From Bank Advisor to Advice-Only Planner: Why I Do This Work Differently

My last day as a senior financial advisor at a big bank branch was a turning point. I'm glad it happened.

I started there in 2012, matching clients with mutual funds and other bank products. The branch had sales targets, and my compensation was tied to them. I wasn't dishonest with anyone, but I was working inside a structure that made it hard to give advice unrelated to what I could sell. 

When a client asked whether to pay down debt or invest, the honest answer took time, curiosity, and sometimes an answer that hurt my numbers. The structure rewarded neither.

A Different World: Wealth Management

I left the bank for a boutique wealth management firm, and it was a different world. I worked alongside seasoned and insightful financial consultants who understood tax complexity, estate planning, and intergenerational wealth;  the full picture. It raised my standards for what comprehensive planning should look like.

But I also saw who had access to it. If your investable assets were under a million dollars, you weren't the client. And even if your investable assets qualified, the model required handing over your investments for discretionary management. Some clients were glad to do that. Others wanted more say in their own decisions and found the arrangement unsatisfying. The advice was excellent; the access was not for everybody.

A Different Client: Self-Directed Investors

My third stop was a technology-forward firm built around low-cost, self-directed investing. The clients here were sophisticated;  they'd read the books, understood index investing, and had largely solved the cost problem on their own. I respected that.

But a gap kept showing up. These investors were laser-focused on portfolios and hadn't given as much thought to taxes, account structure, what happens when income changes, when a business is involved, or when the unexpected occurs. Investment strategy had become the whole game. Financial planning was the part nobody had told them about yet.

The Common Thread

Across all three roles, I kept meeting the same person in different forms: someone engaged, trying to do right by their money, not badly served on purpose;  but falling through the gap between the model they had access to and the advice they actually needed.

That gap is why I became an advice-only, fee-only financial planner. I sell no investment products and no insurance. I earn no commissions and take no referral fees. My recommendations exist to serve your goals — not a product shelf or an AUM minimum.

A Passion Project: Faith and Money

Outside my core practice, I run a passion project helping Christian families think through their finances in light of their faith. Money isn't a neutral topic;  how we save, spend, and give reflects what we value. For clients who want their financial decisions to line up with their beliefs, this is work I do gladly, alongside (not instead of)  the same rigorous, product-free planning I bring to every client.

What my clients say about me

Clients describe me as a great listener, savvy investor, knowledgeable and someone who brings a positive experience to my client’s financial journey. 

Working With Me

Today, as a CFP® and CIM® professional practicing advice-only, fee-only financial planning at Merrick Financial, my job is simply to help you make sound decisions;  whether you're self-directed, working with a robo-advisor, or running a business.

When you work with me, I simplify complex decisions to give you the confidence of making sound decisions.

If you're looking for a planner free of sales targets and product incentives, I'd welcome the conversation.