Mark Kenney - retirement

In our industry, there’s a saying: the two people in your life that you want to make sure are younger than you are your financial advisor and your doctor. After all, if you’re 50 or 60 and working with a financial advisor who’s the same age as you, guess what they’re going to be doing in 5, 10, or 15 years? When you retire, they’ll probably retire too! 

To discuss this topic, we’re thrilled to be chatting with Chase Reardon, who’s in-house with us here at SHP Financial–and one of our younger advisors. He’s passionate about getting to know his clients on a personal level and a financial level to help them retire successfully. 

In this podcast, we discuss the advantages–logistical, technological, and otherwise–that come with working with a younger advisor. You’ll learn about the unique mindset that younger advisors bring to our industry, how they’re working to evolve the field, and several factors to consider as you build your retirement plan, no matter your (or your advisor’s) age.

In this podcast discussion, you’ll learn: 

  • Why you may need a succession plan not just for yourself, but for your financial advisor, when you work with someone your age or older.
  • How working with a younger advisor can give you access to new financial planning tools, including cloud-based modeling and risk analysis solutions.
  • Why COVID, interest rates, and inflation have changed how younger advisors think about, approach, and build financial plans. 
  • How to ensure you’ll have long-term continuity with your financial advisor.

Resources

Read the Transcript

Derek Gregoire: Welcome everyone to the Retirement Road Map Financial Advisor podcast brought to you by SHP Financial. And we have a guest today, an in-house guest, Chase Reardon, who is part of SHP Financial, an advisor who’s been here for a couple of years now, and doing a great job here at SHP. We’re going to get into the topic in a second, but welcome to the podcast, Chase.

 

Chase Reardon: Thanks for bringing me on.

 

Derek Gregoire: Chase is nervous, his first time on the radio or a podcast.

 

Matthew Peck: That’s what we’ve heard. So, we’ll see. So, hopefully our listeners will…

 

Derek Gregoire: Cut him a break.

 

Matthew Peck: I’m not cutting any break.

 

Derek Gregoire: You and I won’t, but maybe the listeners. This is Derek Gregoire, and my partner, Matthew Peck. And it’s a strange topic when you think about it because, but if you think of like, I was always told in life, there’s two people that you want to make sure that in your life are younger than you, that you want younger than you. One is your doctor and the other is your financial advisor because if you look at the average age of financial advisor, it’s about 55 years old. And so, if you’re in your 50s or 60s and you’re joining a small financial advisor, a team or a specific advisor, and they’re the same age or around the same age as you, well, what do they probably want to do in 10, 15 years?

 

So, in the back of your– when you might need that team the most, they might also want to retire, go to Florida with golf courses or you know what I mean? And so, that’s in our industry, something that we have to focus on and something that we talk about all the time because obviously, you want to make sure whoever you’re working with has some sort of succession plan or has some team members. Obviously, here we have 40-something members and probably too many young people. But Chase, how do you see that? Because I know you’re pretty young yourself, you’ve been in the industry a few years now. And it’s different, too, because people look at you as young, and they question, does he have the experience? Does he have– and so forth? But what are some basic advantages to having a younger advisor?

 

Chase Reardon: Yes. So, thanks, Derek, for that. So, really, it comes down to an off your previous point. You could also have the possibility of outliving your advisor, which is often not talked about. Do you know what I mean? I mean, life events come up and sometimes, unfortunately, things happen where you make sure if your advisor does, unfortunately, pass away that you have some kind of succession built in, kind of like you were talking about. So, yeah, I mean, they really do have advantages, there’s a lot of advantages out there. I mean, they’re good with technology, they bring new ideas of financial planning, and they go through life events with one another, and someone you can trust if something would to happen to you. Mark, few of the high-level ones.

 

Derek Gregoire: If you think about it, that like, just in general, the conversations that you have, if you think about like with the doctor and financial advisor, those are the two people that we joke about you want somebody younger than you in both those fields. But if you think about what we as a firm, and we’ve been doing this for 20 years or so, think about the intimate details that we know from our clients. Think of the clients are baring their soul. So, think about, we know their health situation, we know their children, their families, their goals, and we know their assets. So, if you think of like a doctor knows everything about them health-wise, and they’re baring their soul to the doctor, in essence, telling them their life history, but the doctor doesn’t know how much money they have. We know their health situation, their history, and how much money they have so those are intimate things that a lot of people, people don’t like to share their age, their health situation, and how much money they have, and all the situations that we have to know about for all the clients that we serve.

 

Matthew Peck: No, absolutely. And just to kind of add to it, I mean, just think about legacy planning as well. I mean, now, we know about the family aspect. So, they have the family dynamics, which are always awkward, and you never know of– because a fair amount of our clients have really strong families, but others have a son or a daughter that’s struggling or is divorced or whatever that may be. And so, now we have to figure out their money, but then also figure out, okay, what’s the plan for legacy as well which then builds another point as to the idea of having a young advisor is that, okay, if our clients pass away, they now know that someone that is younger than them is going to be there for their kids to make sure their own succession plan. Like Chase, you’re talking about this succession plan for the financial advisor firm, but you also want your own succession plan, your own group, or your own advisor to be able to be there if something were to happen to you so that you have that continuity on to the next generation. And one more thing I’ll add to it, just because Derek did with our past, I mean, I do remember starting out 20 years ago, we got a lot of like, oh, you look like my grandson.

 

Chase Reardon: I get that all the time.

 

Matthew Peck: Okay, you’re getting it because you and I aren’t getting it as much anymore.

 

Derek Gregoire: We used to. Probably, what year is it? Probably about 2010, we’re bringing in on a client. And we could help him so much, like I knew we could help them. And this is many years ago, and the guy looked me in the eyes, after two or three meetings, he said, “Derek, everything you’re saying is exactly what we want.” He’s like, “but I just can’t get over your age, we just can’t get over it.” And so, they did not move forward because I think at that time, I was 30 or something like that. Now, I’m 42. So, at that point, no one ever says I was…

 

Matthew Peck: We’re not getting it anymore.

 

Derek Gregoire: So, Chase, in your situation, I guess, I know you’ve been here a couple of years. What brought you into the field? What makes you passionate about the field?

 

Chase Reardon: Yeah. So, what makes me really passionate is just the ability to get to know someone on a personal level and a financial level, as well as building a relationship with them because the way I look at it is, we’re humans, we like to talk to each other, we’re very communicative species. So, being able to tie that into helping someone else financially and really building their plan and making sure they retire successfully, combining those two aspects, I think is really why I’m here.

 

Derek Gregoire: Our partner, Keith, is not on this podcast, but you’ve been on his team and you’ve probably seen Keith just taking a lot of clients. I know you’ve helped him along the way just through that process of like having not really a plan and worried about it, and then seeing that plan come to fruition and being able to live out their dreams in retirement. That’s a cool thing to go through.

 

Chase Reardon: Right. And Keith and I spent a lot of meetings and oftentimes, the clients or whatever family on the other side of the table does say, we actually like having a young person looking at our plan. And we’ll kind of talk about that for a few minutes to talk about how I can bring new ideas, I know how to use the technology behind it. If you’re building out a financial plan, you’re getting all this data from all the statements and whatever else. I mean, you really want to formulate that data to show how the plans are going to work and have confidence within the plan. And I think being a younger advisor, you have that advantage.

 

Derek Gregoire: One of the things I remember hearing recently, didn’t you and Keith witness a woman crying, right?

 

Chase Reardon: Yes.

 

Derek Gregoire: What was that story, basically just showing her that they were going to be okay and that they were going to be able to do…

 

Chase Reardon: Exactly. It was a pretty intense moment. Keith and I were in this meeting, and we built out a lot of great work for this client. And we presented it to them and we kind of told them, you’re going to be okay. We have confidence in this plan. You now have confidence in this plan. And it was a pretty emotional setting, but we were crying about how she was going to be able to retire. That’s the main point of it. I mean, seeing that is why we come to work.

 

Matthew Peck: And sorry to interrupt, but just think back to the technology aspect of it, I mean, again, Derek, talking about our own 20 years in the industry, when we first started out, it was just a lot of spreadsheets. We would put together spreadsheets for somebody to say, okay, this account earns X and this account earns Y.  And your Social Security is going to do this, and your expenses are going to do that, but it was all spreadsheet-based and not to get into, for anyone that does spreadsheets, but it’s very simplistic in a sense of, okay, you couldn’t really vary things that much. Or maybe I wasn’t that good with spreadsheets, maybe you could. But I mean, think about– so, they’re from there, from that world to now, the sort of cloud-based financial planning technology that’s able to do to run all those simple things back in the day, but now can run all these very– like what-if scenarios of, okay, what if inflation is X? Or what if the bear market strikes now? Or what if a long-term care event happens? So, think about it, for all the listeners, it’s like having a young advisor, you’re coming in knowing the sharpest technology as compared to having to replace someone that’s been using spreadsheets their entire life. You see what I mean?

 

Chase Reardon: Exactly. And then, to your point, you’re working in spreadsheets, and then a new software comes out, then you have to learn that one. Then a new software comes out, you have to learn that one. So, as a young advisor, you have the edge on learning new technology whenever it comes out. I mean, depending on your age, we grew up with technology our whole lives. I mean, we grow up in front of the TVs, on the phones, on the computers. At very young ages, we are supposed to perform with technology. So, yeah, definitely, that does make sense.

 

Derek Gregoire: Yeah, technology is huge. I mean, like I remember when we first started 20 years ago, I don’t even have an email address.

 

Matthew Peck: Yeah, right. We had a beeper, sorry, we’re going to do the data ourselves. Remember, we got a company beeper.

 

Derek Gregoire: That was it. And then if clients will leave a voicemail, and then we check the voicemail throughout the day and then call them back. And then so spreadsheets were like, oh my gosh, look at this technology we have to offer, and spreadsheets became a thing. And now, I mean, if you think about, I don’t even know, Matt, he probably knows them better than I do. It’s probably a scary number to share, but I wonder how much we invest in technology between financial planning, software, performance data, data software, all the trading software, the risk software.

 

Matthew Peck: The risk analysis, yep, portfolios.

 

Derek Gregoire: But it’s hundreds and hundreds of thousands of dollars, literally. And some people say, I don’t like technology, but there’s no way you could take a client. The beautiful part of a good technology package for financial planning in the fintech world is that practically, you can sit with a client and you can say, okay, if everything is built in, meaning if we know their expenses approximately, their income from work or Social Security or pension, we know what accounts are pretax versus after-tax versus tax-free, right? If we know that entire situation, then we can run, like you said, what-if scenarios. What if we did a Roth conversion? How would that impact the plan? What if we bought a house in Florida? How would that impact the plan?

 

Where if you didn’t have technology, it would take days to actually calculate what those situations would look like for the client, wherewith us, we can plug in a scenario into, okay, here’s a situation, here’s what’s going on if you buy a house in Florida and you have a mortgage of– let’s say, a mortgage is $2,000 a month, and your fees are $1,000 a month. So, it’s $36,000 a year we have to add to your budget. Well, sometimes we can run that and showing conservative returns, it’s like, okay, when you’re 90, if you buy this house in terms of liquid assets instead of having $2.8 million, you might have $2 million, right? If they weren’t able to see that, they would be afraid to make that decision because they would say, what if I run out of money?

 

What I tell clients is, okay, look at the scenario. If you do that, yes, you’re leaving less money behind, but you also have a house, and that house is going to be left behind. And on top of it, I always tell people, let’s say at 85, you don’t like the way your portfolio is projecting. Guess what? We can sell that, that you get the money back from whatever you put in or whatever that you sell it for, not only to get the money back to invest, but you also don’t have those expenses of the upkeep taxes, condo fees, grass, pool, whatever else you have down, I’m just using that as an example, but I always talk even if it doesn’t look good in the long run, maybe you own it for 10 years from 65 to 75 or 70 to 80, those should be healthy years. So, why don’t we, I’d say, go for it? Again, not everyone’s situation is that scenario.

 

But what I find out what technology allows us to do, Chase, and I know you’ll agree with this is it allows us to show our clients and families that we work with what’s possible. So, it’s not just, hey, you’re going to be okay. You can stay home. You can go out to dinner one night a week and you should have plenty of money. And then imagine that client does that, and he’ll leave $4 million behind, it’s like, geez, I wish when I was healthy, I did more, I traveled more, where technology allows us to show people, not just here’s what you can do, but what’s possible.

 

Chase Reardon: I know exactly, I mean, another big factor, too is, like, some people come in with X amount of dollars and they ask, I think I’m going to live on a tight budget, I’m going to live on X amount of dollars, a very small amount. And then we look at their plan, we have this technology we can use and we find out, hey, you can actually spend double that and be absolutely fine. And that’s reassuring. That tells them that we’re looking at their portfolio, we’re looking at their investments and making sure that they’re living off and doing what they want.

 

Derek Gregoire: Yeah, one of the other things, Matt, and I know Chase works with us too, cool part about what we’ve done in the last five years is introduce like a Gen X-type planning and two reasons. One, it keeps continuity in terms of like if something happens to a client, we want to make sure that (A) we have their children’s back; and two, we want to give those children lessons of financial planning and have an expert like we do in-house that can help then because if you’re listening in, you’re 65 or 68 and in retirement, your plan is different than your 32-year-old son or daughter. And so, that’s a new objective we built about probably three to five years ago, but now, we take our client’s children and if they need it, we help them plan financially.

 

And then if something were to happen to the parents, not only does that child have a place they can go, but they also have knowledge because they’ve been getting advice, they’ve learned about college funding, Roth conversions, budgeting, Roth planning, everything. They’ve learned along the way. So, then the goal is to make that next generation a good steward of wealth. And so, not that having an old– I don’t want to say if your advisor is 70, it’s not the end of the world, I’m just saying, you get to think about if that person, something happens to them, who’s dealing with them? Who’s dealing with their children? What’s going to happen?

 

Chase Reardon: Who’s executing? Who’s helping execute the estate plan, basically?

 

Derek Gregoire: Let’s say, a husband and wife passes away, and let’s say the wife is the one who deals with all the finances and deals with the money. And let’s say she passed away, that puts the husband in a very vulnerable spot because let’s say their advisor is about to retire, they’re most left to the wolves because they’re going to try to go to anyone to get help.

 

Matthew Peck: I wouldn’t try to think of how often it comes up, but relatively commonly where we’re almost hired sometimes to be the backup to the main sort of money manager, whether it’s the husband.

 

Chase Reardon: And the family.

 

Matthew Peck: Right, exactly. So, whether it’s the husband or the wife, we’re there. I think of a client right now. He was in his mid-80s, a great guy. So, he’s doing all of the management. And so, the wife, we’ll call her Mary for the circumstance, he just said, like, yeah, I don’t know any of this stuff. And you’re this dear for me, but it means so much to A to look at Mary in the eye and say, yes, we’re absolutely going to be there for you. But then also the husband, again, I’ll just call him Bob in this situation, I can look in Bob, I’m like, Bob. don’t worry, buddy, if anything ever happened to you, again, because we’re talking mid-80s at that point, it’s clearly on his mind as it would be at that stage and just being able to be there for both parties while living, and then certainly, most importantly, because I think that’s the other one of the big events, though the big positives of having a younger advisor is just you’ll go through those life events with one another. Do you know what I mean?

 

Derek Gregoire: Yeah, that’s one of the bullet points you have, too.

 

Matthew Peck: Yeah, because I mean, obviously, we’re talking about the death aspect of it, but how happy is it when some of our clients, some of our older clients have their first grandchild or their kids get married or all of those other things, you can be there to celebrate with them as compared to, again, if you’re sort of phasing out or are just on the back nine of your career, you might not be there for all those very important bonding events.

 

Derek Gregoire: One of my clients is a doctor, and he just got promoted to chief of the whole division at the whole hospital. And so, now, like to be able to celebrate that with him, sending a little, hey, his congratulations a gift-type thing and just to celebrate with him, he was so excited like the whole family was. It’s just a great honor and just to be able to do that with your clients along the way is amazing. And I think one of the things I joke around with if I’m in meetings and people say, “Well, what if something happens to you?” Because again, myself, given that, we’re all in our low to mid-40s, and I point to the screen of our team picture, which is 40-plus people and I say, “See all those faces?” And by the way, most of them are younger than Matt and I. I’ll say, “If you outlive every single person up there, then you have the pretty darn good life.” If you’re 55 or 60 now, and a lot of our advisors are 23, 25, 27, 30, 40, 45, there’s a lot of continuity, and that’s the thing we build teams around our advisors here at SHP so that not only do they know Matt, Chase, Keith, myself, everyone, it’s not just working with one person, although they have a main point person, there’s a team that they get to know. So, God forbid something happens, it’s not like anything’s going to change because everyone knows and understands their plan.

 

And so, Chase, you had said one of the things in terms of you have new ideas for financial planning. So, maybe give us some thoughts there. I know even years ago, people would just do 60/40 stocks to bonds, right? And that was like the whole plan. Now, that might have worked in the 1980s when interest rates were 18%, but that might not be the same plan anymore. There are different ways to build plans these days.

 

Chase Reardon: Right, yeah. So, I mean, it really comes down to a lot of these younger advisors, they may be coming from different industries or they just graduated college or whatever the case may be and they’ve really been exposed to now the effects of COVID, rising interest rates. It’s really going to mold their picture of how they build financial plans moving forward for their clients. So, it’s a very– I wouldn’t want to say uncomfortable world right now, but it’s a world where you’re under some pressure as an advisor, and that’s where you really learn.

 

Matthew Peck: Well, that’s what I was going to say Derek, because we mean the idea of that technology constantly evolving, I think the idea of financial planning is constantly evolving, like you were saying, Derek, where it’s like, I mean, think of it all the old rules that are being called into question, like the 60/40 portfolio. That was a portfolio that for years had been the sort of benchmark to get people through retirement. And well, okay, with interest rates being where they are and with inflation, as you were saying, Chase, is clearly here and not going anywhere, it just filled up my gas tank and it’s like God. So, I mean, questions like, again, the 60/40 portfolio, is that sort of dead or passé for the time being? Like the 4% rule, which was okay, as long as you withdraw less than 4%, but that came out in the early 90s, but in a completely different time. Same as the rule of 100 where you used to take your age and minus it from 100, and that should be your investment mix.

 

And these are all things that are just like, okay, well, longevity is changing where, as you have heard from Ric Edelman say, like, oh, should be rule of 110 because people are living that much longer with medical technology. And the same idea, the 4% rule was back when bonds were paying 6%, 7%. They’re nowhere near paying right now. And gosh, there’s so much of it, like, Derek, you remember some of the products that we used to sell years ago? I mean, they’re just not even in existence anymore or some things that guarantees of 4% to 5%. So, the financial industry is always evolving. And if you’re not there at the forefront of it, then the clients are missing out.

 

Derek Gregoire: Right. Yeah, Chase, when you were younger, I remember like 10 years ago or 12 years ago, my dad, I got him a fixed rate annuity at six and a quarter fixed for 10 years. And you couldn’t even touch that now. So, just an example of things change and things evolve, and that’s why, like someone can’t just retire and say, alright, I saved up $2 million and the market’s always average 8%. So, I’m going to pull $160,000 per year, which is 8% of $2 million out of my portfolio, and I should be fine. Well, if the market’s going up, you’re fine, but I think that’s one of the old thoughts some people don’t realize. If you’re pulling, let’s say you have money invested aggressively and you pull out 8% because you think it’s going to average that, imagine you pull out– what did I say? $2 million?

 

Chase Reardon: Yeah.

 

Derek Gregoire: $2 million. Let’s say you pull out 160s, now you have about 1.8 in change. Let’s say the market pulled back 40%. So, now you’re down to a million. Now, you pull up 160 again because you’re still pulling out 160.

 

Chase Reardon: And then it’s gone.

 

Derek Gregoire: Now, you’re down to eight something. So, even if the account averages 8% from that forward, 8% of $800,000, $64,000, whereas 8% of $2 million was $160,000. So, that’s why I’m saying like, I’m not trying to scare people, but just there’s so much involved to financial planning, and with the average age continuing to go up because every year, we get older, Matt and I get older, you get older. So, I think that’s what our goal is here at SHP is to continue to bring new young, bright advisors. So, I’m not sure how did you get on? Sorry, Chase.

 

Chase Reardon: Young but not great.

 

Derek Gregoire: I couldn’t go through the whole podcast, well…

 

Chase Reardon: Yeah, I know, I know, I know. Yeah, yeah, yeah.

 

Derek Gregoire: I did my best 22 minutes of solid… But in reality, though, that’s going to be an important fixture going forward. Matt, you’ve heard it before, so many people that have changed over to us, I almost felt bad because I know their advisor is a good person or whatever. But sometimes, it’s like, hey, my advisor is a 58-year-old woman. She’s by herself, she has a couple of employees, but if something happens to her when she retires, we love her. She’s done good by us, but if something happens, we don’t want to be like at 78, then trying to figure out our whole financial plan again. We want to have long-term continuity, I think is the word.

 

Matthew Peck: Well, I think because that’s absolutely the point. I mean, because not only we talked about the average age is about 55 years old, but I think, and I’m not sure of the stats, but how many are sort of not only of that age, but how many are like kind of the mom and pop shop, where, as you’re saying, there’s like maybe one or two employees? And if that one called the key employee or the main person that put it all together leaves, then are they going to be there? Or are you just going to end up with whatever the Fidelity or Morgan or whatever the custodian was? And now, you end up calling some 1-800 number to get help. And as you were saying, Derek, imagine that happening in your mid-70s.

 

Derek Gregoire: Yeah, I know. And the other thing, too, is that back in the day, people, they’d think of, oh, even that person leaves, I’ll just go to Fidelity and have a portfolio, I’ll go to Schwab or whatever. But the portfolio is one aspect of retirement planning. If you don’t have a plan, like with our clients, we know their tax bracket, we know their Social Security income, we know their expenses, we know their one-off expenses, we know their properties, we know their assets, we know their health situation. So, it’s not like, hey, here’s a portfolio, we’ll just give it to the next person. There’s so much detail that goes into a true plan that has to be kept in continuity going forward.

 

Matthew Peck: But I’ll also say, too, I mean, even I’m always amazed just at the prep work for the review meeting, sometimes. Do you know what I mean? So, obviously, Chase, I know you’re on Keith’s team, but just more the idea that prior to a meeting, I’ll see what the team had done for me to prepare, and it’s everything. As you were saying kind of, Derek, it’s like updating Social Security numbers, updating expenses, updating the health care, updating the tax situation, making Roth conversion suggestions. I mean, that’s just the pre-meeting work, much less…

 

Derek Gregoire: For an existing client.

 

Matthew Peck: For an existing client, and then, obviously, then all of the after effect too, I mean. So, Chase, you must see all that pre and post.

 

Chase Reardon: Yeah, because when a client comes in for a meeting, whether it be an hour, hour and a half, two hours, I mean, we don’t want to waste our time. We want to get them in, we want to answer their questions and just keep the confidence within their plan. So, we do preplanning. We look at their situation now. Has anything changed? We need to update anything and really just make sure we cover everything we want because we want that client leaving the door still having the same confidence that they did.

 

Derek Gregoire: I think that’s one of the things that Matt brought it up is just imagine– like, Matt said, imagine the prep work to build– we take a client on, there’s a lot of heavy lifting because most folks that come to us say, you know what, guys? I have a 401(k) or I have an advisor I’ve been working with, but I’d say, 90% to 95%, maybe I’m wrong, but that’s my guess, of clients that come over to us, have a portfolio, but don’t have a plan, meaning they have investments, annuities, whatever money, but no one’s ever sat down and broken down, okay, here are some tax planning strategies, here’s an expense cash flow analysis, here’s some estate planning analysis. And so, that’s the difference is once we get that plan built up, we always tell the clients the one thing I’ll guarantee is his plan is going to change because every year, like you said, every time we do a review, whether it’s six months or a year, our teams, I’m the same way, man, with my team, whether it’s Hudsen and Natalia or Laura, the prep work, I say, hey, here’s your annual review meeting with Bob and Joe Jones, some things you want to look at. There’s potential for a Roth conversion, their estate tax situation, blah blah blah. I checked all their beneficiaries. Here’s a quick review. Please double-check their Social Security numbers to make sure it hasn’t changed. So, there’s like 20 items, this client’s already been…

 

Matthew Peck: Beneficiary. I just chime in. I mean, they’re double-checking on beneficiaries. I’m not sure if he said it already, I apologize, but it’s more the idea of like all that prep work to go into it. And I was going to say too on the insurance end of it. I mean, I know because we’re done with the technology, we’re stress-testing all the portfolios in a sense of, okay, what happens if a life/long-term care event were to happen? Inflation would have run wild. So, I mean, all of that stuff is pre to then, as you were saying, Chase, not waste the customer’s time, the client’s time, we’re actually sitting down with them.

 

Derek Gregoire: I think, and if you’re listening, you say, I wonder, just a good checklist to follow. If you’re not sure, if you have like a full plan, if you want to know, if you have a portfolio or a plan, I actually wrote this down, but on our website, it’s SHPFinancial.com, find the webinar. There’s a webinar that we recorded a few weeks ago that talks about the five top planning mistakes that people want to avoid. And it really goes to the five-step process. And there’s definitely a link that I’m not prepared for. It’s like BostonRetirementPlanningMistakes.com. There is a direct URL. I apologize for my unpreparedness because I wasn’t planning on getting down this rabbit hole. But I think if just to bring some value to your situation, if you’re listening, go to SHPFinancial.com, there’s a tab that says either media or webinars, and you’ll find Top 5 Retirement Planning Mistakes that’ll take you through the five critical areas of retirement, including a portfolio, but much more into planning and that type of thing.

 

So, Chase, I know we’re wrapping up here. When you look at the evolving market and you look at where you are as pretty young, you’ve been in the business a few years now, any last thoughts? Any last remarks you want to share for the listeners about just this topic about the average age of an advisor, some of the things people might want to consider if they’re working with someone right now, what would then your kind of final remarks?

 

Chase Reardon: Yeah, I mean, the way I look at it is you’re sitting across the table with your prospect, you’re sitting across the table with an advisor. Can you connect with them? Do you think they have the knowledge to make you have confidence within your plan because if you can connect with them and really be on a personal level, why wouldn’t you work with them? Why does the age matter? If you can connect to them and you can see yourself working with them and then making you have the confidence, the age doesn’t matter.

 

Matthew Peck: And just to add to that too, I mean, just the idea of just, I think, the work ethic too, I mean, it’s tough because, Chase, especially when they first meet us, it’s a very kind of trust me type of relationship because they don’t know us yet. They may have listened to us on a radio or podcast or seen in a workshop, but they’ve yet to really know us. But then I think what I love about the relationship growing with clients is that soon, very soon in the process, they know that we’re sort of men and women of our word and that we’re going to do everything we said we’re going to do. And I think that I mean, I’m not sure, but I feel sometimes that’s not as common as you’d expect it to be, and so age doesn’t matter when it comes to hard work. Do you know what I mean? And you said about the connection as well. So, if you know that you have someone that’s going to be working on your behalf tirelessly, then that’s the person you want to be with.

 

Chase Reardon: I get a lot of inspiration from YouTube because I hear the stories you guys grinded when you were young and just trying to get after it. And that’s kind of the stage I’m in now, I mean, obviously, you guys are still hard-working, but when you’re younger, it’s a different kind of ballgame, as I know you guys know. So, I’m kind of in that stage and I’m trying to take advantage of it.

 

Derek Gregoire: Awesome. Well, thanks, buddy. Thanks for joining us. And I think Evan, our producer, bailed me out a little bit. It’s SHPFinancial.com and it’s under SHP Library. So, that’s that. I will to put it in the show notes as well to find you that link. But again, thank you, Chase, for joining us. I appreciate having you. We’re excited for your future, I know it’s going to be bright, and a lot of clients that know you, I know, think the world of you. So, thank you for all that you do for SHP as well.

Chase Reardon: Thanks, Derek.

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