Referring the Next Generation
One of the great pleasures that we longstanding advisers at Goldsborough Financial Services have comes when our clients refer their children to see us for advice. Such referrals occur for a variety of reasons, the most common simply being when our clients lament that they “should have sought out financial advice much earlier in life!”
(Actually, if I had a dollar for every time I hear that the stack would be way taller than the Ficus in my office!)
Generally though, parents who refer want to ensure that their children develop sound financial habits, make informed decisions, and secure long-term financial well-being. Adult children, particularly those just starting careers, often lack the experience or knowledge necessary to navigate complex financial matters such as budgeting, investments, taxes, and retirement planning. A Goldsborough adviser can provide personalized, expert guidance that can prevent costly mistakes and help them build a strong foundation for the future.
Professional advice is especially important in an era where financial literacy is not always emphasized in education. Many young adults (and I include my own now-working children in this) struggle with understanding and managing debt, building credit, or saving for major life events such as buying a home, marriage, or having children. By consulting a financial adviser, they can learn effective strategies for debt reduction, saving, and investing, which are critical for achieving long-term goals.
Additionally, financial advisers can offer an unbiased, objective perspective that a family members may not be able to provide. Parents may have strong opinions on money management, but professional adviser’s offer expertise without emotional involvement, ensuring decisions are based on facts and the individual’s unique circumstances.
Referring adult children to financial professionals can also encourage independence. It teaches them how to manage their finances responsibly, empowering them to take control of their financial future. Rather than relying solely on parental support, they gain the tools to build wealth, mitigate risks, and plan for unexpected events. Overall, professional financial advice ensures that adult children have the resources and knowledge to thrive financially, both now and in the future.
So, a big thank you to those who have referred their adult children to Goldsborough Financial Services for professional financial advice in the past, and in anticipation for the referrals to come.
Brenton Miegel CFP®
Authorised Representative (No 227297)
