What is your money for?
Yes—your money. Yours specifically. Why do you have it? Why do you save it? How will you use it?
Too often, financial advisors don’t ask their clients these questions. And too often, that leads to money management practices that just don’t quite fit.
The role of a financial advisor
In the US, only 29% of Americans worked with a financial advisor in 2020. According to a Magnify Money survey, 42% of people surveyed believe that financial advisors are only for wealthy people. A quarter of those surveyed believe a financial advisor is unnecessary until middle-age.
That might make sense if the role of a financial advisor were solely to maximize already substantial nest eggs or to shepherd an individual through retirement planning. But if the role of a financial advisor is instead to help individuals and families ascertain what is most important to them, then figure out how their money can help them achieve those stated goals? In that case, a financial advisor becomes a helpful resource for any and every one—at any time in life.
Make your money work for you
At K&B, we believe that there’s no right or wrong way to manage your money; rather, there’s just the right way for you. That’s why we employ the Goldman Sachs FinLife® system as a resource to help you live your Best Financial Life—whatever that means to you
We’ve spent over 50 years advising clients, so we know that everyone views money and its role in their lives a little differently. Even within our own team, our perspectives differ. Some of us prioritize commitment—we focus on protecting our loved ones, sharing our wealth with them, and supporting the causes we care about. Others value protection—we take care to ensure we’re saving enough, living well within our means, and safeguarding our family’s inheritance. And then there are those of us who gravitate toward happiness—we prioritize living life to the fullest, and we don’t want to sacrifice near-term goals as we plan for the future.
Perspectives on money aren’t one-size-fits-all. Financial planning shouldn’t be, either. Financial planners might offer different advice to a commitment-minded person, who cares deeply about their legacy, for example, than to a happiness-minded person, who might be willing to sacrifice a larger savings account for more immediate liquidity. A more risk-averse strategy might not be the right fit for such an individual, but the same strategy might instill significant comfort and confidence in a protection-minded person.
To maximize your happiness and satisfaction, we as your financial advisors first need to understand your aspirations regarding your wealth. That’s why we use the FinLife® system.
What is FinLife?
Developed by Goldman Sachs, the FinLife® system is a unique way to establish a plan that allows your money to serve you—and not the other way around. It’s an entire wealth management system designed to help you navigate life’s uncertainties in a way that’s best for you.
We employ the FinLife® system with all new clients as part of their onboarding with our firm. Once we understand our clients’ goals, we can use that knowledge to help them make financial decisions that support the factors that matter most.
We start by having Honest Conversations® about you and your goals, which helps us determine your MoneyMind® (i.e., Commitment, Protection, or Happiness) and investment preferences, then forge a plan forward that supports your vision.
At the end of the day, your plan will be just that—yours. If and when your goals or circumstances change, we’re here for you to grow with you and adapt our strategy so you’re comfortable and confident in your ability to achieve your goals.
We listen. We learn. We invest.
When you work with K&B, you’re signing up for a relationship. We’re not going to apply a cookie-cutter approach to your finances, because we know your life and your goals are anything but generic. Our tools and systems help us listen to you, learn from and about you, and make a plan that works—for you.
Ready to get started?
Explore the FinLife ® system for yourself. Get started by taking our Money Mind ® quiz today.
United Capital Financial Advisers, LLC d/b/a Goldman Sachs Personal Financial Management (“GS PFM”) is a registered investment adviser and an affiliate of Goldman Sachs & Co. LLC and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization.
GS PFM is not affiliated with Kimelman & Baird, LLC.
All names, logos, and slogans identifying GS PFM or GS PFM’s products and services (including, without limitation, HonestConversations®, MoneyMind®, FinLife®, Financial Control Scorecard®, Live Richly℠, We Help You Live Richly℠, Helping People Live Richly®, One Best Financial Life®, Ideal Life Index®, GuideCenter®, InvestmentViewfinder℠, United Capital Financial Life Management®, and Financial Years of Freedom℠) are trademarks and service marks or registered trademarks and service marks of United Capital or its affiliates in the United States and/or other countries.
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