By: Maria Williams
When it comes to financial planning, people today are looking for a whole lot more than just someone to tell them what to do with their money. Yes, they want results. However, they also want to work with someone who truly listens and prioritizes their needs.
Unfortunately, that is not always the case and plenty of individuals find themselves working with advisors who are more busy pushing products and trying to meet sales goals than genuinely understanding their client’s needs. This can lead to frustration, mistrust, and, ultimately, poor financial results.
Instead, a successful financial planning relationship should be built on a foundation of trust and understanding, especially when it comes to retirement—A time when people should feel relaxed and secure in their financial futures.
Phoenix-based financial firm, Watermark Wealth Strategies, is one such company recognized for its ability to lead with care and go above and beyond for its clients. Recently named to LPL Financial’s Summit/Masters Club for 2024, an award presented to less than 2.9% of the firm’s financial advisors, Watermark Wealth is making a significant mark in the industry in more ways than one.
“Our whole team is extremely proud and happy that LPL thought highly enough of our practice where they’ve offered an award to us,” says Founder Kyle Richardson, Certified Financial Planner, and Fiduciary. With over 25 years of experience in the industry, he prides himself on the long-term relationships that he’s built with his clients, many of whom have been working alongside him for several years.
“If we take care of them, they take care of us,” he beams, adding that “ninety-nine point nine” percent of Watermark’s clients are referral-based. “We don’t work with clients, we work with families, and Watermark is a big family. People know we care,” he adds.
With a particular focus on the aerospace industry, Watermark Wealth operates on what Richardson refers to as an “abundance mentality,” where their team is “not worried about what other firms are doing,” and is laser-focused on their clients. “We make sure that every time we have communication with them, they feel like the only client we have.” One such relationship is that of their 20-year partnership with Southwest Airlines, with Watermark’s expertise lying in helping to manage their employees’ 401(k) accounts and profit sharing while they’re employed.
When it comes to building long-lasting relationships with clients such as those in the Aerospace field – and indeed, those in the Microchip/Tech, Educational, and Healthcare industries, Richardson says the secret lies in a family-oriented approach and a commitment to developing strong personal connections. “I give clients my personal cell phone number, and everyone in the universe thinks I’m ridiculous,” he laughs. “But the client feels connected because they know if it’s an emergency or if they need to reach me for any reason, they don’t have to go through the chain of command.”
Richardson shares that his clients will often refer their children, friends, and other family members to Watermark, which is a testament to the trust and satisfaction they’ve experienced working with his firm.
“I can do what I say, I can say what I do, but at the end of the day, time has to build that trust,” he continues. One unique way that Watermark Wealth builds trust is through hosting monthly Happy Hour events where they encourage their clients to bring along friends, family, and colleagues who might be in need of investing, retirement, and estate planning services.
“We have food trucks, happy hours, topgolf and all kinds of stuff because it shrinks that duration to build trust. Plus, after a glass of wine, I learn a lot more about the client than I do in my conference room,” he jokes.
Aside from a family-oriented approach and trust-building initiatives, what truly sets Watermark Wealth apart is their four-phase process. “With every client, we run a full retirement analysis,” explains Richardson, who specializes in developing customized retirement and legacy continuance plans.
“We engage with them on what they’re trying to accomplish because if we don’t understand that, we’re not going to be able to develop a plan that fits their goals and objectives. Once we understand and internalize the client’s financial situation, we start developing a relationship and go over that with them.”
“We highlight all sorts of variables that could potentially change their retirement plan,” he shares, adding that Watermark is “so conservative in [their] projections that [they’ve] never had a client that had to go back to work.”
Richardson credits his team for the firm’s outstanding results, sharing that they “fill in the gaps and holes” allowing him the time, space, and energy to do what he does best. “This team that I built feels like a family, and that was the goal.”
In addition to being recognized as a top financial firm by LPL Wealth, Richardson himself has been named to LPL Financial’s Ascent Club for 2024, an award presented to LPL’s top financial advisors nationwide.
He has received numerous other service awards recognizing his dedication to the needs of his clients and practice, while also being featured on CNBC’s Squawk on the Street, broadcasts on Bloomberg radio, and in Forbes magazine.
To learn more about him or how Watermark Wealth Strategies can assist you with your financial planning needs, be sure to visit their website today and explore if they’d be a good fit. “If we’re the fit for you, we want to be the last financial planning firm you ever use,” he concludes.
Published by: Martin De Juan
