When William arrived at my office, he was struggling to carry the box that he always brought with him to our meetings. The box was full of file folders being held together with elastic bands that were unable to keep the papers inside from overflowing.
After reviewing the investments that I manage for him, I patiently watched him open his box, and start going through the accumulation of six months worth of statements from the other institutions he invested with. I could see his frustration as he rifled through all the papers, including some mail that hadn’t been opened yet. We even discovered investments that had matured and been automatically renewed at very low rates, something he couldn’t believe that he had missed. I commented that it must be quite difficult and time consuming to keep track of all those investments, on top of all his other responsibilities. He replied, “it sure is, but my dad always told me to invest with multiple banks so they compete against each other in order to give you their best rates.”
I showed him how I am able to purchase investments from many of the top financial institutions, and how we always get the highest rate available, which honours his dad’s advice. I said “William, imagine how much simpler it would be for you to deal with statements from only one investment firm, for not only you but also the people taking care of your estate when you’re gone.” He reflected for a moment, scanning the spread of papers on my desk, took a deep breath and said, “you’re right, why don’t I clean up this chaos and let you manage these investments for me?” We signed a few forms and began the transfer process immediately.
At our next meeting, William still had his box with him, but it was considerably lighter. The process was going well, and my client was looking more relaxed. I could tell that reducing the number of statements he had to deal with was already having a good effect on him. At one point, he said to me, “It’s a great relief to have you taking care of my investments and staying on top of them so I can focus on the things that are more important to me. It feels great to have someone I trust looking out for me.”
I’m honoured to be able to make this kind of difference in the lives of my clients.