Brittany Gabelein, CPA

How many clients can an advisor effectively help?!? The industry "experts" consistently say somewhere between 50 and 150 households. Complete nonsense! Conventional wisdom loves rules of thumb. Some of them even make sense, but not in this case. I recently read an article (from someone marketing to advisors...not an actual advisor) talking about the "Rule of 150," or Dunbar’s Number, popularized by British anthropologist Robin Dunbar. It suggests that individuals can effectively maintain only about 150 stable relationships. The Rule of 150 is based on the cognitive limit to the number of people with whom one can maintain stable social relationships – relationships in which an individual knows who each person is and how each person relates to every other person. The writer concludes for financial advisors, this rule can be interpreted to mean that managing beyond 150 client relationships may compromise the quality of service and attention each client receives. NO! We have helped thousands of households under our agreements (and want to help hundreds of thousands more!). That actually happened. I don't need a rule when I experience my reality every day. How is that possible you might ask?!? * I am not trying to be social friends with the people we help. I am a fiduciary financial advisor providing planning and advice. I don't need to remember intimate details of their personal lives like in a family or friend situation. * We work in defined niches established by our group advisory agreements. We know their financial details before we meet them! * I have Ellen to help me! She is amazing and working as a team leverages our ability to help more people. * We embrace technology! People are shocked by what I remember about them. It isn't me. It is a technology reminder...kind of like your wife remembering the birthdays of everyone's children when I forget within seconds. * I have a small family and almost no friends...that apparently frees up my mental ability to help more households!😅 If an advisor has a large family and lots of friends, amounting to over 150 social relationships already, does that mean they cannot be an advisor?! 😲🙄😂 The world is filled with endless amounts of noise. Some of it makes sense, but a lot of it does not. You need to have the confidence to ignore others imposing their nonsensical limits on you! The world is experiencing a death of common sense. "Experts" come up with "rules" and then those rules are applied inappropriately to reach conclusions that become conventional wisdom and get repeated over and over until people believe it is true. I believe those that get ahead in life maintain a high level of intellectual curiosity and have a much greater tendency to question the noise. Yes, I have learned few people like a person that questions conventional wisdom, but curiosity and questioning have become extraordinarily valuable in a world lacking common sense!

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Do you have a financial advisor but aren't sure about the fees you're paying? You're not alone—it's a common issue in our industry. I've written an article to bring clarity to this crucial issue. You might be surprised—perhaps even shocked—by how high advisory fees and poor fund selection can erode your wealth. Empower yourself with the knowledge to make informed financial decisions. Read the full article below: https://lnkd.in/gTGMdf7n

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For many advisors realizing the full potential of their profession requires a significant shift in perspective. It means leveraging metrics that focus more on what clients think about advisors, rather than what advisors know about clients. Let me say that again. It means leveraging metrics that focus more on what clients think about advisors, rather than what advisors know about clients. This shift is important to accurately capture the essence of the client experience and in guiding strategic decisions that truly enhance practice value. #rqi #practiceintel #innovation #financialadvice StreetCred PR Matt Halloran

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Financial advisors who charge fees to clients based on a percentage of your investment assets under management (% of AUM) then the advisors largest customers often get the most advisor time and resources even though advisors will tell you until they are blue in the face that is not true. It's just commonsense. If all clients get the same services then maybe all clients should pay the same fees regardless of the size of their investment assets. Investment asset size should have nothing do do with price of services.

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I launched Ellevate Advisors to help advisors with their personal financial plans just like they help their own clients thrive. 🪴 When advisors ask for help, it demonstrates character and maturity! Vulnerability is STRENGTH. 💪 If you are an advisor having trouble reaching out, you can feel safe here. 🛟 This is also a great opportunity for spouses to join forces and make educated, confident decisions about their finances and future. 💞 Your financial advisor should be on the list of people you call in the days after an emergency! 🚑 We value your experiences and insights while providing a judgment-free, objective perspective on how to align your money with your values. 💸 If that sounds like something you'd benefit from, let's chat. We always offer a free consultation, and I'd love to help you accomplish your dreams and goals! 🎯 #FinancialPlanning for #Advisors

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"Buying time" is a transformative concept I've taught clients, shifting focus from traditional, often intangible savings goals to something more practical and immediately beneficial. Many savings strategies are complex and unrealistic. For example, financial gurus might suggest saving $1,000 as a mere first step, or not investing until you have $100,000. However, I propose a more relatable approach: focus on buying your time back, one hour at a time. Here’s how it works: Determine your hourly wage. Your initial milestone should be saving enough for one hour of your time, placed in a separate account that's harder to access. If your hourly rate is $15, start by saving exactly $15. The significance of celebrating this first $15 is profound. If an unexpected need arises to leave work early or if you're short an hour on your paycheck, this small cushion allows you to handle the situation stress-free. The act of celebrating—be it a simple fist pump or a dance—reinforces this achievement, making the experience memorable and satisfying. This method scales quickly. Save for two hours, then four, and soon you'll have enough for an entire day. This is especially empowering if you need to take a day off without pay. Continue this pattern, and suddenly, you've saved enough to comfortably take a week off—a notable achievement for many. By building up to two weeks of savings, you grant yourself the security to give two weeks' notice without fear of immediate financial repercussions if your employment ends abruptly. This milestone isn't just about job flexibility—it's about peace of mind. Expanding this buffer to a month's worth of savings lets you afford to take time for personal reflection and dreams without financial strain. This approach not only redefines the concept of an emergency fund but also highlights how managing your savings in this way can provide substantial emotional and financial freedom. To those who've followed this post to the end, how might you start applying the "buying time" method in your life? Could this approach change how you think about money and work? Remember, increasing your savings incrementally without expanding your expenses is key—not just for financial stability, but for building a life where work is a choice enriched by security and freedom. If this perspective resonates with you, please like, share, and comment with your thoughts or experiences. Let’s discuss how we can redefine financial independence together. Catch you all next time!

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Financial Advisors, how well do you understand Social Security dual entitlement rules? These rules cover several benefit types, but the spousal benefit is the big one. Here are some quick facts: As of 2022, there were 7.5 million dually entitled retirees. → Nearly 96% of these retirees are women. → More than 80% of these women receive reduced benefits due to filing early. → On average, a dually entitled woman receives 68% of her total benefit from her own work history and 32% from the spousal payment. A good place to double-check your calculations is my Spousal Benefit calculator. https://lnkd.in/gJwX2BxE #socialsecurity #women

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Financial advice clients don't want only your expertise. They also want your humanity. They probably aren't thinking in those terms, and you probably aren't either. But that's the reality of modern financial guidance. Our shared humanity sits at the center of every real financial planning conversation, tackling not just want we want to have or do, but also who it is we want to be.

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Have you ever asked yourself these questions about the letters after your financial advisors name... "What are those?" "What do they stand for?" "What're the benefits?" Those are called designations. The most important thing about any designation, is they all require continued education, which I think is beneficial. A lot of professions outside finance require the same thing if you're in healthcare, law, etc. It's important to make sure that I'm staying up to date with all the most relevant things that are surround financial planning. #financialplanning #designations #CFP #CHFC #RICP

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This session, lasting less than 30 minutes, provides an overview of our comprehensive approach to achieving harmony in your financial goals and practices. Inspired by the parable of the three stone cutters, the course underscores how perspective shapes our engagement with money. You'll learn to navigate your financial patterns together, address challenges head-on, and establish shared goals and values. https://lnkd.in/gN6-aNjk #financialwellness #financialliteracy #employeebenefits

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How to ride out a stock market storm? Ray Lucia Jr. CPA/PFS and I discuss how The Bucket Strategy® helps retirement investors manage their behaviors by having a long-term time horizon for risky investments while having enough safer investments to buy the time needed to ride out the storm. Watch or listen to the full Vaulted Views with Ray Lucia Jr. episode: https://rayluciajr.com/

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Your company benefits package is more than just a list of perks—it's a valuable resource that can help you build a stronger financial foundation. Check out these tips to make the most of your benefits package! I'm here to help you navigate your company benefits and leverage them to achieve your financial goals. Let's work together to take steps towards maximizing the value of your benefits package and securing your financial future!

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If you're in your 50's/60's and in or near retirement, you probably wonder if you're doing everything you can to have a secure and satisfying retirement. I would love to help you understand all the opportunities in your retirement planning so you can truly enjoy your retirement life. Here's a short video that introduces my firm and what sets us apart. We work virtually with clients across the nation, so feel free to DM me for more information or schedule an introductory call to see if we are a good fit to serve you. https://lnkd.in/gv_gF_Py Hi, I'm David! Are you a corporate manager or director in your 50's/60's and thinking about retirement? Follow David Edmisten, CFP® and ring my 🔔 for retirement planning tips to help you retire confidently!

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