The following is a transcript of our segment featured on a local television station. Host Chelsea Haynes interviewed us for her entertainment and lifestyle program.
>> HOST: This next segment has been sponsored by the West End Advisory Group, where they can help you hit that target of being financially fit.
>> JOE RODDY: We design customized plans for individuals, families, and businesses that are specifically tailored to meet their personal financial needs.
>> HOST: What does that mean to you?
>> STEVE MAYER: Basically, what we do is we help to organize their financial life. So we help them first figure out where they are today, and get an inventory of everything that they are working with, help them create their goals, establish a timeline, and then, with that, we help them to determine how to invest their money.
>> HOST: Taking the mystery out of your finances to help you prepare for a bright future in retirement.
>> JOE: Our typical client, many of them live in our neighborhood here. We’re in the Central West End, and a lot of them work or live in the area. We have several major institutions—BJC, Wash U., Saint Louis University. A typical client is somebody who really has recognized that they have either become too busy or their financial lives are too complicated for them to do it themselves. They’re really looking for help, and that usually happens during a transition in life. A lot of times, it’s a promotion, retirement, it might be selling a business, or inheriting some money or a death in the family.
>> HOST: All of which can be overwhelming mentally, physically, and emotionally, but—most importantly—financially. Hence the importance of this firm’s incredible five-step process that helps you get from Point A to Point B.
>> STEVE: Our five-step process starts with us communicating goals with the clients—their goals and how we can help them find that. We help them to get a really detailed inventory of all their financial assets next. And from there, we help them to strategize and create a real plan that they can follow through on, and get them to that next stage in their life, the next stage in their plan.
>> JOE: After we understand what those are, we collect the information and organize it, and make sure we understand the resources that are available to meet those needs. And then we begin developing strategies—and what happens if interest rates change, if inflation rates come up or go down? What happens to taxes? And then we develop alternative strategies, and lay out the alternatives. After we settle on a strategy, our fourth step is that we implement it. And then finally, on an annual basis, we have a whole process where we update and review that. We usually begin with the tax return. From that tax return, we learn a lot about our clients. We update the financial plans, update the projections, and then make course corrections as necessary.
>> LAURIE ELFRANK: After they’ve talked to Joe and Steve, and decided what their plan of action is going to be, then there’s just a lot of forms that are required. Depending on what type of account they want to open, whether it’s in the name of a trust, we’re very careful about getting their beneficiaries correct if it’s an account that requires that. So basically, they’re coming in maybe on a third meeting to actually sign paperwork after they’ve decided what they want to do. And then we take the paperwork from there, and usually they don’t need to come in again unless there’s some kind of additional requirements that are needed.
>> HOST: Taking care of you for the long haul when it comes to your money.
>> JOE: Well, you know, it’s really what I think sets us apart is the ability to customize a plan, and our “plan first” approach. Knowing when and how much money somebody needs is going to be the key determinant in how we invest their money.
>> HOST: Allowing your needs to determine your allocation.
>> STEVE: That’s a big value-add, that’s really important to us. So if we’re not able to help people, to not just outsource everything that they need from a financial standpoint, but to just have trust in us that it’s being taken care of, then they are going to have peace of mind so that they can focus on doing the things that they really love to do in life.
>> HOST: Peace--that is evident in how these financial gurus understand and treat their clients.
>> LAURIE: We use a very personalized approach to our plans. It’s not “cookie cutter,” it’s not “one size fits all.” We take time to try to get to know the clients and know what their goals are, what their history is, and what they want to do when they retire, and we try to customize a plan just for them. And no two clients are exactly the same, so we’re always dealing with new situations and trying to custom-fit a solution for them.
>> HOST: Ready to start your retirement journey? Look no further than the West End Advisory Group. In Central West End, I’m Chelsea Haynes for Studio STL.
>> HOST: The West End Advisory Group—and if you’re going through some major life changes, and need a little bit of help in your finances, reach out to the West End Advisory Group. They have some amazing people on their team and on their staff to help you get exactly where you need to be, to be financially fit. You can visit them at WestEndAdvisoryGroup.com, or you can follow them on Facebook, X, or pick up the phone and give them a call at 314-880-7552.