Why Hire A Financial Advisor?

Written By Caitlin Lyttle

Get ready for an exciting episode of Financially Naked: Stories from the Financial Gym. Today, Kadri sits with the one and only Shannon McLay, the founder and CEO of The Financial Gym. We’re talking about the exciting news: FG Advisory Services LLC is set to launch in 2024! This is the next giant leap for The Gym, and we’ve got all the details straight from the source.

In this chat, Shannon discusses why The Financial Gym is taking the leap into investment services. It’s a groundbreaking move that will allow The Gym to invest clients’ money for the first time, unlocking new possibilities for their financial health. Wondering what to expect? Shannon breaks down everything – from the reasons behind this decision to what clients can anticipate and, most importantly, how you can be a part of it. 

Spoiler alert: It’s super easy to switch advisors, and Shannon’s got the insider scoop on why you should consider joining the FG Advisory Services LLC revolution

Podcast Notes

  • The goal of The Financial Gym has always been to see clients prosper, and that’s precisely what FG Advisory Services will do. There is so much that happens in the financial advisory industry that is perfectly legal but incredibly cringe-worthy, the most common being the $250k asset minimum.  

  • The most challenging part of investing is having the money to invest. The Financial Gym has spent years helping people become wealth holders, and helping them invest is the next step.  

  • A Financial Advisor / Planner is a catch-all term, and they come in different forms. Generally, a financial advisor is someone who invests and manages money directly on behalf of their clients. 

  • A financial planner takes a holistic view of their client’s finances and composes a whole plan.

Why now? 

  • The Gym has been providing financial planning to the masses, and it’s time to address the other areas of the financial services industry.  

  • We have been teaching people how to invest themselves, but some folks prefer someone else to take care of it. They like to know someone is watching their accounts for them. 

  • Many financial advisors go into the profession with the right intention, but the system is not designed to create a good environment for clients. 

  • People have been asking The Gym where to find a great financial advisor for years, and Shannon has not felt comfortable with any company. Robo Advisors are okay, but they are flawed and not a great fit for everyone.  

  • Just about every financial services company hires people who have access to other wealthy people and have a sales-type personality. These are not the values at The Financial Gym. 

  • The process is flawed from the beginning to how it rewards and incentivizes advisors.

What is going to be different about FG Advisory Services? 

  • The Financial Gym will continue our regular training services, and FGAS is a new, separate service. 

  • There will be Financial Trainers and Trainer Advisors. The team at The Gym will be able to help with all aspects of your finances. You can work with a Trainer for overall financial health and a Trainer Advisor for investing specifically.  

  • If working with a Trainer Advisor, you’ll meet with them quarterly to discuss your portfolio and ensure you understand exactly what’s happening and the plan for moving forward. The Trainer Advisors are going to be looking after the money as fiduciaries.  

  • The Trainer Advisors will be invested in the exact same fund and paying the 1% fee themselves, so they will be aligned with the client’s assets. 

If you want to work with a Certified Financial Trainer to help navigate your finances, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.

Resources

Meet The Trainers

Meet Shannon McLay, Founder & CEO
Meet Kadri Augustin, Level 3 Certified Financial Trainer

Caitlin Lyttle
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FG Advisory Services with Joy, Kadri & Vinnie
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Investing with The Financial Gym