Jerry Fetta – Traditional Financial Advising Fails

I started in the financial industry as a traditional financial advisor 7 years ago. What Do I mean by that? I was the guy who would sit down with you, talk to you about the importance of having financial discipline, diversifying your portfolio, paying off your debt, having an emergency fund, and paying yourself first. Sound familiar? In exchange, my clients would tell me about their financial concerns, how hard it is to budget, and how worried they are about their debt. This probably also sounds very familiar. The disconnect? I would sell them a mutual fund, IRA, or annuity that fixed none of their problems. And they were happy with it. You may ask why that is a problem if I just said they were happy. Well it breaks down to two major reasons and I believe these to be the reasons why traditional financial advising is broken.

1. Sharing a problem with someone who isn’t going to fix it is gossip. That’s right! I was being paid to enable my clients to gossip. The investments I sold them were not going to fix the primary problem, which is the fact that my clients did not earn enough income. There was not a single investment I could sell them that would increase their gross household income TODAY. Their budgeting problem? Not enough income. Their worries about debt? Not enough income. Not enough money in the bank? Not enough income. If they had more income all of these issues would be solved and I had no way of helping them do that. Have a gossip session should not be considered financial advising.

2. Sharing a problem without thinking of a possible solution first is simply whining. So not only was I enabling my clients to gossip but I was also allowing them to pay me to come to my office and whine. How so? They’d come to me for the answers because I had a piece of paper that said I was an advisor. The result of that is my clients would not have any level of responsibility for coming up with an idea. They wanted to hand me their problem, have me fix it, and in 20 years they could just retire without having to do anything but hand their money over to me. That is not only whining, but it is irresponsible of me and them to act in that capacity. The financial industry has taught us that we can just tell someone else about our money problems and pay them to fix it. That’s not how it works at all.

Because of this, I chose to change my business. I do not allow whining and gossiping about money with my clients. Because all of their financial problems stemmed from a lack of income, I added in a program to help my clients increase their income TODAY. This program is called WealthX University. The average client on WealthX University sees a 30% increase in income in the 1st 90 days on the program. The effect of this is my clients can save more, and they can invest more & sooner. If you’d like to train on WealthX U and see similar results in your own finances click here.

Own Your Potential,

Jerry Fetta

Jerry Fetta is a husband, son of Yahweh, Entrepreneur and owner of 5 privately held businesses. Jerry lives in Alaska with his wife and 2 dogs. His no-nonsense approach to business, finances, and life speaks truth and provides clarity to his clients and followers. His personal mission in life is to empower millions of leaders to own their God-given, ultimate potential.

WealthX Home

WealthX TV

https://www.facebook.com/WealthXPro/  

https://www.linkedin.com/in/jerry-fetta-601b00a0/  

https://www.instagram.com/jerryfetta/  

https://plus.google.com/u/0/105293536858963061578  

https://medium.com/@wealthx  

https://steemit.com/@jerryfetta  

https://www.youtube.com/channel/UCsGCnD2cXDbNj53GH4y50zg

About The Author