When you work with McHenry Capital, you are hiring us to become your financial life coach, educator, advocate and confidant.
We sit with you on the same side of the table, helping you sift through the many questions and complex issues in the ever-changing world of financial management.
We get to know you and your family in a very personable manner understanding where you have been and where you want to go in the future.
We strive to get you and your spouse involved as well as your children and grandchildren to ensure continuity of your long term family succession plan.
Working with us, you can expect to gain greater peace of mind and confidence in knowing you are taking critical steps to plan your financial future in the right way.
You can also expect to achieve much greater clarity in terms of what you want your future to look like and if it will actually be possible to achieve this or not.
As a direct result of working with us, you will have a much better understanding if your retirement or encore career looks realistic and on track.
If it is off track, you will have action steps to take to know what you need to do and how you need to do it. You can expect to receive personal and specific recommendations on what needs to be done to achieve more success in those areas of your life.
Our approach in working with clients is based on core guiding principles:
- Fiduciary – we take a Fiduciary Oath to act in YOUR best interest.
- Holistic – we have YOUR big picture in mind when working with you.
- Personable – we work very closely with YOU in a very personable manner.
- Confidentiality – our relationship with YOU is strictly confidential.
- Uniqueness – we treat YOU as being unique never a clone.
- Trust – the fundamental rock that our relationship with YOU is built on.
What separates us from many other companies is our focus on helping people like you maximize and achieve their best Return on Life!
Most financial service companies just look at your financial data and determine if things will work out for you or not. They have no idea where you came from, how you got to where you are today, and what your relationship with money is really all about.
Unfortunately, life doesn’t always go along with our numbers based plans. That is why the first thing we do is check into the changes happening in your life to ensure that your financial plan is in perfect harmony with your current life situation. Everything else at this stage is putting the cart before the horse!
At McHenry Capital, we dig much deeper trying to get a better understanding of your life story and how you actually relate to money.
We call our process Financial Life Planning. It is a process that helps us really understand you, your challenges, your opportunities, and the goals you intend to accomplish over the rest of your life. Once we know these things, we help bring it all together and make it work for you and everyone else involved in your life that you depend on and who are dependent upon you.
As you can see from the FLP Wheel above, the four key areas of Financial Life Planning include:
- My History – how did you arrive at where you are today? What life-changing events or defining moments have you had in your life so far?
- My Transitions – what changes are you currently facing or expecting to face in the near future and what impact will these have on you?
- My Principles – what values and principles guide you in making your life’s decisions? Why do you make the decisions you do?
- My Goals – what would you like to do, have, and become the rest of your life? What is the best way to accomplish this?
We use the Financial Life Planning process when working with our clients.
This process identifies the “DNA” that makes each client we work with different and unique. By really getting to know you, we can do a much more effective job of helping you achieve your ultimate life’s goals.
Are you maximizing your Return on Life? We measure our client’s success using a Return on Life (ROL) Scorecard.
This scorecard is measured in 10 key areas of your life which include the following:
- Return on Work/Engagement
- Return on Residence
- Return on Achievement
- Return on Learning
- Return on Leisure
- Return on Health
- Return on Relationships
- Return on Purpose
- Return on Freedom
- Return on Security
Another difference in our approach is we are strictly Fee-Only.
Most financial service firms operate on either a fee-based or commission based approach. Commission oriented firms get paid on the specific products they recommend to you and fee-based firms can be paid via a combination of commissions and fees. There are tremendous conflicts of interest in working with advisors who are being paid by the product company providers. This is how most commission and fee-based firms typically work.
Avoid being in a situation where you have to constantly ask yourself are you in the best products to achieve your financial goals or the highest paying products that provide a commission or bonus incentive to your advisor?
Recently a lot of firms have switched over to a fee-based approach in terms of compensation. This isn’t necessarily better as they may still be using proprietary products of the firm they work for that pays them a slightly higher fee, bonus, extra points, or payout based on their production level – i.e. how much product they sell. This is never revealed to you!
Don’t be fooled – the most transparent and fairest compensation structure in the industry is Fee-Only.
This ensures you are paying a fee for advice that is not tainted in any other manner. This includes other firms who try to blur the lines by being “fee-based”. These are the same firms that refer to their advisors as “producers” and any revenue being generated as “production”. Usually they have internal sales contests to the biggest “producers” who win on your behalf so be aware of this!
Look for a truly independent (not broker-dealer affiliated) firm with a Certified Financial Planner practitioner who operates strictly on a Fee-Only basis.
Working in this kind of environment will create a much more level playing field for you as you strive to achieve your long term financial goals.
Where To Next?
Learn more about McHenry Capital by clicking on About Us