Barron’s Advisor News discusses how financial advisors connected with clients during the pandemic in their latest article, ‘Pie Drive-Bys’ and Celebrity Chefs: Will Pandemic-Era Client Events Outlive Covid? Gone were the traditional in-person events, replaced by virtual gatherings, drive-by events and more.
Included in the article are Michael Brady and Generosity Wealth Management’s ‘Seven Days of Thanks.’ When the annual client appreciation movie event couldn’t happen at the end of 2020, the online event filled in.
“Over a seven-day period, he sent clients seven emails, asking a thought-provoking question each day. He asked them, for example, to describe a personal success that made them most proud, where they dream about living, and their favorite charity.
Clients who responded were eligible for a small daily prize, and at the end of the week, Brady donated $500 to one winner’s charity of choice. The effort gave client’s a bit of what they ‘were craving’ Brady said.”
It will never rain roses: when we want to have more roses, we must plant more roses. ― George Eliot
80 percent of reaching your financial goals is clearly defining them and having a plan for how to get there, proactively discussing any speed bumps, big or small. One of the speed bumps that I’ve identified personally, is dying prematurely.
While it may be difficult to think about your own mortality, it is essential. For me, it is not just my personal life that would be impacted, but my clients’ as well. Financial planning is deeply personal, so ensuring that there is someone who can step up in the untimely event of my incapacitation or death is critical.
In this video I chat with fellow financial advisor, Chris Schipske of Columbia, Maryland. Chris would act as my successor in the event of my death, which I hope doesn’t happen for many decades.
Listen for more on the importance of planning ahead.
Hi clients and friends. Mike Brady here with Generosity Wealth Management, a comprehensive, financial services firm headquartered right here in Boulder, Colorado.
Today I have a special guest with me, Chris Schipske. The reason for my video today is I practice what I preach. I’m always telling you that it’s my believe that 80 percent of reaching your financial goals is clearly defining them and having a plan for how to get there, and to proactively discuss the speed bumps, life’s speed bumps, that happen whether they’re small or whether they’re big. As I was looking at my life over the last – I’ve actually been thinking about this for many years – I realized that one of the speed bumps is that if I die prematurely. I have to tell you that I’m in excellent shape. I’m very proud of this and I work really hard. I hope to be your financial advisor for at least the next 20 years, if not longer because I absolutely love what I’m doing. It’s been 30 years now, almost 30 years I’ve been meeting with clients and I hope to do this for another 20 years. But, this is where it involves you. If I was to die, I want to make sure that you’re well taken care of and I also want my wife to have someone that she would trust and could go to.
I’ve known Chris Schipske for the last ten years, if not a little bit longer. About a year-and-a-half ago I reached out to Chris and said, “Chris, you and I have been friends and colleagues for many years and I’ve told my wife that I would like her to talk with you if I was to die.” Hopefully that doesn’t happen for many decades. You and I are together at the old folks home and in our 90s. But, god forbid it happened I would want her to come to you. I trust you so much, Chris, that I want to offer you to my clients as well. If I was to die I would want you to, without a lot of disruption, be able to come in here – and I know you would because you’ve been doing this for almost as long as I have, for decades, and you would see how my clients are. Hopefully, in the coming years as you come out to Colorado – I know you have Colorado clients. We have some clients in common, but you’ll get to know some of my clients as well. They know that, once again, if I was to die I have someone that they could rely on. So Chris, would you mind just sharing a few things about yourself because it feels like I’m doing all the talking. So, go right ahead Chris.
Sure, sure. Mike, first of all thank you so much. It’s really nice to be able to get together with you on occasion. I remember the days when we could get together in person and that was a lot nicer and hopefully we’ll get back to that. It seems like COVID-19 is starting to wane a little bit and maybe we’ll be able to get back to some sense of normalcy. You mentioned and you’re right. It’s nice to find someone who thinks like you, maybe gets your jokes a little bit. Over the years we’ve bonded like that and found each other in that business sense that we could trust each other. I really truly appreciate the trust that you put in me. Like you said earlier, my name is Chris Schipske. I’m right out side of Baltimore, Maryland and it’s where I call home. A little town called Columbia, Maryland. I’m married and I have two daughters. I’ve been doing this for over 20 years now so I’m ready to step in if needed, but I hope it’s not needed. I want to stress that. If needed, yes, I’m here ready for you and your clients and your wife.
Like you mentioned, I am a CPA as well as a CFP so I have a very active tax practice as well as an active investment advisory practice here in the Maryland area. We do span across the country and I’ve got some clients over there in Colorado. We’ve talked that I’m going to be making my way out there more and more when hopefully COVID allows that sort of thing. I’m looking forward to it.
Well, thank you Chris. For everyone who’s listening Chris actually has a very successful business there right outside of Baltimore. He’s got a tax practice, a financial planning and wealth management just like I do, with many staff which is great. He and I have slightly different business models. Currently as you know I don’t have a lot of staff. That’s by design. I have a very deep relationship with a small number of clients. What I like about Chris, and this has been my experience and the clients that we have in common is he has a very deep relationship with those clients as well. He really spends the time in order to understand what’s important to the individual client and how to meet those needs. Now he is in Baltimore, but frankly one thing that the last year-and-a-half has shown us is that Zoom works great. He comes out to Colorado quite often and is going to continue that as we continue to work together. Frankly, we increased the number of clients that we’re working with together whether it’s on the financial planning side or whether or not he’s handling the CPA work, the tax and all this advanced and sophisticated estate planning from a tax point of view. I’m doing the financial planning, et cetera, so it’s not a problem.
I want to offer Chris as someone that is trusted for me and I want to let you know that you’ve got to practice what you preach which is I would be a hypocrite if I said you need to be prepared for the loss of your spouse, the loss of your ability to work, all of these really bad things that can happen and that can derail you from reaching your goals if I, too, didn’t take a very serious look and say what could derail my family? What could derail my clients? Which would be me leaving you in the lurch. I don’t want to do that.
So, thank you Chris. Thank you clients and we’ll give a little bit more information on Chris in the link. I’ll also put your website on there and we’ll have you back here as a guest periodically over the coming years.
Sounds good, Michael. Thanks. Absolutely. Thank you Chris and thank you clients. You have a wonderful day. Bye-bye.
Time for my annual book review, and in 2015 I ended up reading 95 books, less than the 118 in 2014 but I also had a pretty busy year (lost 40+ lbs, started martial arts, expert in over 40 different publications, etc.).
54% were fiction 46% non-fiction. 70 of the books I rated 4 or 5 stars, so I chose well. I read 11 personal development books, 15 business, and 18 general non-fiction.
My favorite fiction was probably Genesis Extinction Point #4, which doesn’t help you if you haven’t read books 1-3. It’s a dystopian view of a plague brought by an invading alien race. Totally didn’t know where it was going, and very creative.
My favorite personal development book was Extreme Productivity, which taught me the OHIO principal Only Handle It Once. My favorite business book was How Winning Works by Robyn Benincasa, an extreme sports professional I saw speak in August. My favorite general non-fiction was American Icon, a book about Ford Motor Company in the 2000s. Fascinating.
My least favorite book by far was Tony Robbins’ Money Master the Game. Horrible writing, horrible analysis and conclusions.
I’ve had a great time this year being interviewed by many journalists, allowing me to share my thoughts with others.
I was going to post or email each time I was quoted, but there have been so many (Wall Street Journal, Forbes, DailyFinance, US News and World Report), that I was afraid you’d think I was some media hound and it’d get boring.
So, I’ve added a new page to my webpage that will keep a running tally of all my mentions in the general press. You’ll notice the advice I give is far ranging, which is what you’ve come to expect from me.
There are few things as sweet as your first mention in the Wall Street Journal. March 10th was the day Mike Brady arrived in print!
Since I was written up in the TheSuit Magazine, I’ve had a number of requests for interviews, expert quotes, and general articles about how I interact with clients.
I provide distinction from others in my field in the relationships I build and how I focus on the “why”, vision, and goals. Activating your creative “right brain” is just as important as the logical “left brain”. I’ve been interviewed on this recently for a technical journal, and will share it with you once available.
Anyway, if you want to see your advisor/friend in the Wall Street Journal, I’m just a click away!
Okay, I know privacy notices and my Form ADV could be considered boring, and after the video above (which you clicked on of course), you want a continuation of the most exciting new information in the world.
Well, privacy policies can sort of be interesting, can’t they?
And my ADV tells you all kinds of things about me, like when I was born, where I went to school (Go Hurons!), and all about my professional registrations. It also lists my outside activities, charities and other non-profits I’m involved in.
Have I sucked you into clicking on either of the links yet? Don’t say I didn’t try. (You know secretly want to).