I am NOT a Charity
- Posted by Stephanie
- 26 January 2012
- Blog, Cash Flow, Debt, Development
I was having a conversation with a financial-product wholesaler today. I don’t sell financial products any more but I had great relationships with my wholesalers and still keep in touch with most. We were having a lovely conversation when a strange comment was made about how nice it was of me to work with people who have no assets, no money and just really need a leg up. —I stopped mid-thought. Why would this person think I’m a charity? The wholesaler knew me when I produced and knew I did well. What would lead this fellow industry professional to conclude I was a charity? Then it occurred to me; while wholesalers knew me well, many of them never really knew the exact make up of my clients and may not have concluded it was my focus on both sides of the balance sheet that steadily helped me increase the quality and size of my clients throughout my career.
Then I thought to myself, why would I assume that the wholesalers knew any different if advisors, and even many clients, made the same assumption, that to benefit from debt and cash-flow planning one must be in trouble, have a low income and no assets? Of course people in this category exist and that’s why I write free blog posts and articles and affordable books; however there is a whole sector of the population who have saved for retirement but still have debt. These people can afford my help; I can be exponentially valuable to them by changing their debt structure and giving them a cash-flow theory to follow. I can show them how to increase their wealth by hundreds of thousands of dollars just by making these changes. These people also incidentally meet most advisors’ definition of an ideal client. Many quality clients would benefit greatly by ensuring their debt structure works as efficiently as possible and knowing how to manage their spending while still enjoying their lives.
I know my value and I can prove it. So NO, I am NOT a charity, I am NOT not-for profit. I am a businesswoman, I am the primary bread winner in my household and I am NOT cheap, but I AM valuable and I promise to be worth more than my cost.
4 Comments
Linda Daley
January 27, 2012 1:03 pmI'm standing up and vigorously applauding from the back row. Go Stephanie!
Stephanie
January 27, 2012 1:24 pmThank you very much Linda! You are also NOT a Charity and worth every penny!
Olga
January 31, 2012 11:29 amInteresting article, I wish I knew more about all the subject, will try to read up more of your posting; but somehow, sadly, “charity” sounds here as a dirty word, in a condescending sort of way, as an opposite of meaning “worth”
Stephanie
January 31, 2012 12:07 pmThank you for your comment. Please understand I'm not implying that charity means without value, or that being a charity (if thats what you are meant to be) is bad. I'm saying that many of my peers in the financial services industry think for many reasons that helping clients manage debt and spending must be volunteer work and they don't understand that not only is it very valuable to those I work with it is also profitable. In my line of work many (women especially) get caught up with the idea that earning money is a bad thing, that it is more honourable to do things for free. I'm simply saying that we teach people how to treat us and if we teach people that what we do with our talents is free than that is what people will expect. Please take no offence this piece is not about actual charities it is about empowering people who do good and powerful work who earn a living doing that work to value it. I stand by my choice of words though.