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How did you do in 2008, 2009 and 2010?
Your profession is not what brings home your paycheck. Your profession is what you were put on the earth to do as a professional---with such passion and intensity that it becomes your stage--- to not only impact others in significant ways, but to also discover your gifts and realize your potential
Creative Financial Design's Certified Financial Planners™ are fee only Asset, Financial, Life and Wealth Managers. They uses tactical risk based asset allocation to get the most out of your assets during good times and protect your assets during down markets.
What does all that mean to you? We ask clients a series of questions to help us design a financial plan based upon each client's personal dreams, goals, hopes and values. We design an investment portfolio based on each client's risk tolerance level and values.
However, after 36 years in the business, we know that a client's best laid plans will sometimes have to change. Life seldom moves in a straight line; situations change, employers change, the size of families changes and economic conditions change.
For that reason we monitor our clients' personal situations, investments and world economic conditions. When any of these areas change, we try to adjust to meet our clients' needs.
Most financial planners set up an asset allocation and rebalance that allocation quarterly, semiannually or annually. We usually will allow a longer period of time between rebalancing to try and get a little more out of investments that are currently hot.
Most planners believe it is best for clients to ride the markets up and down. We agree with this during normal periods of times. However, there are times when economic conditions signal coming problems. For instance, during the fall of 2006, interest rates signaled the 2008 recession. We started warning our clients about this and began to make changes within clients' investments to protect them. In November of 2007 oil prices signaled more problems were coming and we made more adjustments to protect clients.
That is part of what we think a Wealth Manager does. Sometimes (like in 2006, 2007 and 2008) a portfolio is adjusted to protect against a possible economic downturn. Other times clients' risk levels are adjusted up to help them meet their goals during good economic conditions. Once clients are assured they can meet their goals, it may be possible to lower their risk levels even in good economic times. The trick is to help clients get where they want to be. Trying to always beat the market or pick the best stock sounds good, but no one can do it all the time.
During the 2008 economic meltdown a lot of people's homes and investments lost a great deal of value; other people lost their jobs. This type of thing often causes a life adjustment. Other times, a spouse might die, there may be a divorce, there may be a medical problem popping up, there may be a desire to change professions or to work less or retire early. This is where Life Planning comes in. Over the years we have seen all of these times happen and have helped clients.
Financial Planning teaches a planner how to crunch the numbers to show clients where they are and what it will take to get where they want to go. It is the starting point of clients' financial plans. However, without the knowledge that is acquired over time (Life Planning and Wealth Management), clients may not get where they want to be.
A Registered Investment Advisor Since 1984