From time to time, we'll ask an advisor a list of questions that we feel can benefit others in the industry. Their responses may be edited for length and clarity.
Citadel Federal Credit Union/CUSO Financial
West Chester, Pa.
What's the biggest challenge you're facing as an advisor that has surfaced in the past 2 years?
Clients see the fees they are paying and the flat market conditions we have been experiencing and question if the fees are worth it.
How did you meet that challenge?
My client reviews focus on their goals, concerns, tax management and all of the other components that go into a successful long-term plan. This has helped reassure them of the value that I provide.
What aspect of your job do you like the most?
Besides many wonderful client experiences I have thoroughly enjoyed mentoring five other advisors here at Citadel over the last 25 years. Four of them still work here.
What's the biggest mistake you see rookie advisors making?
Instead of guiding clients with their decisions, I see many advisors acting in a reactionary way and moving clients to more conservative portfolios just because the client is nervous. Instead, they should be doing a better a job educating them.
How long have you been in the industry and what's the biggest professional change you've seen in that time?
This is my 29th year in the industry, and the biggest change comes from technology. If you don’t get with the newest technology you will be obsolete very quickly.
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