The Life and Times of a Financial Educator

The week of October 7-13 marks the 12th annual Financial Planning Week that was designed by the Financial Planning Association to create awareness of the importance of having a personal financial plan.  In the spirit of promoting a profession that we love, the Resident Financial Planners at Financial Finesse will be writing about our experiences providing workplace financial education.

How did I choose financial planning as a profession?

This is my 14th year as a financial planner and I admittedly took an interesting path to decide that I wanted to provide financial guidance to others.  My initial career path was in the field of clinical psychology.  After earning a masters degree in clinical counseling with an emphasis in child and family studies, I was working towards a Ph.D. in clinical psychology with the goal of working with parents struggling to deal with childhood and adolescent behavior problems.

Despite the enjoyment of working with others in a helping profession, I quickly realized that another challenge was waiting for me.  It was a difficult decision at the time, but my background in psychology turned out to be a perfect fit as I entered the financial planning profession.  When working with others to help them reach financial life goals, it’s important to add meaning to money discussions.

What did you do prior to becoming a financial educator?

Prior to joining Financial Finesse, I had my own fee-only financial planning practice with offices in Mount Pleasant and Greenville, South Carolina.  I also provided independent contractor work for service members and their families through the Department of Defense’s financial readiness program.  Both of these experiences really helped shape my views toward the financial planning process.

Working with soldiers and their families allowed me the opportunity to provide unbiased guidance in one of the largest employer-sponsored financial education programs out there. It also created awareness for me that the growing trend toward employers offering workplace financial education was a movement that I wanted to be a part of.  In my current role, I am able to meet with individuals, facilitate group workshops, lead webinar discussions, write content and conduct research.   All of these various roles are geared towards helping others improve their sense of financial wellness, which impacts their overall well-being.

What does it mean to provide “unbiased financial education”?

The majority of financial advisors out there selling products for a living are genuinely trying to do the right thing for their clients. But there is an inherent potential for conflicts of interest when financial advice leads to the sale of financial products such as investments, life insurance, annuities, long-term care insurance, etc. Financial education programs that are unbiased provide peace of mind that guidance is being provided in the best interests of the end user and free from conflicts of interest.

The most appealing aspect of workplace financial education is that it is commonly offered to employees at absolutely no cost to the employee. Financial planning is a relatively young profession and it has commonly just been associated with the wealthy.  The general mindset is that you have to have some degree of wealth to be able to afford to work with a financial planner.  The reality is that everyone needs a financial plan regardless of income or net worth.

This is just part of my story as a financial planner. Hopefully during this year’s Financial Planning Week, you will continue to stay engaged in your own financial planning process.  If you have access to a financial wellness program at work, take advantage of this valuable resource. Financial wellness programs vary across different companies but share the common goal of increasing financial knowledge and promoting positive behavioral change.

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