One of the best parts of being a financial advisor is getting to help reduce clients’ stress and anxiety through simplifying their financial lives.

Stress can be caused by a number of factors, such as complex life transitions or concerns about one’s ability to retire. However, recently a number of individuals that were managing their own plans have been asking questions – they didn’t have the time and resources to self-manage properly.

The stress of having too much on their plate started to eat at them and their relationships.

Spread Too Thin

This was the case with a new client we started working with; a couple in their mid 50’s. They had been very successful earning a great living, and saving well, but they had some complexities and were unsure how these vehicles fit into their overall plan. Right from the start, you could sense the stress and tension between them.

As we dove into the details, we uncovered that the husband had been trying to manage their finances on his own. At one point, they had an advisor but the relationship had soured.   

In total, they had 15 different accounts at four different financial institutions between the two of them. Some were being managed professionally, some were managed by the clients.

There was no clear investment strategy and over time, the client had significant assets in one asset category. There were a number of inefficiencies and redundancies within the accounts.

Quality of Life

We stepped in to help manage the overall portfolio. First, we consolidated redundant accounts. Then we reduced the number of accounts and financial institutions, reducing their cost.

We implemented an investment policy over the entire portfolio, allowing us to properly diversify the portfolio, reducing their overall level of risk.

Additionally, through asset location, we improved the tax efficiency. We were able to help them with the quantitative piece of the plan, but the biggest difference was alleviating all the pent-up stress the client had, improving their quality of life.

For informational purposes only. Not intended as investment advice or a recommendation of any particular security or strategy. Past performance is not indicative of future results. Information prepared from third-party sources is believed to be reliable though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of writing and are subject to change without notice.For more information about Wealth Dimensions, including our Form ADV Part 2A Brochure, please visit or contact us at 513-554-6000. Please be advised that this material is not intended as legal or tax advice. Accordingly, any tax information provided in this material is not intended and cannot be used by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer.