From diversifying with annuities to ensure a guaranteed return regardless of market corrections, to protecting clients from the long term care expenses that can quickly eradicate savings, Penney loves seeing the look of relief on her clients’ faces when they realize that she’s already helped them prepare for just such a crisis.
Penney, who had dreams of being a stockbroker even as a little girl, views her advisory role as being more than a profession – being able to help others manage their wealth and resources is a gift she is able to share. “When they’re concerned and you can see that you’ve brought them calmness, you’ve been given a gift and skills to help other people,” she said.
“When you work with somebody’s money, you don’t just work with their money – you work with their lives. You become integral to them, and they to you. There’s a lot of love that goes on, and that is what inspires me.”
Penney began her career with the big firms, deciding to go independent after the recession. Although the transition came with some challenges – such as having to learn everything from printer maintenance to regulatory compliance – Penney knows it was the best decision she ever made. Looking back, she can see how those larger firms where she worked made profits the priority over protecting clients, a practice that left a bitter taste in her mouth.
“We all have a responsibility to our clients to make sure their money is being placed correctly,” she said, explaining how she thoroughly researches all products by reading company contracts, books and income statements, as well as making sure they meet external compliance standards before offering them to her clients.
Ensuring that her clients understand their investment choices is paramount, and avoiding jargon is key. “I’ve always believed that it’s been about speaking the language that people understand. You can dress it all up and try to look like you’re smart,” she said. “But, I don’t think it does anything but get you in trouble. I’ve always tried to use language that people understand: clear and concise.”
Penney believes that all too often people postpone investing because the choices are overwhelming. Being a coach to help guide them so they can get started and stop missing opportunities to prepare – and then staying with them along the way – is why she loves what she does so much.
For more information visit: www.penneywisewa.com
Susan E. Penney is registered with and offers securities through Kovack Securities, Inc. Member FINRA / SIPC. 6451 N. Federal Highway, Suite 1201, Ft Lauderdale, Fl. 33308 954.782.4771
Advisory services offered through Kovack Advisors, Penney Wise Wealth Advisors, LLC is not affiliated with Kovack Securities, Inc. Penney Wise® Wealth Advisors, LLC is located 10900
Hefner Pointe Drive, Suite 302 Oklahoma City, OK 73120 405-418-7629
