Following Through on a Commitment

When we started working together, Frank and Kathy* were already enjoying their retirement. Frank was always far more engaged in our planning conversations than his wife, who was younger than him. Kathy would say she just wasn't interested, as she excused herself from most of our portfolio review meetings. Many times, when she wasn't with us, Frank said to me things like "It's very important that we set these investments up to be as simple as possible for Kathy when I'm gone. She's going to need a lot of help. I mean, she doesn't even know how to write a cheque."  I always responded by assuring him that I would be there for her. 

Then one day, Frank was diagnosed with cancer and sadly, he passed away a few months later. I supported Kathy as we navigated through the estate process, and when she was ready, we got together to talk about her financial situation now that she was on her own. She was nervous when she said, "I know I should have paid more attention to our finances when Frank was alive, but I just didn't want to, and I didn't need to, since you both took care of everything so well."

I smiled and said, "We both know how much Frank loved looking after your investments with me. It was very important to him, that managing your finances would be as simple as possible for you when he was no longer around. He entrusted me with the responsibility of guiding and supporting you along the way.” Her eyes started welling up, so I handed her a tissue and continued, “and it is my great honour to follow through on that commitment."

Over the past few years, Kathy's knowledge has grown, and it has been wonderful to keep Frank's memory alive as we've continued working together to achieve her financial goals. In fact, her experience with me has been so comfortable that she has introduced and recommended me to friends and family members. And yes, she easily learned how to write a cheque!

*Names have been changed to protect confidentiality.