Today’s Celestial SpotLight features Forrest Baumhover from westchasefinancialplanning.com.
What is your profession?
I’m a fee-only financial planner. I help people understand their money so they can tackle their financial problems and focus on their path to financial independence.
Who are your ideal clients? Who do you heal or help?
I have two ideal clients:
1. Military personnel or families who are separating or retiring from active duty.
2. Tampa-area folks who feel like they’re doing all the right things, but either had a bad experience with a previous advisor, or have often heard, “Sorry, you don’t meet our minimums.”
How do you help people?
Usually, when people talk to me, there is a big financial issue or challenge. We work together to tackle that challenge so they can start to feel in charge of their finances. Once we’ve accomplished that, we take a look at the rest of their finances, build a plan and work to execute it. It doesn’t happen overnight, and it doesn’t happen without a whole lot of work. I expect to come prepared to work, and I expect my clients to be willing to be involved as well. I don’t work well with people who tell me, “I don’t need financial planning, I just want you to invest my money for me.”
What is your typical day like?
Most of my workweek is structured with flexibility in mind for two reasons: family and clients. I strive to be available for my family as much as possible, whether it’s biking to school with my twins in the morning, or helping their older brother with algebra after a long day of school and swim practice. I also strive to be as ‘available’ for my clients as possible. My clients all know that they can contact me at any time, for any reason. Even if we don’t need to meet in person, we touch base via email or text.
Aside from that, I look for ways to help people. It could be building a continuing education personal finance course for Florida Realtors or writing a useful article for my blog. I spend a lot of time trying to figure out how to create value for people for free.
What makes your job so much fun?
My job is fun because I surround myself with people I enjoy being with. Some of them are clients, but many of them are people I’ve given free advice to, even if they weren’t a good fit as a client.
My clients are people who recognize that I strive to provide a lot of free education content. They recognize this value and want to personally work with me. I truly value those relationships, because I know that there’s a lot of mistrust in my profession. And I have the flexibility of having conversations with lots of people just to learn a little more. Conversations where I have no expectation of ‘getting a client’ are some of the best ones!
What is your favorite quote?
“You have not lived today until you have done something for someone who can never repay you.” -John Bunyan
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