When people think about financial advisors, they usually think about investments.
But some of the biggest opportunities to improve a family's financial life have nothing to do with the stock market.
This is the story of a homeowners insurance policy that had gone unchallenged for decades.
Gary and Katherine had worked with a well-known financial firm for years. They liked their advisor, trusted him, and felt he was doing a good job.
I was introduced to them through their daughter, Samantha. I explained that my role goes beyond investments. I look at every area of a client's financial life to see where opportunities or risks might exist. That led Gary and Katherine to schedule an initial meeting. As they gathered documents, I began reviewing everything, not just investment statements. One item immediately caught my attention.
Their homeowners insurance premium seemed unusually high. I didn't know why, so I asked a few questions. Had they filed claims? Was there something unique about the property? Had there been issues in the neighborhood?
Nothing stood out.
Before we finished the meeting, I suggested they get a second opinion.
What they discovered surprised all of us. They had been with the same insurance company since 1974. In more than four decades, they had never compared coverage, explored alternatives, or reviewed whether the policy was still competitive. After shopping their coverage, they significantly reduced their annual premium (annual savings of over 3x our financial planning fee) while improving parts of their overall protection strategy.
But that wasn't the point. A financial plan isn't just about investments. It's about making sure every part of your financial life is working together efficiently.
Sometimes the most valuable advice has nothing to do with the stock market.
*This example is provided for illustrative purposes only and is based on a specific client situation. Results will vary depending on individual circumstances. Similar outcomes cannot be guaranteed. The client's experience may not be representative of the experience of other clients.