, they want to be like, “Oh, it’s Chris. It’s so good to talk to you again.” Like, we want to give that experience, which I think also makes us different from a lot of the bigger institutions. The majority of our employees don’t just know your name. They know your face. And I think that’s a big difference.

 

And it’s been great to see the development of Chris and Raph as a newer team member but he’s doing extremely well too and just get comfortable with having those client conversations sitting down with those clients. And another I think important point there is you have some clients that you don’t necessarily sit down with anymore. And why is that? And I want to hear your side of this too but I think the way in my perspective at least, right, the way we look at it, is we got to a point where we wanted to make sure that when you sat down in that initial meeting, everything that you said you’re going to do for them, every single aspect of a comprehensive retirement plan, income investment, tax, health care, legacy, the client experience, the client service, the level of communication, we wanted to make sure that not only did that ever take even the slightest step backwards, we wanted to make sure that took steps forward. And in order to do that and continue to help more families retire, that’s kind of what led to the development and the growth of the Advisory Solutions team. So, I hope that makes sense.

 

Matthew Peck: No, absolutely. And kind of it will speak a little bit to the history of SHP, in the sense of, okay, obviously things are going to change if you grow from a company of eight people, when you first got here in 2016 to close to 50. And so, okay, there’s good and there’s bad. But there’s in a sense of okay, some of the “bad” would be the idea that, okay, if I’ve myself personally met with a client, maybe I’m not meeting with them as frequently as I once did. So, okay, well, the good news with that is the fact that we’re helping to grow the business, expand the business, scale the business so now we’re affecting more lives. Now more families that we’re sitting down with and making sure that their retirement plans and dreams, and the not worrying and wondering, they’re literally living their lives and not having to fret over, “Oh, can I afford this or can I afford that?” which really boils down to, “Will I be okay?” It’s like I want to answer that question for as many retirees or we want to answer that question for as many retirees as possible that are concerned about retirement or concerned about income or concerned about taxes or whatever. And if we were a small shop, then our scope is limited to however many people.

 

So, we want it to grow but a challenge on our end of it was to make sure that the clients were always taken care of. So, okay, and not that we were following Simon Sinek close to ten years ago but certainly we wanted to impart that on Nick who clearly has developed that and taken that to heart. And it’s also really interesting certainly because we were talking about this in Arizona was that one of the hardest things to initially grow is to find people that care as much as you do, right? And we didn’t think it was possible because how could anyone care as much as we did? We’re the founders. Only we could care that much about our clients. And it’s like, no, that’s not the case. When you find the right people and then you trust that they then care just as much as you do, then suddenly you can sort of thread that needle. Now, you can grow but still be hyper-focused on the client and the client and their happiness, and to making sure all of their needs are covered. So, not that it’s been perfect by no means but that’s kind of our perspective on the sort of founders’ perspective as we have grown. So, I guess respond to that. I mean, is it possible to care as much as the original guy and gal? Or is it something that you learn or, I guess, how did you square that circle?

 

Nick Nelson: Yeah. So, that’s a great question. For me, beyond just making sure like our goals were aligned in terms of taking care of clients, beyond just that, for me, I really want to make sure that really when it comes to building the team, I guess to take a step back, one thing, Matt, is it’s important I think for clients to know is that you’re still involved in that team aspect, right? So, like, there’s still never a major recommendation that happens without you approving that, right? And so, you’re still very much in the know of everything that’s happening with your clients. You’re still working with your team. So, it’s not like you’re completely hands-off. And I think that’s a really important point. But I got to ask you a question. So, there’s been a few…

 

Matthew Peck: I thought I’m the host here. What’s going on?

 

Nick Nelson: I got to ask you this question.

 

Matthew Peck: All right. Here we go.

 

Nick Nelson: There’s been a few situations where you might see a client that says, “I actually prefer to sit down with Chris now.” Curious how bad that actually hurts your ego.

 

Matthew Peck: It does. It does a little bit. But part of the fun part of this growth that I, and let me quickly sidebar, just thank you again for being such a part of it and being such a critical part of it and caring as much. But it’s the most humbling, positive moment of my life, right? It’s absolutely humbling because you realize that, “Oh, I’m not as important as I thought I was,” or there are other people that are rockstars that can speak to clients’ needs that can answer their questions just as much as I could. So, certainly very humbling and you guys always have to remember a great deal of humility doing what we do. But that being said, it was so positive too because of the fact that I knew that if you do surround yourself with good people that they’ll treat people the way that you treat people and then suddenly you have that ripple effect. More and more people are getting it. Now, I was going to say only because when we go back to this point because you talked about how kind of a little bit different because you have these mom-and-pop shops that have and actually in that conference, they were out there, I mean, literally mom-and-pop. Dad does the presentations, mom is the director of operations, and son is helping to grow it up. And then you have the massive ones, Fidelity, Wells Fargo, whatever that may be.

 

What I have seen interesting or recently is a client that was considering joining our firm and I said, “Oh, who are you with?” And I’m not going to name the firm they’re with. And I’m like, “Okay. So, why are you looking to move after so many years with that firm?” And they said, “Basically, turnover,” that their advisor that they had was changing every six months and they felt that they didn’t have that continuity. So, how does SHP and how does your team kind of handle that to make sure that there is that continuity and not that turnover?

 

Nick Nelson: Yeah. So, for client perspective or team perspective, Matt? Either one?

 

Matthew Peck: I’ll take them both.

 

Nick Nelson: So, from a team perspective, so kind of going back to what you were saying before you were talking about trust, how do you find people that care as much as you do, for me, not only do you want to find people that just care about the people that they’re in front of, right? You know, I think even going back to Simon Sinek again, he kind of talked about, again, the long game, the infinite game, which is just trending in the right direction. So, it’s not about making a sale. It’s not about finding every solution to someone’s problem the second you sit down with them. It’s about discussing those solutions, finding long-term goals. And as long as you’re trending in the right direction, you will get there. And I thought that was a really, really interesting and also very solid point that he was mentioning there. But back to the team, it also goes back to you guys. You treat us well. So, that’s a big thing that kind of evolves, the trust for me is that not only do you guys trust us but we trust you too. You treat us right. You make sure that we have the training that we need. We get the resources that we need in order to do our job at the highest level. And when you give that to people, when you give people a career path and you can show people the long-term vision of what it’s going to be like working at SHP, people are going to stick around. People appreciate that. And I know for myself, I can’t speak for everyone on our team. I think everybody feels similar but I know that’s how I feel. And I know for myself I can’t wait to see the direction that we go at SHP and the number of families that we’re able to help retire. And that’s what excites me, honestly, so.

 

Matthew Peck: Well, we do know that this is primarily we’ve been talking about so far are the teams that work on individual families. So, in the sense that you walk through our doors here in Plymouth or Woburn, Hyannis, and some of our satellite offices in Braintree and Marlborough, you generally will see the advisor. Let’s say I’ll go back to that team, Matt. You’ll see me and you might see Chris or you’ll see just Chris, or you’ll see me and Raphael or Raph, or maybe me and Raphael, whatever it may be. So, you’re generally seeing me and/or the team. And we’ll sit in a meeting, whether it’s a review meeting or the first time we met, or whatever that may be. And there’s a nice little summary email that goes out after the fact. But then there’s so much also, there are so many other teams that are at play that are helping to then eventually. When we regroup with that client, let’s say two weeks later or four weeks later with a full comprehensive financial plan, alright, well, it’s not just Chris, Raphael, myself that are helping to construct their financial plan. There’s also a lot of other teams that are in the background that a client really would never see. Maybe here or there. But at the same point, you have all of these layers of support.

 

And that’s also people say, “Oh, 50. What do 50 people do?” Well, let me give you a little idea of the type of support that we have because it all adds up to that ultimate goal of making sure the clients are treated right, the highest level of customer service, etcetera. So, okay, how do we do it? As I mentioned, teams. That’s what makes us different. So, Nick, what teams are not necessarily that we want to share with the listeners that aren’t as visible to them on an everyday basis?

 

Nick Nelson: So, Matt, yeah, so just within Advisory Solutions, specifically, we have additional team members that we also call Different Solutions teams. So, one of those teams is Planning Solutions, right? So, we have some specific team members that focus solely on building out plans, recommendations, and strategies for our clients. Now, again, like I said before, the advisor is still very much a part of those recommendations and that planning process but they’re able to help present ideas and help do a lot of the legwork that allows the advisors to sit down in front of more families. And this is I think we’ve done very successful over the previous years. So, some examples of that would be maybe our planning team does a more full, comprehensive retirement analysis in terms of the pros and cons. Maybe if somebody retires next year versus five years from now, right? What is that probability of success look like in one year versus five years? What does that distribution plan look like and how should that portfolio really be built out? So, that’s just one example. I could talk probably three hours just on planning solutions but I’ll let you guys pass that up.

 

Matthew Peck: So, that’ll be for our next podcast. You are a recurring guest so we were, and if you do want to hear actually Nick Nelson, I should do a real quick plug. If you do want to hear Nick Nelson on the original podcast back in 2022, Episode 11. Ladies and gentlemen, Episode 11, you can hear this superstar continue. And so, if you want to learn more about Nick Nelson in his role, that’s also out there, Episode 11. So, sorry. Continue.

 

Nick Nelson: Yeah. Time flies, Matt. I can’t believe that was 2022. So, that’s just one. So, Planning Solutions, right? And we also have a Life Solutions team again within the umbrella of Advisory Solutions and SHP as a whole. So, we have a dedicated team for our clients that do have any sort of life insurance strategies in their portfolio. I’d argue that not life insurance doesn’t make sense for everybody, right? And it’s kind of a word that sometimes people get a little bit scared about. But at the same time, if you use the tool correctly, there’s a lot of different ways that it can help a comprehensive plan, whether it’s long-term care planning, whether it’s estate planning, whether it’s tax planning, right? And there’s a lot of ways that we can utilize that. And what our Life Solutions team does is, number one, make sure that if our clients have any questions regarding their current strategies or policies, he is able to answer them specifically. He’s doing life insurance all day, every day, and he’s very well versed and has a vast range of knowledge regarding specifically life insurance, which is a huge value out, in my opinion. He’s also helping the advisors identify what I call income gaps or not income gaps but gaps in their retirement plan that could potentially be filled or at least help being filled from life insurance strategies as well.

 

So, those are really the two areas that he’s focusing on. And again, I can’t stress this enough by having someone that just does this all day long, it allows the advisors to again focus on being in front of clients and making sure that we can help as many families as possible. Because I have firsthand and I know you, of course, Matt, have seen the smile on somebody’s face when you tell them they can retire when going into that meeting. They have no idea. That’s why we do it. And again, these different teams allow our advisors to do that at a higher and greater level.

 

Matthew Peck: And I’d also add and maybe there are other teams but I certainly want to add as well just because I work very, very closely with them, the investment team, and the investment committee. Same idea. The everyday clients and our listeners here and the other ladies and gentlemen that walk by our office may not be aware of the amount of work and research that they’re doing on a daily basis to not only put together the portfolios themselves but also they look at individual stocks and equities and bonds on behalf of our clients because they’re always, our clients themselves are always asking about, “Oh, what about Nike? What about Tesla? What about this?” Well, having CFAs or a CFA on staff allows us to provide the type of in-depth research. So, I liken it all and maybe if more teams or anyone else that you can bring to the table but I liken it to that about a table, right, where you have all of these experts, people that that plan all day, people that are in the market, following the market all day, people that are in life insurance that have made it their careers to be experts in their specific fields, all looking at these plans, all being a resource so that myself as the advisor or I’ll speak to myself or team Matt.

 

So, whether it’s me, I can pick up the phone and call them and say, “Hey, I have this unique situation. Here’s what’s happening,” or I can call the planning or whether it’s on the life side of things or on the investment side of things and having all of that in-house. So, again, that’s just, okay, what makes you different? Well, that makes you different. I know the big guys have it, right? I know, obviously, the big wirehouses will have all of this because they’re massive, huge corporations but they don’t necessarily have the proximity. They don’t necessarily have the relationships that we have, whether it’s internally or with our clients themselves. And so, it just all builds up to the answer about why we’re different and it’s teams and the type of quality people that are on these teams and what they’re specializing in.

 

Nick Nelson: Yeah. In my experience, Matt, there’s not too many independent RIAs out there, which I won’t go. And registered investment advisory firm, just terminology of the firm, but there’s not too many out there that have the amount of teams, the levels that we have, the support in the different areas where we can provide value to clients for firms that aren’t independent, where most of our employees know your name, where they know your face. And just to go on with what you said, I do think that’s what makes us different and makes us very special in that regard. And another role too that I don’t want to overlook as well as we also have a technology solutions advisor as well who focuses on if clients have any problem accessing their accounts, their information on uploading things into what we call their vault in their SHP portal so important documents to them, maybe even things outside of their investment documents and things like they’re legal documents and estate documents. So, we have a dedicated team member there as well, to make clients feel comfortable with how to access their information and how to get real-time updates in terms of their values and such. So, I do think that that’s an important role as well.

 

Matthew Peck: Well, it’s interesting just for people to build on that a little bit, Nick, for anyone that’s listening or watching or what have you that’s unaware of when clients go on to our website in the top right corner, it’s the client login. And within that client login is what’s called the SHP portal. Nick mentioned, one feature of the portal, which is a vault and a vault is basically for us, it’s like an online safety deposit box. You know, you can layer up all the security there but you can then back up things like your legal documents, tax documents, passports. Obviously, we’re filling in with all of our information, insurance, and investment information as well, cash flow income reports. But like any technology, links get broken or this happens or that happens and there’s constant sort of oversight of that because of the, I mean, really on all levels. I mean, hey, just if you’re already established, making sure that there’s any problems or any problems with the data feeds but also for all new clients to be able to provide a tutorial above and beyond what the advisor provides. So, the advisor might spend a lot of time in the report section as well and talking about investments. But I mean, there’s so much that those portals can do. And so, having someone to walk you through that and really make sure that you’re maximizing that technology, not just to mention keeping it up to date, also a full-time job.

 

Nick Nelson: Yes, it is. It is. It’s actually quite time-consuming, to be honest with you, Matt. So, yeah. So, all those various things, they work together and they basically bring the advisory solutions experience. But even beyond just internally, we have outside resources, outside relationships that we also lean on and also help provide value to our clients. So, an example of that would be the great relationships that we have with our estate planning attorneys. Estate planning is a very much one of the five areas of what we do, and we have great relationships with estate planning attorneys that help our clients develop trust and so forth. And we also have because of that great relationship, we can communicate with them basically on a daily basis as we need to make sure that when there is a need on the client side, that their needs are met, right? Whether it’s funding their trust, making sure their assets get allocated or disbursed correctly if anything were to happen to either of the spouses and so forth. So, that’s an important relationship that we also have and also provide to our clients by working with SHP.

 

And beyond that too, we have relationships with tax professionals, CPAs as well. Obviously, taxes are a huge part of what we do. We’re not tax professionals ourselves but we do try to take advantage of certain tax strategies that might put someone in a better place, whether it’s in retirement or passing assets on to the next generation. And by working with a tax professional and a CPA, it allows us to kind of take a little bit of that pressure and burden off of some of the crazy tax laws out there and focus more on the strategy but still make sure that it makes sense in a more CPA tax perspective as well. So, those are two other resources and relationships that are vital to us as well. And beyond that, health care, we have a relationship with Bravo Benefits, which I think Scott’s been on the podcast before. He’s an excellent resource for our clients. So, if clients have questions regarding Medicare supplement plans, advantage plans, and so forth, he’s going to make sure that you’re in a plan that best fits your needs and situations, and we’ll do the best to make sure you’re not overpaying for those benefits as well. And those are some other great resources.

 

And then lastly, we have a relationship with Triad Partners as well. So, Triad Partners focuses more on our, I call it the conservative investment options that we offer to our clients and make sure that we’re up to speed with what’s going on in the economy, in the market, in the different rates that are available, and making sure that we always have whatever the best options out there, we have our hands on it. We’re able to offer that to our clients, obviously, based on whatever their objective or their goal is. So, those are some other third-party relationships that we have that I, again, don’t want to go overlooked because all of this combined is what our clients actually receive and what’s actually going on, on the back end here at SHP. And that’s even before I go into the other departments in SHP as a whole too. Advisory Solutions is just one department within SHP, right?

 

Matthew Peck: And that’s what I love. I mean although you hear the line that, “Oh, you don’t want to know how the sausage is made.” Well, this kind of podcast is about, “Okay. Here is how the sausage is made.” Here is how the, you know, so imagine, as I said, you go into a meeting, you the client, right? You go into a meeting with SHP and then you get a summary email and then two weeks later you regroup for whatever purpose. Those are all the teams that are interacting and working together to then eventually give that product back, which is the highest quality financial planning, thoroughly researched, whether it’s in all of our five worlds, and you talk about all of these teammates, well, each one kind of speaks and there’s some overlap but speaks to the income side of it, the investment planning, tax, health care, legacy planning. You need all of these different teams, working together, interacting, coordinating with one another. And I just love it because at the end, the classic, “Wow, this is so great.” Now, we kind of smile because we know that all the work that goes into it but that’s what you need in modern financial planning.

 

Because let me put it this way, I never fault any do-it-yourselfer because I wouldn’t have started this business if I wasn’t a certain do-it-yourselfer. Not to mention, I enjoy following the markets too. So, when people are out there picking stocks and all that stuff where it’s like, “Oh, what’s your performance? My performance has been this.” If we want to get to that contest, it’s fine. However, following the market’s one thing but what about following taxes in the tax brackets and Medicare with IRMAA, some of the penalties that are there, and Social Security and the pensions and all those other areas? That is a full-time job. And as you can see, that’s a full-time job for close to 50 people in order to then produce the highest quality plan. So, again, I can’t stress enough the fact that when we answer that question of what makes us different, we have these teams that are all working all on your behalf to make sure that you are going to be okay, to make sure that all nooks and crannies and not on a single stone is left unturned to make sure that you’re not worrying and wondering in retirement. You’re enjoying your retirement. Before I let you go, though, Nick, let me ask you this. All right. I used to work at a pizza store, right?

 

Nick Nelson: Sure.

 

Matthew Peck: Actually, I ran a thing up in Vermont, at my uncle’s pizza store up in Stowe, Vermont.

 

Nick Nelson: I didn’t know that, actually.

 

Matthew Peck: Yeah, a little bit for a couple of weeks way back when.

 

Nick Nelson: A couple of weeks. There you go.

 

Matthew Peck: Yeah. So, here I was surrounded by pizza the entire time. And after about a month, I was like, “I don’t like pizza anymore.” Now, I’ve come around but there was because I was up to my nose in dough and sauce and cheese and all that stuff, I was like, “I kind of want a break from pizza. I don’t really want to leave the pizza store and go get pizza.” What about yourself? You clock out of SHP. What are we doing? Are we watching Netflix? Are we reading? And is it completely away from business? Or are you one of those people where it’s like, “Ooh, I want to learn more and now I’m watching this podcast about how to build a good solutions team.” So, what do we do with our spare time?

 

Nick Nelson: Well, I’m the kind of person, Matt. My mind is always working whether it’s in business, whether it’s in family, whether it’s in friends, whether it’s about my future, the future of our clients. My mind’s always working. But I actually just had quite the big lifestyle change recently.

 

Matthew Peck: I see. Tell us.

 

Nick Nelson: Yeah. So, we just had our first son. We welcomed our first son. His name is Brody. Enter the world. He’s four months old yesterday.

 

Matthew Peck: All right.

 

Nick Nelson: So, the last four months has looked a little bit different for me. That’s taken a lot of my focus and my time. I wouldn’t trade it for the world but that’s kind of where my focus is. My focus is basically SHP and family right now. So, not too much time for stuff outside of that. But on a normal day, obviously, I always try to expand my knowledge in the industry, listening to various podcasts, things like that. I love to golf, have a good time as well. But, right now it’s family and SHP.

 

Matthew Peck: And probably sleep when you get a chance to.

 

Nick Nelson: When I can. When I can. It’s getting better.

 

Matthew Peck: Well, the good news that eventually Brody and maybe others will come and will grow up, and then you’ll have a little bit more time to, a little bit more spare time to do what you would like as well.

 

Nick Nelson: We’ll get there. We’ll get there.

 

Matthew Peck: But I wouldn’t trade it for the world.

 

Nick Nelson: Would not. I would not trade it for the world. It’s amazing.

 

Matthew Peck: Well, Nick, thank you so much. So, again, Nick Nelson, who was joining us today was the VP of Advisory Solutions, joined us way back in 2016. And thank you so much for everything you do here and obviously for joining us on the podcast and then sharing all that you do, as well as all of these teammates are doing to make us different and to produce, as I mentioned, the highest quality of financial planning, in our opinion, that’s available. So, Nick, thanks so much for coming aboard.

 

Nick Nelson: My pleasure, Matt. Thanks for having me.

 

Matthew Peck: And for all of our listeners, thanks again for listening to SHP’s Retirement Roadmap podcast. Be well and stay tuned for next time.


The content presented is for informational purposes only and is not intended as offering financial, tax, or legal advice, and should not be considered a solicitation for the purchase or sale of any security. Some of the informational content presented was prepared and provided by Lone Beacon Media, LLC dba Lone Beacon, while other content presented may be from outside sources believed to be providing accurate information. Regardless of source no representations or warranties as to the completeness or accuracy of any information presented is implied. Lone Beacon Media, LLC is not affiliated with the Advisor, Advisor’s RIA, Broker-Dealer, or any state or SEC registered investment advisory firm. Before making any decisions you should consult a tax or legal professional to discuss your personal situation.

Investment Advisory Services are offered through SHP Wealth Management LLC., an SEC registered investment advisor. Insurance sales are offered through SHP Financial, LLC. These are separate entities, Matthew Chapman Peck, CFP®, CIMA®, Derek Louis Gregoire, and Keith Winslow Ellis Jr. are independent licensed insurance agents, and Owners/Partners of an insurance agency, SHP Financial, LLC.. In addition, other supervised persons of SHP Wealth Management, LLC. are independent licensed insurance agents of SHP Financial, LLC. No statements made shall constitute tax, legal or accounting advice. You should consult your own legal or tax professional before investing. Both SHP Wealth Management, LLC. and SHP Financial, LLC. will offer clients advice and/or products from each entity. No client is under any obligation to purchase any insurance product.

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2024-02-07T13:42:50-05:00