Last week I experienced a first in my industry- TWICE....
2 clients didn't have sufficient funds to pay their monthly premium, leading their personal bank accounts to be O/D. The interesting thing is that one client was a smaller term policy and the other was one of my longtime most stable clients. I looked deep into this situation to find answers and I have simply come up with- Cash Flow is tight right now. Life is expensive and a tough place to grind it out all the time, mix in some unexpected expenses and your financial situation can be a mess pretty quickly. Both clients of mine will be fine and have stable incomes, this is simply a small bump in the road but more importantly I would like to think they are both happy to have an advisor who understands and is willing to help and walk the extra mile.
This week I will be meeting with both clients to re asses their current situation of Life Insurance and other expenses that are creating a crunch. FP solutions software allows me to do this and I'll make reference to this once again.
Remember you are the CEO of your own financial situation and open your eyes to what's really going on, attack your expenses- use credible people to help you get there and most importantly believe in what your doing. We use the phrase pillow factor around here often, and it refers to how well our clients should be sleeping- if you don't feel comfortable in what your doing DON'T DO IT.
I have to get back to getting these illustrations put together on top of my other task this week, check twitter.com/bcommfinancial until the next blog tomorrow afternoon.
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