Increasing American longevity, along with the ever-volatile 21st century financial and investment climate, call for a tested, prudent and steady hand at the helm of every investment and retirement planning vessel. Greg Hoffman, Senior partner at the Nevada, Missouri-based firm, Hoffman Financial Resources, LLC, knows a thing or two about retirement planning. He became licensed as a financial planner in 1985, after having lived through “a little recession similar to the one we’ve been going through – and jobs were pretty difficult to find.”

He launched his own retirement planning practice 30 years ago, after a six-year stint as a marketing and economics professor. “We focus primarily on retirement planning. Most of our clients are approaching retirement or in retirement, and so we deal with a wide variety of people, their children and grandchildren as well,” says Hoffman. Education is the cornerstone of the firm’s strategy. “Our real strength is in educating clients and helping them understand complex financial concepts.”

Today, very few companies still offer a pension or defined benefit plan to their employees.  So, it is the employee’s responsibility to save and plan for their own retirement.

Hoffman’s view of retirement planning not only transcends age and gender, but it also hinges on trust. He and his team actively look for potential clients with the right mindset toward retirement planning. “They need to trust and like us, and we need to trust and like them. They are telling us where it hurts – as if going to see a doctor – so we can put together the most appropriate solution for whatever goals they are trying to reach.”

As an accredited investment fiduciary (AIF®), Hoffman emphasizes that he and his team see themselves as “a fiduciary on behalf of our clients.” “It’s a long-term relationship, and our clients become like family – an extension of our family – so personality and attitude are really as important as size and assets.” Hoffman insists that each client’s needs and comfort levels are paramount and unique, thus ruling out the usefulness of a cookie cutter approach. “At the end of the day,” Hoffman explains, “a lot of our value as advisors comes in helping people understand what is going on, and in not panicking when there is some external event that captures the headlines.”

Hoffman still recalls the economic debacles of 2008 and 2009, which he describes as, “truly the most frightening episode in my career.” Even though that economic crisis reportedly took an emotional toll on everyone – including Hoffman himself, his staff and clients – he also saw it as a learning experience. “I think that education will last me for some time.” He explains how clients who were reportedly scared in 2008 and 2009, are now “six years into a bull market looking for alpha. We have to really read the client and sometimes tell them things they really don’t want to hear, like chasing alpha may not be the most appropriate thing for you and your situation.”

This type of tough love isn’t easy, but it’s a duty to Hoffman Clients. “It’s not just about the numbers and returns. Everybody has their own benchmark as to what they need. We try to work from a goal-based approach instead of a ‘just maximizing your return’ approach,” says Ross Lawrence, a Junior Partner for four years at Hoffman Financial Resources. Hoffman and Lawrence say this honest approach requires collaboration with clients. “If a client can understand it, they likely won’t react as spontaneously or as emotionally as they would if they were just looking at the number itself,” Lawrence explains.

Financial and investment education, especially at an early age, is therefore a crucial element for building long-term economic security. Hoffman says he is delighted to see that many schools are beginning to incorporate finances into their curriculum. But he also cautions that while the internet has dramatically facilitated learning, “It’s a double-edged sword. Information overload can lead to short-term thinking instead of looking at the long run.”

Through years of experience counseling clients on financial matters, Hoffman realized his female clients were often less engaged in the process of financial planning. He saw repeated issues in the cases of death and divorce where the wife or widow was now starting from square one with financial matters. “We have put a strong focus on engaging the wives, and daughters of our clients in the planning process,” Hoffman noted.

In 2014, Greg Hoffman earned the “Women’s Choice Award for Financial Advisors”. This award was created by WomenCertified Inc. in an effort to identify advisors that women can trust. Advisors who qualify for the Award must go through an extensive evaluation process using 17 objective criteria. In addition, and to augment the evaluation process, the advisor’s clients are surveyed to obtain client feedback regarding service and practices.

Hoffman refers to and educates women on the resources of the Women’s Institute for Financial Education (WIFE) organization, a nonprofit organization dedicated to fostering women’s financial education. Hoffman often quotes the slogan of WIFE, “A man is not a financial plan”.

He believes very strongly that women ought to have firsthand knowledge about their finances because, from his experience, women typically outlive their spouses. He also knows that women’s lifetime income is statistically less than that of men, causing them to have relatively fewer assets to rely on. If they worked less and earned less, their social security benefits tend to be less.” This, Hoffman warns, has to be a wake-up call to women. “To be more financially savvy than they have historically been.”

Hoffman is currently Vice-President and Trustee of the board for Cottey College; a private women’s Liberal Arts Institute located in Nevada. His office is located in a Historic Carnegie Library that has been carefully remodeled to maintain its historical charm and also houses the Nevada/Vernon County Chamber of Commerce. Hoffman Financial Resources has been, “Specializing in Retirement Planning Since 1985.”

For more information visit: www.HFRteam.com