Case Study: Betty

Betty is a volunteer helping families in crisis. She’s married to Tom, a retired Air Force pilot. They have 5 adult kids, some of whom have special needs. Tom always took care of the family finances, but when he was diagnosed with a chronic disease he couldn’t continue to do so.

GOAL

When Tom had to be hospitalized for a chronic disease, Betty had to make a lot of tough decisions. One of them was to find someone they could trust to watch and manage their finances, a task her husband had loved and had been very good at.

Betty also wanted to set up her will to ensure their children would be taken care of.

CHALLENGES

Betty had never touched the family finances. That was Tom’s field. She was concerned about how her husband would feel about partnering with a financial advisor after so many years of managing their assets on his own.

With 5 adult kids that needed to be taken care of, a hospitalized husband and many hard decisions to face, Betty felt overwhelmed.  When a friend recommended their own financial planner, Betty jumped at a chance to meet with him.

APPROACH

This financial advisor interviewed both Betty and Tom individually. He asked them about their goals, risk management, desires, and general approach to life. 

He developed a personalized financial plan for this family’s particular circumstances, taking into account the complexity and special needs of Betty’s family. 

While their financial situation fluctuated when they sold their house and moved to Florida, their new advisor helped them make sound decisions. 

Whenever they called, he answered or returned calls quickly.

RESULTS

Their new financial planner helped this family navigate the complexity of their situation. 

Betty and Tom now have the confidence they were looking for when they found their new financial advisor. Their finances are managed professionally, their retirement is stable, and they know that whatever happens, their family will be cared for.