Personal Relationships and Goal-Based Strategies

The question “Where do you see yourself in five years?” doesn’t just apply only to career goals. For Carol Friedhoff, Certified Financial Planner™ professional and president of Savvy Outcomes, Inc., this is a question she asks her clients when sitting down to discuss investment strategies – and it’s the basis for an investment philosophy that she feels helped her clients weather the recession with minimal impact.

Believing in the “buy and hold” approach to investing in the stock market, Friedhoff noted, “The key is looking at their five-year goals. Retirement? Travel? College expenses? If they have enough money set aside in a short-term account for those, then with a downturn all they are going to see is a paper loss. They can sit tight until the market recovers.”

Educating clients about asset allocation and about determining how much to put into stocks versus interest-earning investments is a foundation of Friedhoff’s client relationships. She added that finances are very personal, and although online tools are prevalent these days, they “are not robust, and they don’t help the people who need help.” They cannot replace the personal touch a CFP® can provide.

“There’s more to planning than just investing,” Friedhoff said. Individual situations arise where clients want to know their financial planning partner understands their circumstances and is able to provide guidance and solutions targeted to their specific needs.

Planning on a personalized basis includes looking beyond the market. “Rather than looking at external risks and things you can’t control,” Friedhoff explained, “we look at what their risk exposure is.” This includes factors like home or business ownership, career trajectory, age and goals. These factors are then used to determine the right investment strategy for each client.
Through her planning savvy, Friedhoff has earned the trust, respect and ongoing satisfaction of her clients – a professional and personal success that she insists is “immeasurable.”

For more information, visit: www.savvyoutcomes.com