Hesh: Chris, who are you mentors?

Chris: After working with my father for a couple of years, I worked with one of the top money managers in the country for over 10 years. He was absolutely one of the most brilliant men I've ever met.

Hesh: Interesting. What's the most valuable lesson you took away from working with him?

Chris: He taught me that in order to be a successful investment advisor, 90% of my job is to help my clients avoid large losses. He came into the business in 1966, when the DOW Industrial Average reached 1000 for the first time. Eight years later, at the Watergate bottom in 1974, the DOW was at 570. The DOW didn't hit 1000 again until 1982, or sixteen years later!

Hesh: Sounds like he had a rough start.

Chris: You could say that, but in reality, that was the best learning experience anyone could ever have. The lesson learned can be summed up this way; its easy to lose, and hard to win.

Hesh: You mentioned you work for your dad for two years. Did you guys have a "falling out"?

Chris: Actually I'm very happy to say we've always had a great relationship. Besides being my dad, I consider him one of my best of friends. But I just decided I would be happier and more successful working on my own. When we were working together in the same office every day I must admit it was often very challenging. I guess the easiest way to put this is…he's easy to love, but not so easy to live with.

Hesh: What did you learn from your dad?

Chris: He taught me to step into the clients shoes and always use the mindset of "what would I do if this were my own money." This is so critical because probably the most important reason a client chooses to work with an advisor is because they really feel their advisor has their best interests at heart.

Hesh: You seem to be very fortunate to have two mentors in your career. Many people can't think of even one?

Chris: I actually have a third mentor.

Hesh: Who?

Chris: it's my wife, Terri.

Hesh: Your wife? I just met her a few minutes ago and I must admit she seems wonderful, but I got the impression she was your assistant/receptionist?

Chris: That was just your first impression.

Hesh: Chris, listen if you are in the dog house with Terri, I don't think I can help you. The purpose of the interview is to give some insight into your approach to your business.

Chris: Believe it or not, I consider Terri my business partner and mentor. Her skills have helped make the difference in my practice.

Hesh: How can she have the skills to mentor you if she isn't even a licensed advisor?

Chris: One of the biggest mistakes advisors can make is focusing on the money and the numbers…versus building a relationship and a friendship first…and finding out what's really important.

Hesh: How can Terri help you with that from the front desk?

Chris: I've started having her join me on all of my new client interviews and I can't tell you how valuable it's to have her there.

Hesh: Is she allowed to be part of the interview? I mean, if she isn't a professional advisor, she's not allowed to give advice…right?

Chris: Our first meeting has nothing to do with financial advice. It's all about what I mentioned earlier…building a relationship with my clients and trying to identify the heart-felt issues that brought them here. Everyone loves Terri because she's genuinely friendly and easy to talk to. But she's also another set of eyes and ears for me. Since I specialize in retirement planning, most of the time, I am meeting with couples. But even if it's a single person, or a widower, she's great at communicating and, more importantly, listening to what will make them happier and sleep better at night.

Hesh: So are you saying it's a woman intuition?

Chris: I am humble enough to say that, like most men, I can truly benefit from another person's help in listening. And remember, a lot of our communication is non-verbal. Most of what our clients want isn't tied to their money or the numbers…it's in the happiness, the opportunity, and the legacy they can leave to the next generation. I guess the point I am trying to make here, Hesh, is that having my wife as a part of my practice has allowed me to build a better relationship with each client.

Hesh: This time I won't challenge your comments, I will confirm them. I interviewed one of your clients for this profile and she mentioned that she initially met you when she purchased a used car that you were selling via an ad in the newspaper... The woman didn't know you were a financial planner. She was very impressed with your relationship with Terri and how you treated her, listened to her, and respected her. Only later when she found out your profession did she realize that you were the kind of person that could also help her and her husband with their retirement plans.

Chris: Thanks for telling that story. That's a great example of how our clients are looking for a lot more than just better products or investment strategies.

Hesh: This interview is for The Register, a trade magazine for over 8,000 financial advisors world wide. If you could be a mentor to one of them what would you say?

Chris: I'd tell them that the most important reasons why a client will ever choose to hire you as their trusted advisor is because they like you, they trust you, they think you are competent, and as I mentioned, they think you have their best interests at heart. I am sure that the 8,000 advisors who may be reading this article are extremely competent, but we often overlook some of those other key areas. To prove this theory, advisors should ask themselves: "What would my clients say about me if someone asked what I was like as a person and advisor?" If they don't say something like..."you'd really like them...a great person and friend...someone I can really trust...someone who I can always turn to and is truly looking out for me"...then you have a problem. I can assure you that having these kinds of relationships with your clients will take your practice to a whole new level that is much more enjoyable and rewarding.

Hesh: Your dad would be proud of you. You continue to pass along great ideas and themes to other financial advisors. Thanks for your insights.