A genuine holistic wealth planning approach requires understanding the personal “why” behind a client’s vision.
getty
If you walked into my office at Falcon Wealth Planning today and handed me a check for $100,000, asking me to invest it, I would have to turn you away. At the very least, I’d have to start asking a lot more questions before I could invest a single penny properly.
Why? Because that $100,000 is just a number. It’s a snapshot of potential, but without context, it’s useless for actual wealth creation. Before I can responsibly advise anyone on where to invest that money, I need a deep, holistic assessment of their entire financial landscape. I need to know, for instance, how much credit card debt this person carries, and at what crushing interest rate? What is their mortgage payment, and what are the terms of that loan? Are they preparing to send their kids to college, facing future education expenses? What about their biggest fear, the healthcare gap, and the $30,000+ per year in premiums they might face upon retiring before Medicare eligibility? What are their retirement goals? What is their why?
This is why genuine wealth management can only happen through a holistic approach to wealth planning.
The Difference Between an Investment Advisor and a Wealth Planner
Early in my career, even as a new financial advisor, I realized that something was fundamentally wrong with how many financial services companies operated. I observed that people were high-fiving over closing a deal, yet they did not actually care about the people behind those deals. The environment was “one and done”—close a deal, get a commission, and move on to the next client.
That transactional model is what creates an investment adviser, not a wealth planning adviser.
If a financial adviser does not take the time to get to know you and ask the kinds of comprehensive questions necessary for a full picture, then you have an investment adviser, not a true financial planner. Wealth planning can only happen with caring and taking the time to learning about the client. And although I manage many millions in assets, I am still the same Gabriel Shahin who worked in a bank as a teenager and got to know the customers; I still think in that holistic way.
Planning for the Whole Life: Finding Your “Why”
When a client walks through our doors, I’m not just calculating rates of return; I’m trying to understand their deepest motivations and goals. I often say that personal finance is more personal than finance.
A genuinely holistic approach requires that we understand the personal “why” behind our clients’ decisions. This means going far beyond superficial investments to ask questions like:
- What is your vision for retirement? Do you want to double your exotic trips per year?
- What is your short game versus your long game, and how will those dreams (that hobby farm or sailboat) affect your saving discipline now?
- What major life transitions (selling a business, retirement, divorce) might trigger changes in your finances? We need to ensure your finances adapt with you.
We need to see not only your current financial picture, but also where you want to be in the next year, five years from now, ten years, and so on. If you are an entrepreneur aiming for an acquisition or a professional athlete retiring at age thirty-five, your financial trajectory is entirely unique and requires a tailored approach.
If you come to me with $100,000, I need to understand how high-interest debt might be bleeding you dry first, or if you are set up for a looming tax bomb in retirement. I need to assess your risk tolerance, which is influenced by everything from your age and income stability to your personal experiences and mindset. A financial planner considers all the variables—taxes, mortgage payoff, the Social Security gap, insurance gaps until Medicare, education, inflation, and potential business sales—because there is no uniform answer to retirement questions and no one plan fits all.
I am not an order taker; I’m a relationship adviser. I take pride in partnering with my clients, helping them think long-term, and ensuring I have a comprehensive understanding of where they are and where they want to be in the future. When I have that full picture, I can partner with them to achieve true financial freedom. If they work, it’s because they want to, not because they have to.
Ultimately, the rich get richer not just by picking the right stocks, but by choosing the right partner—a relationship advisor who prioritizes caring, ethics, and a comprehensive, holistic look at their life. That’s how you customize your financial picture to reach your why.
