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A Further Look | Aug 29, 2017

The 5-Point Creed of A Financial Planning Coach

David B. Root, Jr.


"If you don't have time to do it right, when will you have time to do it over?"- John Wooden

The great basketball coaching legend, John Wooden lived a long and rewarding life – dying at age 99 in 2010. As someone who has served as a ‘financial coach’ for clients for more than 30 years, I have a special respect for what ‘The Wizard’ instilled in his players both on and off the court. He is well known for his various creeds dealing with one’s whole life beyond sports.

The concept of making your whole life what it should be is also the cornerstone of financial planning. I’ve broken down 5 key areas that I hope to instill in my client relationships. I’ve added some other quotes from Coach Wooden that seem profoundly appropriate in making my case for the importance of a Financial Planning coach.

1. Discipline

“It’s the little details that are vital. Little things make big things happen.”

A financial planning coach can inspire you to set aside the money to invest, save or allocate to your financial goals and protection.

2. Preparation

“It’s better to look back on life and say: “I can’t believe I did that.” Than to look back and say, “I wish I did that.”

Your financial future is in your hands. But the right advice can help you plan with more clarity and accountability.

3. Prioritization

“Today is the only day. Yesterday is gone.”

As you get busy building your family, business and your career, we’ll focus on keeping you on track to meet your long-term goals for each.

4. Perspective

“Never mistake activity for achievement.”

Just because you crossed another box off your financial to-do list, doesn’t mean you haven’t explored the best solution for your unique situation. When an advisor gets to know you personally, it becomes all about you – not the task.

5. Endurance

“It takes time to create excellence. If it could be done quickly, more people would do it.”

A trusted, ongoing relationship with an advisor makes your journey a step-by- step process with continual reviews, updates and improvements for long-term success.

There are a lot of options facing clients including a trend toward doing things themselves. Investors have also become more educated to help answer their own questions about their finances. But this only represents an important first step. There will come a time when a more complex issue arises - a family issue, retirement, etc. A Financial Planning coach will help you accelerate the learning process, optimize the impact of your financial decisions and bring a multi-disciplinary approach to your financial plan’s performance.

I’ll call on coach Wooden one more time to summarize the client/financial planning coach relationship:

“Be true to yourself. Make each day a masterpiece. Help others. Make friendship a fine art. Build a shelter against a rainy day.”

Thanks for reading.

This material has been provided for general, informational purposes only, represents only a summary of the topics discussed, and is not suitable for everyone. The information contained herein should not be construed as personalized investment advice or recommendations. Rather, they simply reflect the opinions and views of the author. D. B. Root & Company, LLC. does not provide legal, tax, or accounting advice. Before making decisions with legal, tax, or accounting ramifications, you should consult appropriate professionals for advice that is specific to your situation. There can be no assurance that any particular strategy or investment will prove profitable. This document contains information derived from third party sources. Although we believe these third-party sources to be reliable, we make no representations as to the accuracy or completeness of any information derived from such sources, and take no responsibility therefore. This document contains certain forward-looking statements signaled by words such as "anticipate," "expect", or "believe" that indicate future possibilities. Due to known and unknown risks, other uncertainties and factors, actual results may differ materially from the expectations portrayed in such forward-looking statements. As such, there is no guarantee that the expectations, beliefs, views and opinions expressed in this document will come to pass. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security. All investment strategies have the potential for profit or loss. Asset allocation and diversification do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. The impact of the outbreak of COVID-19 on the economy is highly uncertain. Valuations and economic data may change more rapidly and significantly than under standard market conditions. COVID-19 has and will continue based on economic forecasts to have a material impact on the US and global economy for an unknown period.

David B. Root, Jr.


Founder & Chief Executive Officer

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