Hays Latimer, a Senior Lead Advisor for OneAscent Wealth, has been serving clients for over 17 years. Here he shares with us tips for finding a financial advisor that will best meet our needs as well as five timeless principles to guide our financial decision making.
Choosing a Financial Advisor. Not everyone will be a good fit everywhere. It’s not just about choosing a good advisor, but one that fits your needs. Most importantly, do you believe they’re trustworthy and a person of integrity? If you don’t, the rest won’t matter.
Rely on your gut feelings, but also ask yourself if you believe the advisor would be willing to tell you hard truth. Sometimes we must deliver bad news, and it’s important that the relationship is strong enough where we can be compassionate but honest, and the client can be receptive. You also want an advisor who is a good communicator. It really doesn’t matter how smart or how good they are if they cannot communicate well. It might take some time to figure these things out, but a great way to learn more is by asking questions.
Five timeless financial principles for every income level.
1. Spend Less than You Earn. If you have a negative income every month, it’ll be impossible to reach any financial goals.
2. Avoid the Use of Debt, When Possible. Mortgage payments are perfectly reasonable. Highly avoidable debt, such as consistent credit card debt, can be a pitfall.
3. Give Generously. We’ve found that our most financially content clients are the ones who are generous. They see money as a tool, not only for their own needs, but to glorify God and meet others’ needs.
4. Plan for Financial Margin. Ensure you have cushion in your monthly cash flow, so you are well-equipped to handle unexpected opportunities or expenses.
5. Set Long-Term Goals. I firmly believe that we cannot focus on the long term if our financial house isn’t in order today.
Finding Peace and Contentment In Your Financial Life. My hope is that every one of our clients feels peace and contentment because they worked with us. It’s so encouraging for me to hear clients share how thrilled they are about the position they’re in because of what we’ve done together. If you’re looking for more clarity, confidence, and contentment in your financial life, I would love to talk with you! Contact us to learn more about how we can help you reach your financial goals.
CFP®, CRPC®, Certified Kingdom Advisor® Senior Lead Advisor