Fiduciary Standards

A Steward of Good Faith

In the debate over mandated fiduciary standards, faith-based advisors like David Nielsen, owner of Nielsen Financial Services, don’t need government to tell them to act in the best interests of their clients – it’s inherent in their biblical beliefs and philosophy about helping others.

“I am going to be held accountable as to how I serve people,” Nielson said while explaining that, according to the Bible, we are instructed to serve others as if we are serving Jesus Christ.
“As a steward, I am to serve my clients in a manner worthy of their needs,” Nielsen added. This includes creating strategies that fit the unique needs of each client, teaching and guiding them, and walking with them through difficult times.

“I believe strongly that people are in need of financial literacy, and I believe (with) what I have learned over the years, I’ve done my best to guide these folks through that,” Nielsen explained.
“Many of my clients are seeking fiscally responsible investing, but I also realize there are other people who have goals and aspirations. We try to work for their situations as they need it.”
One area Nielsen focuses on is helping clients analyze their investments and make sure their portfolios are properly diversified. Often, he noted, they have multiple investments but not a good blend among investment types.

“I find great value in knowing the entire financial picture of the client, and that allows for a client to have a well-diversified portfolio without the need for an excessive number of investment accounts,” he added.

Nielsen likens retirement investing to a three-legged stool, saying that if one leg is short, the stool doesn’t work well. His goal is to ensure that the client’s retirement is balanced and that they are prepared for success in retirement, including having a plan for how to live well and with purpose.

“I work to help my clients develop a plan that gives them a reason for living in retirement,” Nielsen said, explaining that success can come in many forms – volunteering, service, or new employment ventures. “That is important as the start to a successful new opportunity in life.”

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