I’ve been fortunate to have a career that I’ve been thoroughly enjoying for more than forty years. Very seldom has it even felt like a job. Because it’s a nice feeling to know I’m having a positive impact on someone’s life almost every day.
Just because I enjoy it, however, doesn’t mean it’s stress free. Over the course of my career, I’ve guided clients through plenty of uncertainty, tension and stress, dealing with both pocketbook issues and global events.
I’ll never forget when the stock market nose-dived 20 percent in just one day in October 1987. Many investors thought their entire nest egg would be lost. Then in 2009, there was a lot of fear that banks were going to entirely collapse. Internationally, we’ve had ongoing conflicts throughout the globe.
Looking back, we’ve been able to survive all the roller coaster rides that our economy has put us through. If everyone had waited to invest when everything was stable in the economy and the world, nobody would have ever invested.
To be an investor you need to have an iron stomach and remain committed to your convictions. My most financially successful clients are the ones that have been able to look past all the daily noise and chatter they see and hear on the evening news.
There have been numerous changes since I began my career. The technology that I currently use conducting my day-to-day business didn’t even exist when I started. Financial calculators that used to cost more than $400 can now be picked up at the grocery store for less than $5.
It isn’t just technology; financial regulations have significantly changed as well. New account forms that used to be one page are now practically personal biographies. But In spite of additional regulations and paperwork requirements, I’m sorry to say that financial fraud is still rampant. Unfortunately, regulations just don’t seem to stop bad people from doing dishonest things to separate people from their money.
I feel as though I’ve been able to comfortably handle the changes in technology and the additional regulations. And I’ve conscientiously guided people through tumultuous times. When clients lose loved ones, my staff and I feel their pain and we help them in any way we can, including filling out waves of paperwork.
What surprises me most since I entered the financial services industry is how frequently my clients and their families have had to struggle with memory loss issues. Dementia and Alzheimer’s turn life-long partnerships into one spouse suddenly becoming a caretaker. In these situations, the family often turns to me and me alone to provide guidance in regards to their financial well being.
It's cruel when people appear healthy but just don’t recognize their friends and loved ones. I receive such notifications more often than you’d think. They are difficult situations that require being sympathetic and supportive for the entire family.
When I began my career I knew the financial field was volatile. I knew it was a people business and that technology would change how we conducted that business. But no way did I ever anticipate that any of my clients might outlive their mental capabilities.
Do you know someone who would like to meet with a financial advisor?
Ken Morris 248.952.1744
E-mail your questions to email@example.com
Ken is a registered representative of LPL Financial. Securities and financial planning offered through LPL, a Registered Investment Advisor, member FINRA/SIPC. Ken is Vice-President of the Society for Lifetime Planning in Troy. All opinions expressed are those of Ken Morris. LPL and Society for Lifetime Planning are independent companies. Investing involves risk including loss of principal. No strategy assures success or protects against loss.