Andrew Hanson discusses finding the right investment vehicle
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-andrew-hanson-vice-president-of-generations-wealth-management-discussing-finding-the-right-investment-vehicle/
Andrew Hanson, Vice President of Generations Wealth Management, discusses the importance of selecting the right investment vehicles for retirement. Andrew shares his unique journey into the financial services industry, which began eight years ago when he joined his family business. Despite initially feeling hesitant about entering a field dominated by numbers, Andrew’s passion for community service and helping others, shaped by his volunteer work with Special Olympics and connections with military families in San Clemente, California, guided him toward a fulfilling career in finance.
Building a strong relationship and understanding clients’ individual goals is crucial for providing tailored investment advice and solutions. In the podcast episode featuring Andrew, this concept is emphasized as a foundational element of successful financial advising.
Andrew highlights that establishing trust is essential in the financial services industry. Clients often come in feeling vulnerable, sharing their financial situations and concerns. A competent advisor must create an environment where clients feel safe and understood. This trust allows clients to open up about their fears and aspirations, which is vital for crafting personalized financial strategies.
Each client has unique circumstances, goals, and concerns. Andrew points out that a one-size-fits-all approach does not work in financial planning. For instance, younger clients in their 30s and 40s may focus on budgeting, family planning, and long-term growth, while clients in their 60s and 70s may prioritize security, income stability, and legacy planning. By understanding these differences, advisors can tailor their recommendations to meet specific needs.
Initial meetings with clients should focus on understanding their overall goals and what they envision for their future. Andrew emphasizes the importance of asking clients about their dreams, such as spending time with grandchildren or traveling. This goal-oriented approach helps advisors align investment strategies with clients’ life aspirations, ensuring that the financial plan supports their desired lifestyle.
Once an advisor understands a client’s goals, they can recommend investment vehicles that align with those objectives. For example, Andrew discusses the use of fixed index annuities, which can be tailored to address specific concerns such as long-term care, income guarantees, or wealth transfer to heirs. This customization is only possible when the advisor has a deep understanding of the client’s individual situation.
Building a relationship with clients is not a one-time effort; it requires ongoing communication and check-ins. Andrew notes that as clients become more comfortable, they may prefer less frequent updates, trusting their advisor to manage their investments effectively. This dynamic allows for a more relaxed relationship while still ensuring that the advisor remains attuned to any changes in the client’s life or goals.
Life circumstances can change, and so can clients’ goals. A strong relationship allows advisors to adapt their strategies as needed. For instance, if a client’s financial situation changes due to a job loss or a new family member, the advisor can reassess and adjust the investment plan accordingly.
Andrew shared: “As a trusted family-owned firm, we blend our deep-rooted values of integrity, trust, and reliability with innovative financial expertise. With a commitment to excellence, we strive to be the beacon of financial stability for generations to come, fostering prosperity and peace of mind within the families we serve”
About
Two generations of trusted Hanson financial professionals serve multiple generations of clients concerned with financial goals, wealth management, safety, security, and estate planning. Richard Hanson, President of Generations Financial & Insurance Services, began his career in 1983. He is currently an educational speaker on retirement and money management. Mr. Hanson is Designated as a Certified Senior Advisor (CSA). He Currently Holds a membership with the National Association of Life Underwriters. 2011 Insurmark Hall of Fame Inductee. Andrew Hanson, Vice President of Generations Financial began his career in January 2016. He is the Head of Case Design Team & Digital Outreach. He hosts numerous Seminars educating our community on such subjects as; Social Security, RMD’s, Asset Protection, Legacy Protection, College Funding and IRA / 401(k) Analysis.
Learn more: https://www.generationswealthmgt.com/
Recent Interviews and News
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