You should see my Dad’s backyard. It’s an oasis of greenery. Every which way you look you’ll find lush trees, shrubs, flowers and gardens of delicious fruits and vegetables. To the left, there is a pond with several dozen Koi, Comet and Sarasa fish which seem to get bigger every time I visit…but it’s the peach tree right next to the pond that made me think twice…

Last summer, my Dad made a comment about his disappointment in the tree. He had been patient with it, giving it lots of TLC and still no quality peaches since he planted it 8 years ago. Then this summer, things turned around and he’s into some serious peaches. The tree was filled with ripe peaches, several dozen more had fallen to the ground and it was evident that his backyard had become the hot spot for all of the local wildlife. My mom was onto her 12th peach desert concoction and before I knew it, I was sent home with the bag full of peaches.

The peaches made me think of a Forbes article I read last week on the flaws in financial planning. According to a recent study, 80% of financial planning recommendations aren’t implemented – an upsetting stat for someone like me to accept, considering my chosen profession as a finance professional. If I am going to train for a race, I plan to run all the way to the finish line and not deke out at the 5k mark. Similarily, if I am going to prepare a financial plan, I expect to execute on the strategies recommended.

Looking at it from a realistic and rationale perspective, I can see precisely what the problem is – in an effort to “wow” our clients and prospects, too many advisors are viewing the quality of their plans based on the weight of the document, rather than what happens as a result. You’ve heard the expression, “less is more” and I don’t think 20th century architect Ludwig Mies Van Der Rohe could have put it any better. These huge financial planning documents have become too daunting for both the client and the advisor to keep pace with.

As clients, you aren’t coming to financial advisor like myself to be overwhelmed by pie charts, graphs, stats, projections, comparisons and standard deviations – my job is to take the deep and often perplexing discipline of finance and streamline it into realistic and strategic goals reflecting the unique circumstances of your personal life, while educating you along the way.

With the right advisor by your side and a proper plan in place, patience and realistic goals over the long term will produce plenty of peaches for you to enjoy and share with family and friends.

Enjoy the weekend.

D.

Dian Chaaban

Investment & Wealth Advisor

Chaaban Wealth Management Group

416.842.4234