On a recent episode of Business Innovators Radio with Mark Imperial, Michael Watkins, Founder of Tampa Bay Advisory, discussed A Holistic, Fiduciary Approach to Retirement.
According to Watkins, a Fiduciary is held to the highest standards of delivering unbiased, accurate information, and advice.
Watkins, said “A fiduciary is an adviser that holds specific licensing and registration… and who is held to the highest standards of delivering unbiased accurate information and advice…which means all of that information and advice that must be in the client’s best interest before that of the Adviser’s and his or her firm. I specialize in Retirement Income Planning and as Holistic Adviser and Fiduciary I guide my clients through a very unique and educational journey of their finances so they can gain some clarity, confidence and peace of mind”.
When host Mark Imperial asked what type of clients he helps, Watkins answered, “Typically the majority of my clients are 50 years and older, and most of them have $250k or more in investable assets. By the way, many are very concerned about outliving their money in retirement which brings me to this point… Our primary goal is to help folks fulfill their retirement dreams by living a life of financial security and peace of mind. We work together to co-design a structured income plan and this indepth look into their retirement future is something that they will be hard pressed to find anywhere else. Teaching and educating my clients on all the Pros and Cons of different products and services is really important to me, and most folks really seem to appreciate the attention to detail I offer”.
During the Interview Watkins shared what retirees should be aware of, explaining, “…another big problem I see out there today is ‘Too Much Information’. Let’s face it folks, we live in a world where we are bombarded hundreds of times a day with advertisements from billboards, radio, TV, Internet, direct mail, you name it…. This really makes it hard for people to make an informed decision when facing 100’s of choices. Here is a good example… Have you ever tried typing the word ‘Investments’ into a Google search? You get over 350 million results in a 1/2 of a second. No wonder people get confused! …from there you have all the underlying agendas behind that information. I see many highly credible spokespeople out there pitching products and services but until you build a plan that determines your exact income and other retirement needs, how in the world can anyone determine what to use? That’s just called winging it, and in my world, we are a lot more serious about your financial future than just selling a few products and calling it a day. So I think the question folks have to ask themselves is ‘do I want to buy a few products and hope for the best?’ or do they want to know all of their income and retirement needs are being met so they can sleep soundly at night?”
Michael Watkins is an Investment Adviser Representative and Retirement Income Planner, and Founder of Tampa Bay Advisory in Oldsmar, Florida.
The interview concluded with Watkins saying “Well Mark, they can set a 45 minute ‘get to know you’ meeting with me so we can have a candid and open conversation, and talk about how they got to where they are today financially, and what they have enjoyed or maybe not enjoyed along the way. That sets the table for everything else. Even though I work with the majority of people that come in to visit me, sometimes, depending on their needs we may agree that I am not the right person to help them. If we do, we will part as friends and my door will remain open in the future. Just remember when you walk through my door I have no preconceived notion that you will be doing business with me. Everyone is different and not every client is a good fit so I hope that candidness will help people understand it won’t be a scary high pressure experience when they come in to visit with me, just an open honest dialogue to determine what your next step should be. They can call me at 813-854-4400 or go to my web site www.TampaBayAdvisory.com and book an appointment there”.
To listen to the full interview on Business Innovators Radio, visit https://businessinnovatorsradio.com/michael-watkins-investment-advisor-representative-retirement-income-planner/
To learn more about Michael Watkins, please visit http://www.tampabayadvisory.com/.