[0:00] Kimberly Jaques: You know, somebody trusts you with their money, they kind of trust you with their lives. The majority of my conversations are them exposing some of the things they won't even talk to their own family about. They see that there's comfort in that, that somebody's listening and somebody cares. You know, it's not a transaction at all. It's basically this is a human that needs my help, and I think that's what's kept me in this industry, 'cause time and time again, I have ha- helped a widow after widow- Mm... who's struggling, and they don't know who to trust. Everybody just wants- Yeah... somebody to know their story, and we let them tell their story and see. Right. Right? And so I just feel like I just need to take care of these people- Wow... in a lot of the, you know, situations.
[0:43] Shannon Warwick: Okay.
[0:43] Ryan Warwick: Welcome to the Worth Beyond Wealth podcast.
[0:45] Shannon Warwick: Where net worth meets personal worth. I'm Shannon.
[0:48] Ryan Warwick: I'm Ryan. We help families navigate the emotional, relational, and personal realities that money alone can't solve.
[0:55] Shannon Warwick: If you've built wealth but still wonder what it all means, or how to keep your family grounded while protecting your legacy, you're in the right place.
[1:02] Ryan Warwick: We sit down with experts and with you to talk identity, purpose, and connection beyond the balance sheet.
[1:10] Shannon Warwick: Because true wealth isn't measured in dollars. It's measured in the impact we make and the relationships we nurture.
[1:16] Ryan Warwick: So grab a seat. Take a breath. And let's redefine what it means-
[1:20] Shannon Warwick: To be truly wealthy together.
[1:22] Ryan Warwick: This is the Worth- Worth Beyond Wealth... Beyond Wealth podcast.
[1:27] Shannon Warwick: Well, we are here with Kimberly Jakes. We just chatted with Raleigh Baczek- Oh, yeah... and so you guys, it was a great conversation. We had lots of... I think she's on the Almost Fun. Almost Fun. Yeah. We had Almost Fun. Almost Fun. We had fun. But, um, Kim is here with us today. She is a CFP, a principal, and a wealth advisor here at RW, with three decades of experience.
[1:48] Kimberly Jaques: Yeah, that dates me.
[1:50] Shannon Warwick: I love it. You are someone who has built and led operations. Um, you've done compliance before moving into advising. So you just really have had a wealth of knowledge that you've brought to the place that you're at today.
[2:04] Kimberly Jaques: It's all I know.
[2:05] Shannon Warwick: It's all you know.
[2:05] Kimberly Jaques: It's just this industry.
[2:07] Shannon Warwick: This is it. Completely, yeah. From the time you were a baby.
[2:08] Kimberly Jaques: I just never wanted to leave.
[2:10] Shannon Warwick: Okay. Okay, so from the time you were out of school?
[2:14] Kimberly Jaques: No, I was in college.
[2:15] Shannon Warwick: You were in college.
[2:17] Kimberly Jaques: I was taking college courses, and I got my Series 7 while I was going to college, and I worked full time. Wow. Yeah.
[2:25] Shannon Warwick: I love that. Okay, so give me- Talk about tenacity. Talk about tenacity. Just do it. Yeah. Yeah, and being able to speak into young ladies' lives. Mm. I think that's another big piece here. Mm. And, and speaking of that, we, we know that more wealth is moving t- to women. You were, we were chatting about that- Mm-hmm... a little bit before the podcast, gearing up for this transfer of wealth that will be coming primarily to women, when you look at the, at the data. So the aim here at RW is to help keep it simple, help women feel prepared. That was the word that we, that we used with, um... well, that Raleigh said, prepared. Yeah. It really resonated with Raleigh. Um, and we agree, right? Hel- helping them to feel ready and calm. Yeah. So I think we wanna talk about that today, because in your bio, you said, "I knew I wanted to help people." How can we just kind of, I think, go into that? How can you help women who are new to finance, who are diving into this for the first time? What's been your experience?
[3:25] Kimberly Jaques: I think really educating. Oh. I think people that... You know, and just taking all this jargon down to the basic level so people can understand it. So, you know, always when I'm dealing with maybe a new widow or- Mm... I tell them, "I, I think we need to cover the basics so you kinda understand why you're investing your assets, 'cause there's some critical things you need to stay ahead of, like inflation," right?
[3:50] Shannon Warwick: Mm-hmm.
[3:50] Kimberly Jaques: And so I really think being able to care for where they are-
[3:56] Shannon Warwick: Mm
[3:56] Kimberly Jaques: ... and understand that there is this learning curve they're gonna have, and making sure that we step back to get them the foundation of what they need.
[4:06] Shannon Warwick: That is really powerful.
[4:07] Kimberly Jaques: And just taking the time, right? And so, you know, it's not a transaction at all. It's basically this is a human that needs my help, and I think that's what's kept me in this industry, 'cause time and time again, I have ha- helped a widow after widow- Mm... who's struggling, and they don't know who to trust. And it's sad.
[4:26] Shannon Warwick: That is incredibly powerful. What really hits me is how it just resonates throughout RW. You said, "This is a human, and they need my help. This isn't a transaction." Right. Um, Raleigh started to kind of tear up just talking about the humanity of working with, with these, these people. These are, these are not just clients. These are people. Yes. They're not numbers. They're not a file that goes into a cabinet. They're humans.
[4:53] Kimberly Jaques: And you have to earn their trust. Yeah. It's not given, right? And so what do you do to earn their trust- Mm... is just be another human back to them. Mm. And just, you know, show them that it's isn't the transactions. It's about getting to know what's important in their lives. And I always say, you know, somebody trusts you with their money, they kind of trust you with their lives. Yeah. And the majority of my conversations are them exposing some of the things they won't even talk to their own family about, because they see that there's comfort in that, that somebody's listening and somebody cares. Mm. And-
[5:27] Shannon Warwick: What I hear you saying is that you are passionate about creating a safe space.
[5:32] Kimberly Jaques: Oh, definitely. Definitely.
[5:34] Shannon Warwick: You're all about it. Mm-hmm. That's the biggest thing at the end of the day.
[5:37] Kimberly Jaques: Well, and I think that's our stewardship, right, and our-... servant mentality.
[5:40] Shannon Warwick: You jumped right into stewardship. Yeah. She just took it there. Well, it is. I love it.
[5:45] Ryan Warwick: Yeah, he's... I mean, you started with what we call real wisdom. Yeah. I mean, we educate, educate, educate, because they're scared if they don't know. We're, we, we fear there's things-
[5:54] Shannon Warwick: Yes
[5:54] Ryan Warwick: ... that we, we don't understand. And, and I'll just Confirm. I mean, there's nobody at this firm or anywhere that cares more about their clients. I mean,
[6:03] Shannon Warwick: Yeah
[6:03] Ryan Warwick: ... and you, you- You fight for them. I mean-
[6:06] Shannon Warwick: We're gonna all cry... yeah, yeah. Every edition.
[6:09] Ryan Warwick: It's just, it's just, um, I mean, it, it just embodies who you are. It's, it's powerful.
[6:14] Shannon Warwick: It's just time and time again, um, and I tell my husband all the time when we talk about retirement, and I'm like, "I just don't know how I could step away from clients." Like, that fills me up. Mm-hmm. And, you know, just being part of their lives and- Right. And because, and I think you said it, it's their money. If they trust me with their money, they trust me with their life.
[6:34] Kimberly Jaques: People don't expose their finances to very many people. And so when you have, you know, three decades of relationships- You've walked, yeah... I'm not talking performance in those calls ever.
[6:45] Shannon Warwick: No.
[6:46] Kimberly Jaques: It's I'm talking about their family. How are you? How, yeah.
[6:49] Shannon Warwick: How are your kids? Yeah. Are you okay? What can I do?
[6:52] Kimberly Jaques: Correct.
[6:53] Shannon Warwick: Yeah.
[6:54] Ryan Warwick: Yeah. What, what is it all about? What's, what is the worth beyond the wealth? Right. Right.
[7:00] Kimberly Jaques: Right.
[7:01] Shannon Warwick: So I think that's, that's a great transition. Talking about worth beyond wealth, in your words, what is worth beyond wealth, and how do you see it show up in real life?
[7:09] Kimberly Jaques: When you're dealing with your clients.
[7:10] Shannon Warwick: You're human.
[7:11] Kimberly Jaques: Yeah. You know, I just had a meeting the other day, and I could tell they're just a little apprehensive of all the noise, and, "Well, what do you think? I think the market's frothy." Mm. You know, we kinda started the conversation, and then I just educated. I was, I said, "Oh, let's go back to the basics," and we started saying why we're investing, what we're doing. And pretty soon, you know, I could see the worth because they said, "Well, that's why we have you." Oh. "That's why we trust you." I mean, those words came out of the client's mouth because I was able to step back and, you know, kinda rebuild that foundation of what we're doing. Take a dive. Yeah.
[7:46] Shannon Warwick: Back to first steps.
[7:47] Kimberly Jaques: Yes. And this is, you know, we, we're prepared for that. Mm. We're prepared if the market goes down. You don't have to worry. I do the worrying, which I don't worry much because I understand what's happening.
[7:58] Ryan Warwick: Something you, you said triggered this thought, that, you know, we, we talk about this, but I think without us as a guide, people, they, they came in, and they were worried about whatever they were seeing on the news or hearing from friends. And it probably related to timing the market- Mm-hmm... at some level, right? They're- Right... if they said, "The market's frothy," it means maybe we should get to the sidelines before it falls. Right. Well, that's, that's market timing. Mm-hmm. Or maybe it's should we be buying gold or crypto or-
[8:29] Kimberly Jaques: Some safe haven, yeah
[8:29] Ryan Warwick: ... Nvidia, or should we... You know, so without us, people are kind of drawn to this siren song of what we call the illusions, but in investment selection, the illusion of investment selection or the illusion of market timing. But with us, we talk through that. So you talked through that with them. Mm-hmm. You, you didn't discount it and just move on. Right. You, you educated them, but then you turned it around and, and said, "What is... That, that's the wealth stuff, but what is the worth beyond that?" Mm-hmm. Right? Right. I think that's-
[9:02] Kimberly Jaques: Yeah, that we're gonna continue to- Does that resonate? Yeah, completely. We're gonna educate you through this. We're gonna educate you why we're doing what we do on your behalf. Education is-
[9:10] Ryan Warwick: And now we get to go in- Yeah... and plan. Yeah. Okay, now y- now that we've dealt with that, what are your long-term goals? Right. What are your dreams? You know, I mean, d-
[9:18] Shannon Warwick: That education, though, is so empowering. It's so empowering. I think that's, that's what you're offering there, right? Is, is taking away that fear. And I'm also hearing that Psychology of Money resounding again. We've talked about this. Just you're the, uh, emotional barrier.
[9:33] Kimberly Jaques: Right.
[9:33] Shannon Warwick: Right? Yeah. They're coming in and-
[9:35] Kimberly Jaques: It's a safe place for them to say, "I have fear."
[9:37] Ryan Warwick: Mm-hmm.
[9:38] Shannon Warwick: Yeah.
[9:38] Kimberly Jaques: And how many times they do hear- So heightened... from other people. Yeah. Right? Mm-hmm. Like, outside, and I mean, I get those phone calls. "Oh, my, you know, I was at this party, and people are telling me to invest in crypto." And I'm like, "Well, we don't do that." You know?
[9:52] Shannon Warwick: You have to put on... You- you're kind of using your mom voice a lot of times.
[9:55] Kimberly Jaques: Yeah. "Well, okay. Well, let's entertain." Okay. "What would I do?"
[9:58] Shannon Warwick: Yeah.
[10:00] Ryan Warwick: Would you like to set up a- Bring that down... play account?
[10:02] Kimberly Jaques: Yeah, ex- that's exactly it. That's exactly... I, I'm not... I mean, if you wanna go for it.
[10:06] Shannon Warwick: If you wanna do that, that's fine. Yeah. But yeah. A story that has reshaped how you think about safety versus performance. Can, can you bring something up? What, is anything coming to mind?
[10:18] Kimberly Jaques: I guess when I felt like I am an advisor is we were getting ready to come over to Charles Schwab. So we had to- Mm-hmm... move an entire book of business, and not only that, I was retiring a former partner. And this particular client only worked with the former advisor. He didn't do a lot of planning, so I wasn't involved. Mm-hmm. And, um, I always kind of had this feeling like he just wanted that hot stock and, you know, like, "Oh, is this gonna be a fit?" And so he's like, "Okay, this is all getting dropped on me. You need to meet me at this restaurant, and we're gonna have a talk." Mm. And so I went. I was nervous, but I just kinda said, "I just gotta go in there and say what I do, and if it's not a match, it's not a match." Yeah. And it was a larger client. He sat down, and he looked at me and he goes, "Okay. There's three rules I have. Don't lose my money, costs low, and I don't need to hit home runs." And I went,
[11:09] Kimberly Jaques: "Okay. This is not the... You know, that's exactly who I am." Mm-hmm. Right? "That's exactly where we're going."
[11:16] Shannon Warwick: I can do that. "I got you." Yeah. You know? Yeah.
[11:18] Kimberly Jaques: And so he reiterated that. He walked out the door, got all the paperwork and that for, like, an hour, signed it. We came over. He reiterated that, like, the next three years. He never had come into the office before with my former partner. Never. You always had to meet off-site. Interesting. One day he called and he goes, "I'm coming in and having a cup of coffee."
[11:38] Shannon Warwick: Wow.
[11:39] Kimberly Jaques: And so-
[11:39] Shannon Warwick: And it was a compliment.
[11:40] Kimberly Jaques: It was a compliment. And he just, it's been where I realized he knows what our, what we're doing. We're not, we're managing his core well. We're not trying to hit home runs and tell him get into crypto 'cause you're gonna make it- Mm-hmm... 'cause he doesn't wanna see that go to zero- Mm-hmm... 'cause he's seen enough of that. Mm. Right? Like, your hot stock was not hot.
[12:00] Shannon Warwick: Your investing is not... Yeah, this is over time. Yeah. We're- Yeah. Yeah.
[12:04] Kimberly Jaques: And he's watched his wealth build, and he's been- Really happy
[12:07] Ryan Warwick: Well, you've... It sounds like you've built trust beyond- Yeah... whatever was- Relationship... there before, through relationship, through- Yep... different conversations that centered probably more on worth.
[12:17] Kimberly Jaques: Yeah. Yeah. And we, um, you know, COVID came. Mm-hmm. And I was a safe haven for him to talk about his frustrations with his business and- Wow. So yeah, it's just- That's a compliment. Well, it's, it's just naturally happening. It's not like I'm forcing it, right? No, it's organic. Yeah. It's organic, and I realize that's maybe something I'm comfortable doing with people, is providing that trust so they're not worried.
[12:42] Ryan Warwick: Being a guide through the inevitable storms.
[12:45] Kimberly Jaques: Yeah.
[12:46] Shannon Warwick: Right. Like, has that experience changed the way you advise in general? Has it, has it, has it fed the way that you approach clients?
[12:55] Kimberly Jaques: A little bit, because I think- Huh... I think core wealth always, you know? Core wealth. Yeah.
[12:59] Shannon Warwick: That's what it brought to you.
[13:00] Kimberly Jaques: Yeah. It's real wealth, right? Real wealth. I wanna be responsible for, for the real wealth to get you to your goals. This is how we, you know, we're gonna manage this responsibly. Just getting the permission from somebody I thought was interested in something else really solidified that people just want that peace, no matter how much they have in assets.
[13:22] Shannon Warwick: Mm-hmm. And, and the way they may come in and appear on the surface- Yeah... if you'll take the time to really dive in and know them, maybe there's a completely different... But you, you know people. Oh, yeah. Definitely. Yeah.
[13:39] Kimberly Jaques: I've introduced my family to some of my clients, you know? But, and they, they're invested in my family, too. Wow. Yeah.
[13:45] Ryan Warwick: We get to walk with people, I would say m- much more than their attorney, but much more than their CPA. I mean, you've, you brought up that you were the first call. I know you've walked with many widows. Mm-hmm. To this day, what gives you joy when you're working with clients?
[14:02] Kimberly Jaques: You know, just knowing that they're taken care of, that somebody cares about them, you know? That's, I think everybody just wants- Yeah... somebody to know their story, and we let them tell their story- Right... see, right? And so- Do you- We value that. Yeah. You listen, and you value who they are as human beings.
[14:20] Shannon Warwick: We, we opened up with saying we know more wealth is moving to women, and you just said you've worked with a lot of widows. And we know that, um, the data is saying that, oh, 124 million by-
[14:33] Ryan Warwick: Trillion.
[14:34] Shannon Warwick: That's what I meant, trillion. By... I should look at my own notes, by 204f- 2045. Um, and a lot of that being, um, inherited wealth, lot of widows, um, baby boomers. Um, talk about what is percolating for you with, with knowing what's coming and your heart to serve. I think you have a heart to serve widows.
[14:59] Kimberly Jaques: Mm-hmm.
[15:00] Shannon Warwick: What, what is in your mind as you think about women and wealth and the fact that many women are reporting feeling unprepared to, to manage the windfalls of inheritance? Uh, there's a low confidence in managing inherited wealth. There's a significant share of women who have yet to even open an investment account. Why is that... What is that saying to you?
[15:22] Kimberly Jaques: That we need to educate the next generation as well.
[15:25] Shannon Warwick: Okay. I mean, I think, you know, I, I hear that there's, there's a lot of... Uh, vulnerability can be so powerful, but I'm hearing that there's a vulnerability here that could be dangerous. A- and that kind of sends up a red flag for me, like education is critical right now.
[15:43] Kimberly Jaques: Mm-hmm.
[15:44] Shannon Warwick: What do you say to that?
[15:45] Kimberly Jaques: Well, I think we need to, as a firm, probably get some things in place for clients- Agreed... right? And kind of have maybe even a little mini university of, you know, here are some resources and kind of a toolkit- Mm... for those people that come into wealth unexpectedly. But we also need to train that next generation. And really, I think we've, we're doing a good job of really trying to find culture fits and finding those people that really w- have the heart to serve, 'cause I don't, I don't think a lot of people just naturally have that. They have to really wanna serve people.
[16:20] Shannon Warwick: Mm-hmm. Because you've said over and over, this is relationship. This isn't a transaction for you.
[16:24] Kimberly Jaques: No, it never has been.
[16:25] Shannon Warwick: Just, a- and not for anyone. Yeah. At RW, the, it is not a transaction. No. I, it's- This is a human... This is a life story. I am privileged and humbled to get to walk with you in your journey.
[16:36] Kimberly Jaques: I feel like it's what I'm supposed to do, is serve-
[16:39] Shannon Warwick: That's why you're here
[16:39] Kimberly Jaques: ... in this capacity. Mm-hmm. So I think that's just what I'm giving back.
[16:44] Kimberly Jaques: That's my- Mm... give back and then to give back.
[16:47] Shannon Warwick: Speak to that a little bit. Just how, what do you see coming, and what do you... So education, if you think about widows that you have worked with up until this point, what have you learned? What have you gleaned from those experiences that you think you could even take that further into-
[17:04] Kimberly Jaques: Well, I think especially working with widows, you know, you have health issues as well. Mm-hmm. So a lot of dementia's happening. Mm. Right? And then they sometimes, their families aren't able to support them in this realm, right? And I've been in situations where I, I kind of protect their wealth from those family members.
[17:23] Shannon Warwick: Interesting.
[17:24] Kimberly Jaques: Right?
[17:24] Ryan Warwick: Well, that's an interesting statement because we, we talked about how many of the people who lose spouses- Yes... end up being women.
[17:35] Kimberly Jaques: Yes. Mm-hmm. Oh, right. Right? Women- 100%
[17:37] Ryan Warwick: ... naturally, uh, are outliving. So women are going to find themselves, statistically speaking, in charge of money. And, and if they've never done that, that can be overwhelming. And I've heard from some people that the statement might be made, "Well, I have sons."
[17:55] Kimberly Jaques: Yes.
[17:55] Ryan Warwick: Or, you know, right, or, "My kids will help." Right. Yeah. Now, you're speaking to maybe another side of that. Mm-hmm. That maybe, maybe that's not just the answer.
[18:03] Kimberly Jaques: Right. Right. And you have kids that they think they know is, you know- Mm... a certain investment That they should do, and not a lot of- But-... times that's not in their best interest
[18:13] Shannon Warwick: ... but have they been educated? I mean, you said- No... this next gen- Yeah... there needs to be education. What if they're not aligned?
[18:19] Kimberly Jaques: Yeah, and a lot of times they're not- Okay... quite honestly.
[18:21] Ryan Warwick: And competing interests, right?
[18:23] Shannon Warwick: Mm-hmm.
[18:24] Kimberly Jaques: Yeah.
[18:24] Ryan Warwick: Um, the more money that's maybe a parent doesn't spend is left to the next generation. I mean-
[18:29] Shannon Warwick: Mm-hmm.
[18:29] Kimberly Jaques: Yeah
[18:29] Ryan Warwick: ... a- and unfortunately, we know, and we're, and certainly not speaking of any particular situation, but we know that often elder abuse- Yeah... happens at the-
[18:40] Shannon Warwick: Family, you know. Yeah. Yeah
[18:41] Ryan Warwick: ... be- because of family. Yep. Right? So, so there's some risk there if y- if you just say, "I don't want anything to do with it." Right. Right. Right. Have you seen any, not elder abuse, but have you seen or encouraged, um, had to encourage and bring along spouses who maybe didn't want to be involved?
[18:57] Kimberly Jaques: Oh, yeah. All the time? A lot of times. I'll be laughed till... Then they come into this meeting. Oh, no, they don't wanna make it. Right? And, and that's, for me, frustrating because- Hmm... there's a whole side that's not learning, um, because they just let the spouse do the meeting.
[19:14] Ryan Warwick: And there's probably an assumption being made.
[19:17] Ryan Warwick: I j- I won't understand it. I'm not interested because it's just about money, and he has that handled or- Yeah... whatever the case may be. But they're missing out on all of the, the dreaming, the goals, the, the things that, I mean, you've already brought up, aren't around money, and- Right... so they, they would understand. Exactly. Right. Yeah.
[19:35] Kimberly Jaques: Exactly.
[19:35] Shannon Warwick: So we're talking about in the, the, the program that we're working on, the Life Raft, part of that, a big part of that, is life, living in family enterprise, and that's what I'm hearing you say, is educating your family, having next gen preparedness, having everybody on the same page, and living in family enterprise. Mm-hmm. Goals, dreams- Mission, right... vision, purpose. Are we all on the same page? Yes. And including everyone. There's a voice, you know. It's not just there's one person and they're in charge of everything, and we just all kind of go along. And then we have questions at the end of the day because we're frightened because we don't know. Yes. You're saying, no, this is invitational.
[20:14] Kimberly Jaques: Oh, absolutely. And- So it's invitational. Even-
[20:17] Shannon Warwick: There's an education to be had
[20:18] Kimberly Jaques: ... even during the meeting, I'll a lot of times stop and go, "Are you following this?" Right? And- Oh, wow... you know, we, and I think the, you know, when we go through the planning, touching on the goals, touching, I think that's where you do see the other spouse realize this is kind of like, "This is about us," right? Mm-hmm. "You're not just giving me numbers. This, this is, you're talking those goals. You're talking what we have. I'm seeing it on a, a page." So really diving into the planning and kind of their priorities tends to engage the other spouse that may not have really been interested before.
[20:53] Shannon Warwick: And there's something I'm hearing there, too. You know, you said you really think education, education, education. I agree with you. I'm, I'm hearing it speaking to learning styles. Hmm. That's what I'm hearing here a little bit. Little bit, yeah. Yeah. Yes. Um, maybe it's not auditory. Maybe, maybe once it's on paper- Yeah... and I'm a visual- Visual... learner. Right... maybe I am Socratic. I, I need to have this back and forth conversation. I need to be able to read and process and ask- Mm-hmm... questions. And I, I'm hearing learning styles here. Yeah. And you see that?
[21:23] Kimberly Jaques: Definitely. And, and if some- a spouse seems to be struggling, I'll say, "Do you need a one-on-one session with me?"
[21:28] Shannon Warwick: Oh, I love that. So you're, you're willing- Yeah... to coach.
[21:31] Kimberly Jaques: Yep.
[21:31] Shannon Warwick: And, and so when Raleigh was in here, we were talking a little bit about if, if a woman were to s- say to you, "I'm really embarrassed to ask this question. It's so intimidating- I know... right now. I, I don't wanna ask you this," what would you say to them?
[21:43] Kimberly Jaques: Oh, ask away. Like the, the s- that's- Yeah... what I'm here for. Yeah. This is my job. You need to understand what we're doing.
[21:49] Shannon Warwick: Yeah, and o- one of the things, it gets really personal to me, is, you know, as, as I've c- endeavored to learn and been on this journey, I've, I've, you know, why, why would you know that? Giving yourself permission to say, "Well, why would you know that?"
[22:00] Kimberly Jaques: Mm-hmm.
[22:01] Shannon Warwick: Well, of course you wouldn't know that, so you have to ask. You know, by trade, I'm in healthcare, and I ask myself the same, "Well, Brian, why would you know that?" So just ask me.
[22:09] Kimberly Jaques: Yeah, right. Ex- you would-
[22:11] Shannon Warwick: You wouldn't have to know that. A- and I think I had to learn, and I think you would say this to, to a spouse, you don't have to be an expert. That's your job.
[22:21] Kimberly Jaques: Right.
[22:22] Shannon Warwick: But you do have to trust me and have a relationship with me- Mm-hmm... and know that I want, I am invested in you. Correct. And I want to educate you. Yes. And I want you to feel, so no question is stupid or too base.
[22:36] Kimberly Jaques: And I even a lot of times will go, "Well, they say you need to probably hear this seven, now it's like 10- I-... maybe 20 times," right?
[22:43] Shannon Warwick: I love you for that- Yeah... because that's exactly correct.
[22:45] Kimberly Jaques: Yep. I'm like, "So I probably said this last year, but you probably didn't remember, so let's-
[22:49] Shannon Warwick: You wouldn't have retained it
[22:50] Kimberly Jaques: ... just do it again," right?
[22:50] Shannon Warwick: So we need to cover it again.
[22:51] Ryan Warwick: The news gets- Yes... to speak into your mind every day. Yeah, exactly. I g- I get once a year.
[22:55] Shannon Warwick: Once a year, yeah. Exactly. Well, and one thing that I do is I work with adult learners in, in an underserved, um, and unserved population, and that's one of the things I n- I'm repeating, right? Mm-hmm. I'm repeating it. Yeah. I'm sending it home in multiple forms for them, video, written, auditory. We have a quiz- Yeah... because they have to hear it over-
[23:16] Kimberly Jaques: Over and over
[23:17] Shannon Warwick: ... and over again. Oh, yeah. I say, "Go home and practice that."
[23:19] Ryan Warwick: Well, and I think it's potentially worse when, when it's in a topic like wealth- Mm-hmm... that, that we know to be highly emotional. Yes. So it's not just learning.
[23:28] Kimberly Jaques: Money is, yeah.
[23:28] Shannon Warwick: There's already a, I think there's already a, there's already a barrier. There's already a fear. There's worry. There's worry. Yeah. There's fear. Yep. Truly, and when you are trying to learn in a heightened state, you are not retaining the information, period. We know this.
[23:45] Kimberly Jaques: Yeah.
[23:45] Shannon Warwick: It, it is going in, and they're retaining very little.
[23:47] Kimberly Jaques: And I grew up in this industry. I've seen a lot of changes on how advisors work, right? Mm-hmm. So when I started in the industry, it was, "Let me show you how smart I am. Let me give you the," you know? And, and you could just see people glaze over. And then it even got to the point where, you know, clients would be like, "Um, do we have to go through that?" Right? Like, g- 'cause it didn't resonate. I'm like, "No, that's what you hire me for. I'll do all this, you know- Yeah... looking at these charts. You don't need to." Mm-hmm. You know, just let's, let's make it about you.
[24:15] Shannon Warwick: If you want to, that's fine. Right, right. I'll give you anything you want. Exactly. But if not-
[24:20] Kimberly Jaques: I have access to it all
[24:20] Shannon Warwick: ... I can distill this down- Mm-hmm... and then you ask me anything you want.
[24:24] Kimberly Jaques: And that's why the planning, I mean, I, um, over the years, a lot of times they, they're like, "Okay, we're ready to go." And I'm like, "Well, do you wanna know how the performance is?"
[24:31] Shannon Warwick: Don't you wanna see the charts? So- Right? Color-coded.
[24:34] Kimberly Jaques: I know. I'm like, "Oh, you're do- uh, okay." But I have the gift of tenacity Yeah. I have everything it takes
[24:41] Shannon Warwick: You have all of the tasks
[24:41] Ryan Warwick: You have six things on the agenda.
[24:42] Kimberly Jaques: Yeah.
[24:43] Shannon Warwick: Sweet.
[24:44] Ryan Warwick: Um, when you started in the industry- Mm... was planning really a thing? Never. No. Interesting.
[24:51] Kimberly Jaques: Oh, gosh, no. It was what was the hot stock, and you pounded... Like, you went down the list of all the clients, and you tried to p- push this stock. Yeah That was, when I went into the business with Merrill Lynch, you know, that was part of my training classes, go research a stock and pitch it to all of us in the class.
[25:08] Shannon Warwick: Sell.
[25:09] Ryan Warwick: Yeah.
[25:09] Kimberly Jaques: Sell. Sell the stock. Yeah. It didn't matter if it made sense for that client or not.
[25:12] Shannon Warwick: That's against the grain for you.
[25:14] Kimberly Jaques: Yeah. Like, that, that's why I didn't wanna do that.
[25:19] Shannon Warwick: Really against the grain for you.
[25:20] Kimberly Jaques: And when the market dropped, it, oh, those were fun calls, 'cause you had to call every single one of them and get them out of that stock.
[25:27] Shannon Warwick: I can imagine for you-
[25:28] Ryan Warwick: What a different world. Stressful
[25:30] Kimberly Jaques: Oh, it was so stressful. That's why- So stressful
[25:32] Shannon Warwick: ... I'm just thinking about you as a person, that had to be so painful.
[25:36] Kimberly Jaques: I had tenacity. I got it done.
[25:38] Shannon Warwick: Yeah, you got it done.
[25:39] Kimberly Jaques: Yeah. But I didn't enjoy it, probably. Right?
[25:41] Shannon Warwick: But there was no joy in that.
[25:41] Kimberly Jaques: Yeah.
[25:42] Ryan Warwick: Likely they didn't enjoy it either. Mm-mm. It... But at some point they, you know, nobody knew any, any different.
[25:48] Kimberly Jaques: Any different. No. This is-
[25:49] Ryan Warwick: So now we get to have purpose-based, uh, conversations about what their dreams- Yeah... and goals are. 100%. I mean- Yeah. It's, I, I assume much more fun.
[26:00] Kimberly Jaques: It is. It, I mean, that's why I now feel like I actually can serve people- Mm... in this capacity, right? I'm not just, you know.
[26:07] Shannon Warwick: Right. Well, you say, too, in your bio, "I want clients to leave with an empowering feeling of forward momentum."
[26:13] Kimberly Jaques: Mm-hmm.
[26:14] Shannon Warwick: So education does that for them.
[26:17] Kimberly Jaques: Yeah.
[26:17] Shannon Warwick: Relationship does that for them. Planning does that for them. All of the things are intrinsic to you- Mm-hmm... in the way you practice.
[26:24] Kimberly Jaques: Well, yeah. I want them to leave with the peace of mind that we're okay. You know? We're- A lot of times I'll say-
[26:30] Shannon Warwick: You said the same, "We're okay."
[26:32] Kimberly Jaques: Yeah.
[26:32] Shannon Warwick: So here's the interesting thing. In this Life Raft project, what's one of the number one, if not the number one question? Are we going to be-
[26:40] Kimberly Jaques: We going to be okay. Yeah
[26:41] Shannon Warwick: ... and you said it. Yeah. Raleigh said it, too.
[26:43] Kimberly Jaques: Well, and a lot of times I'll be like, "Oh, A+ today," you know? And that just, they're like, you could just see the relief.
[26:50] Ryan Warwick: As, as you plan with and, and for people, I mean, I think one of the things that is reality is we can't project the future. We can't perfectly map it out. And so part of becoming comfortable and, and knowing we're going to be okay is, is understanding contingencies and- Mm-hmm... how we might, uh, react to or re- respond to, uh, hopefully proactively, around things that come at us that aren't planned for. Mm-hmm. Um, but do you wanna- Mmm... speak to that at all? How do you, how do you help people prepare for the unexpected trials?
[27:25] Shannon Warwick: Kind of like a life event that occurs, like-
[27:27] Kimberly Jaques: Correct
[27:27] Ryan Warwick: Could be life event, market event. Yeah
[27:28] Kimberly Jaques: ... transitions, planned, unplanned.
[27:30] Shannon Warwick: Yeah.
[27:30] Ryan Warwick: Yeah.
[27:30] Kimberly Jaques: Yeah. I mean, I think, you know, every time we're looking at the plan, there's gonna be, you know, in the market, there's the black swans. And then- Mm... your life, those kind of events can occur to you, right? We c- we can't plan around it, but we, we will know what to do in the moment to respond. Mm-hmm. You know? Mm-hmm. That's what we plan for, is that this plan understands that there's gonna be times where the market's not performing. Mm-hmm. There's also gonna be times where we're gonna have to step back and relook at this plan based- Okay... on scenarios that happen, whether it's a long-term care event or a loss of a spouse. Right. Right? We, we go back, and we kind of look at that. We... And a lot of times with my clients as they get older- Mm... we start talking about those life long-term care events, and how are we gonna fund the situation. And- Sure... what's great about the planning tool is if you know where you are, you know where you're going. Yeah. So let's put- Oh, that's beautiful... right where we are, and if we, let's, let's do a scenario if this were to occur. Mm. What does that look like? You know, to give them- Love that... assurances that we can look at those things.
[28:35] Shannon Warwick: So my next question was how do you help a family feel truly at peace with their financial picture, but I think, I think you're addressing it right now.
[28:43] Kimberly Jaques: Well, I tell them that's why these meetings are so important. I need to know if we have health issues. I need to know, you know, it's not just about- Right... how we're performing, it's this meeting's your meeting about your life, and so I can be prepared for the next year to make sure we're doing the right things for you.
[29:01] Shannon Warwick: I love that you said that, because when Raleigh was in here, we were saying, you know, how many times do you really, what do you feel is necessary to meet with a client? She said, "Well, that annual review is absolutely critical." Mm-hmm. We have to meet at a minimum- Mm-hmm... once a year. But then I asked her, what if things are percolating, and there are fears and concerns and worries, major life events that are starting to occur, a change in health, say? Mm-hmm. And that pops up, and we're three months out from that annual review. What do I... She said, "Call." Yeah. Right. What would you-
[29:30] Kimberly Jaques: Same. Yeah. Same. Like, you call me anytime. Call. Yeah.
[29:35] Shannon Warwick: And if you need to come in and meet face-to-face? Well, oh, absolutely. Come in. Oh, yeah. Okay.
[29:40] Kimberly Jaques: And, and that's how I present the plan. You see how dynamic this plan is. You call anytime, we'll go back through it. If you have, if you wanna buy a new car, I'll throw it in here. We'll go-... through it so you can- Wow... see what that is.
[29:52] Shannon Warwick: So they're not a burden to you. Oh, no. Never. These changes aren't a burden. No. This isn't an annoyance.
[29:57] Kimberly Jaques: Well, and the funny thing is, is you get in tune with clients, and I always, I'm like, I'll be thinking about somebody, and I'm like, "I gotta call them. I gotta call them." They'll call me. You are kidding. No, it happens all the time.
[30:09] Shannon Warwick: It's like a sixth sense.
[30:10] Kimberly Jaques: Oh, it frustrates me- So-... when I don't pick up the phone and call them, because I wanna be the proactive person. And then I'll be like, "Oh, they caught me first."
[30:19] Shannon Warwick: I love that. It is. I was supposed to call them first. My ears were twitching, and-
[30:22] Kimberly Jaques: Exactly. And I'm learning, you just pick up the phone and call- It-... when I, I hear that. Wow. And sometimes I'll just do it on my way in to work. Like- And sure enough. Yeah. "Oh, I was just gonna call you." It happens all the time. Like- That's crazy. Yeah. It's, it really is. It's like-
[30:37] Shannon Warwick: I think you get, like, Best Investor of the Year award for that. Like, you have some sort of, like-
[30:42] Kimberly Jaques: ... Spidey Sense I know It kind of freaks me out a little bit.
[30:43] Shannon Warwick: It's a little freaky. I'm not gonna have anybody else. And maybe it's because you're a mom.
[30:47] Kimberly Jaques: Yeah, I don't know. It's, it's something. Because it's, it's happened pretty routinely the last probably 10 years.
[30:54] Shannon Warwick: So let's talk about the fact, okay, as, as a woman, as, as a daughter, as a wife, as a mom, have those things brought a different sense, perspective, strength to the way you engage with your clients?
[31:11] Kimberly Jaques: I don't know. Sometimes I think you're either a nurturing person or you're not, right? Or just even your personality to, to just care for others. Um- Yeah... so- You're a caregiver. Yeah. I think I just, I want to help people. Uh-huh. And so it just becomes- It's just intrinsic... this is what you do in your everyday life. But I do tell my fam- I- a lot of times I'll be like, "Sometimes I'm not really great... I love... I'm a gift giver, and I love to acknowledge birthdays, but we have so many people in our lives," right? Yes. I, I'm like, I do that all day long with my clients- Yeah... and I'm caring about their lives- Okay... and, and I have, what, 100 plus households.
[31:50] Shannon Warwick: Yes.
[31:50] Kimberly Jaques: And so I'm kind of like, yeah, I get home and I'm like, "Oh, I forgot so-and-so's birthday," you know, on the family or friend side. And I, I'm like-... "Oh, I can't be everywhere." But I- Yeah... will never let that drop with my clients just because- Wow... you know, they're just so ingrained.
[32:04] Shannon Warwick: That's why you have the Spidey Sense. Yeah. Like- They're ingrained.
[32:08] Kimberly Jaques: I just feel like I just need to take care of these people- Wow... in a lot of the, you know, situations.
[32:13] Ryan Warwick: Kim, what does, what does real wisdom mean to you? Mm-hmm. What does that bring up?
[32:18] Kimberly Jaques: You might say, "Oh, real wisdom, you know it all." Well, you don't know it all. Yeah. Right? And so real wisdom is knowing when you need to bring in an expert or you need to do that research for the client's situation. Mm-hmm. It's, it's understanding that I have to learn and be a life learner right along with teaching my clients. Mm. So just knowing what you don't know is wisdom as well.
[32:41] Shannon Warwick: I'm hearing you say humility.
[32:43] Kimberly Jaques: Yeah, absolutely.
[32:45] Shannon Warwick: That's good.
[32:45] Ryan Warwick: I think wisdom comes with experience. Mm-hmm. So you're, you're, you're saying that.
[32:49] Shannon Warwick: Mm-hmm.
[32:49] Ryan Warwick: And not only can we not know everything, I think it's dangerous if we act like we do. Well, sometimes- Right?
[32:57] Kimberly Jaques: ... I will even say, in fact, I'm having a succession planning with an attorney and CPA for one of my clients tomorrow, and I'm like, "I know enough to be dangerous."
[33:05] Ryan Warwick: Yeah.
[33:05] Kimberly Jaques: You know? So I needed to loop you in because I started, you know, down this- Mm-hmm... conversation with the client. Mm-hmm, mm-hmm. And he's like, "Those are great points." And I'm like, "Well, we need to bring these people in." Right. Right? Yeah. Because I know enough to be dangerous.
[33:18] Ryan Warwick: Yeah.
[33:19] Shannon Warwick: Right. So you know enough to bring in a team- Mm-hmm... to have a multitude of counselors.
[33:25] Kimberly Jaques: And be able to say, "I have to step away-"
[33:26] Shannon Warwick: And be able to step away
[33:28] Kimberly Jaques: ... from that piece of it," right? Okay. Because I can, I can guide you that you need this help.
[33:34] Shannon Warwick: Yeah, exactly. So you're a good guide- Mm-hmm... on their journey.
[33:37] Kimberly Jaques: Right.
[33:39] Shannon Warwick: That's really powerful. Uh, so from a client's seat, what does, what does a great meeting feel like? Do you... What do you think? When they walk away.
[33:48] Kimberly Jaques: I mean, that they felt heard.
[33:50] Shannon Warwick: Heard.
[33:51] Kimberly Jaques: I mean, that they knew I was here. I mean, I just, I don't think I need to present in a meeting. You know, I think we all start out the meeting, I always say, "This is your meeting." You know?
[34:03] Shannon Warwick: That's how you start every meeting. Yeah. "This is your meeting."
[34:05] Kimberly Jaques: This is your meeting. Like, what's top of mind for you? Right. What can I answer today? Make sure that you leave, and I've answered this. And, you know, a lot of times, that gives them permission to go, "Oh, well, what do you think about the tariffs?" Or, "What do you think about this person being the president," right? You know? And I'm like, "Oh, I mean, I can give you my opinion, but I have to play the fed. I, you know, I don't care either way." Yeah. You know? It's letting them expose themselves to what they're hoping to get out of the meeting. Giving them permission. Yeah.
[34:38] Ryan Warwick: Well, and that's the emotional process. I mean, everyone out there is, is saying it matters who the president is.
[34:45] Kimberly Jaques: Mm-hmm.
[34:46] Ryan Warwick: But all of the data says it doesn't. Doesn't, right. And so it's our job to bridge that gap and- Right... get them to really focus on what matters- Right... and not respond emotionally and actually damage the plan. Exactly. Which you've probably seen that, too. Mm. Any examples or...?
[35:04] Kimberly Jaques: Where they try to damage the plan?
[35:05] Ryan Warwick: I mean, any... I mean, over the years, I, I can think of people that got out of the market because- Mm... so-and-so was elected president, and, and they didn't like that person. Mm-hmm. And, and here we are 300% higher and- Yes... and now when do you ever get back in?
[35:19] Kimberly Jaques: Right.
[35:20] Ryan Warwick: And so those, those kind of emotional reactions have created damage.
[35:24] Kimberly Jaques: Correct. And I mean, and it's, I mean, it's kind of a hard decision as an advisor if you finally have to say, "Okay, we're gonna let you do this." And a lot of times I'm like, "Then I'm not your advisor." Mm. I c- I... You're not listening.
[35:37] Shannon Warwick: 'Cause I have to act within your best interest. Yeah. And I don't believe that's what this-
[35:40] Kimberly Jaques: And I don't believe this is so-
[35:41] Shannon Warwick: Yeah, as a steward... we're... Yeah. Yeah.
[35:43] Kimberly Jaques: Absolutely.
[35:44] Ryan Warwick: It's like that resonates, yeah, a- as a steward.
[35:46] Shannon Warwick: As a steward. This is damaging-
[35:47] Ryan Warwick: You care more about the person. This isn't a transaction.
[35:50] Shannon Warwick: Yeah.
[35:51] Ryan Warwick: I can no longer... I, I can't walk with you and, and be that guide if, if we're going to be in and out- Mm... because of things that we can't control.
[35:59] Kimberly Jaques: Exactly. Mm. Yeah. I mean, I've had to say, you know, "We just need to part ways 'cause you're paying me, but you're not taking my advice." Mm-hmm. Right? Mm-hmm. And so it's just not-
[36:10] Shannon Warwick: And I can't watch you get hurt. Exactly. Exactly. Which is what I truly believe is going to happen. Right. Yeah.
[36:16] Kimberly Jaques: Right?
[36:16] Ryan Warwick: And I think that's an important thing for listeners to hear- It is... that we care more about the person-
[36:22] Shannon Warwick: You could keep collecting
[36:23] Ryan Warwick: ... than the-
[36:23] Kimberly Jaques: Correct... paycheck. Correct. And it's like, well, then this is just not a fit. Yeah. Just, like, I can't help you.
[36:29] Shannon Warwick: I refuse to let you become the transaction.
[36:31] Kimberly Jaques: Right. And that's kind of the wisdom of saying- There's the wisdom... you know, "I don't know what's gonna happen, but I know that what you're doing is not what you should be doing from my three decades of experience." You're gonna hurt- "You're gonna hurt yourself."
[36:44] Shannon Warwick: You're going to hurt yourself. And your family. Yeah. Exactly.
[36:48] Kimberly Jaques: Mm-hmm. A- and I think the truth is, okay, so we're talking about women, um, inheriting wealth. So often truly believe the spouse wants what's best for, let's say, their wife. And so you're wanting to leave them in a place of strength- Mm... for, for their family.
[37:04] Shannon Warwick: Right.
[37:05] Kimberly Jaques: You're wanting to leave them in a place of safety, and if they can't partner with you to do that, you're saying, "We can't-
[37:13] Shannon Warwick: Yeah
[37:13] Kimberly Jaques: ... work together," because we're not working together now.
[37:15] Shannon Warwick: Right.
[37:16] Kimberly Jaques: Right?
[37:16] Shannon Warwick: And well, I'm not able... You're not taking my advice really.
[37:19] Kimberly Jaques: I can't guide you.
[37:20] Shannon Warwick: Yeah. I'm, I'm struggling to guide you here. Mm-hmm. And it will be very painful for me to see what happens to your, your spouse.
[37:26] Kimberly Jaques: Mm. And that's... I mean, those are difficult decisions, you know? Oh. And usually it's, you know, somebody that just can't, can't be rationalized with, you know? Sure. In the moment.
[37:37] Shannon Warwick: I think one, one final maybe question here is, how do you keep both spouses engaged, um, so that one person isn't just carrying it all? How do you, how do you try to keep that in tandem sort of?
[37:49] Kimberly Jaques: I really feel like you just... I n- I try to get to know each spouse.
[37:53] Shannon Warwick: Separately, as different people. Yes. Okay.
[37:55] Kimberly Jaques: It's not, you know... And so I'll try to weave in things that plug them in, right? You know, if we have one spouse that's kind of the decision-maker- Okay... I'm bringing the other spouse in personally, and, "What don't you understand?" Or, "Could I expand on this?" Right? Okay. Like, I feel like I really try to develop a relationship with both. I think maybe being a mom, being, you know- There it is. Like, yeah. I just really find that, you know, I can relate, 'cause I know in the past I've worked with advisors that couldn't relate to one of the spouses, right? Sure. And so, and even comments were made, "Oh, never looked at me, never talked to me."
[38:33] Shannon Warwick: I had a woman share with me just the other day, it was very painful for her, she said, "I don't feel like my spouse is being treated well, but when he's not there, it's even worse for me," is essentially what- Wow... she was saying. Yeah. "I'm treated- From their advisor... even differently." Yes, by, from their advisor that they were currently working with. And she was sharing this, and to be able to talk to her about that. When I'm hearing you say, "Oh, no, no. We know you as individuals and as a couple, and I'm offering you the platform. I wanna hear your voice." Mm-hmm. "I wanna know you, and I want you to feel free to speak." Yes. Do you find that as you're walking in time with them, maybe they're a little bit quieter, and then they get, they get a little more of themselves?
[39:13] Kimberly Jaques: Oh.
[39:13] Ryan Warwick: Then they get a little more.
[39:14] Kimberly Jaques: Absolutely. Yeah? And I mean, I-
[39:16] Shannon Warwick: That's gotta be fun.
[39:16] Kimberly Jaques: It is, 'cause you could... You see them starting to plug in. "Oh, I remember this chart," you know? And y- you do, you see them start to- That's rewarding... engage more.
[39:25] Shannon Warwick: Yeah. Yeah, that's reward- as a teacher, because really that's what you're doing. Mm-hmm. You're seeing the fruit. Exactly. Oh, that's fun. Exactly. Yeah. They're getting a little spicy.
[39:36] Kimberly Jaques: I like it.
[39:37] Ryan Warwick: Well, and then as they, as they walk through time, you've probably walked with people, and may not have been the scenario there, but if you've, you know, you've now equipped and prepared that spouse, whether it's a man or a woman- Yes... to handle the coming trial. Right. And, and we all will experience trials.
[39:56] Shannon Warwick: We all will, yeah. And we- Absolutely
[39:58] Ryan Warwick: ... call them transitions, planned or unplanned. But when you get that call, if, if that was happening right now, what would you say to a, a person who says, "I just lost my spouse"?
[40:06] Kimberly Jaques: Hm. I only say, "You just... I don't want you to think about any of this stuff." Right? "You have things to handle. Let's focus on getting through- Yes... what you're dealing with right now." Yes. "I'm a phone call away. Like, I'll, I'll do my side, and then he'll be talking soon, but just- Mm-hmm... I'm here. Worry- I worry about this stuff for you. You don't need to."
[40:30] Shannon Warwick: I know. Yeah. That's my job.
[40:31] Kimberly Jaques: Yeah. That's my job. You need to go be with your family.
[40:35] Shannon Warwick: And then even in like in a divorce situation, right? Yes. You kind of talk about this inherited- Mm-hmm... and the spouse that you sort of-
[40:41] Kimberly Jaques: That's, but that's the other side, yeah. That, that- And that's in the notes... kind of- Divorce too
[40:44] Shannon Warwick: ... speaking back to- Yeah... kind of getting to know each individual. Yes. I've probably had six divorces, and I've kept both spouses.
[40:51] Kimberly Jaques: I am telling you right now, that is really powerful.
[40:54] Shannon Warwick: And it's... And then the last divorce I went through, they, they said, "Well, who gets you?"
[40:58] Kimberly Jaques: Who gets you?
[41:01] Shannon Warwick: Oh. And so- I don't think you can get-
[41:03] Ryan Warwick: Was it written in their legal agreement?
[41:06] Shannon Warwick: Yeah. But I think that just speaks to the heart of, of being the steward to the human.
[41:13] Kimberly Jaques: Mm-hmm.
[41:14] Shannon Warwick: Right?
[41:14] Kimberly Jaques: Well, and it's curious, and s- may- you know? And maybe people just aren't, some people in our industry aren't curious about others, right? Yeah. They're only concerned with themselves. And I- Yes... I really feel like I've always just been more interested in other people than- Right... myself.
[41:29] Shannon Warwick: Widowed women often switch advisors, uh, so let's see, 80% leaving their current financial advisor within a year of their spouse's death. Do you see that happen?
[41:39] Kimberly Jaques: Mm. No.
[41:40] Shannon Warwick: No.
[41:42] Kimberly Jaques: No.
[41:43] Shannon Warwick: And it has to be because you've built relationship.
[41:47] Kimberly Jaques: And I don't know if maybe it's a female advisor lets the guard down for another female. Maybe. Right? Yeah. Maybe there's some- something there. Some security maybe. Yeah. And I remember when I was with Wells Fargo, they had, you know, whole training courses for men on how to relate to the female spouse. Oh, really? Right. Yeah. Okay. So- Okay... I mean, there might just be a natural, um... You know, whereas I probably, like this client I spoke to that I was nervous about- Yeah... meeting with me, right? Gentleman. Mm-hmm. I, I originally felt like nervousness going, "How am I gonna keep this person interested and engaged-
[42:21] Shannon Warwick: As a female advisor
[42:22] Kimberly Jaques: ... as a female?" Yeah. Mm. Yeah. But you know, a long time ago when I was at Merrill Lynch, I remember a client saying, "You know, I want a female advisor because- Interesting... they'll be honest."
[42:33] Ryan Warwick: Well, I've-
[42:33] Kimberly Jaques: Which is crazy, you know?
[42:34] Ryan Warwick: I think there's data that says women are better investors, and I have to- More conservative... I have to believe that that relates to they don't show as much overconfidence. Hm. We men know.
[42:47] Shannon Warwick: Oh, yes.
[42:49] Ryan Warwick: So yeah, we, we can have some pretty strong opinions. Yeah. A- anyway, there's, there is a reality to, um, the value of, of being a woman advisor. Yeah. I think- Potentially... I'm grateful to have six women advisors in this, in this firm.
[43:05] Kimberly Jaques: I, I love it.
[43:06] Ryan Warwick: I think it makes us so strong.
[43:08] Kimberly Jaques: Yeah. Six women advisors. Well, we're... It's the survey- Three owners... you know, mentality- Yeah... of stewardship- Yeah... and it just comes natural probably for us. But I think it's important to point out that this has been something that's happened organically. Yeah. That was not planned. That was not, "Oh, well, we have to have..." No, that was, that was a natural progression. Yeah. How beautiful.
[43:27] Nation Goetter: Yeah.
[43:28] Kimberly Jaques: No, it's- And you feel that it's powerful. Just surrounded- Yeah, it is... by women in your life. Just, it's everybody's got-
[43:35] Ryan Warwick: No, it, it, it is, it is powerful. Yeah. It makes us stronger, and- Mm... I, I think... We, we often go into meetings with multiple advisors. Yeah. And, and so it's, it's great when there's both a male and a female. Mm-hmm. And that's... I think that's a, a powerful combination.
[43:52] Nation Goetter: Yeah.
[43:52] Kimberly Jaques: Strengths. Yeah. Sharing strengths and dynamics and different perspectives. Correct. Oh, beautiful. Disarms, you know, the clients- Wow... to say. I can see that, yeah. I could see that.
[44:04] Ryan Warwick: Anything else you wanna add? Yeah, anything else? Anything around-
[44:06] Kimberly Jaques: The mic is yours.
[44:07] Ryan Warwick: You have a lot of notes.
[44:08] Kimberly Jaques: You do. Oh, yeah. No, is there something pressing?
[44:11] Nation Goetter: As a firm, we're doing a good job at promoting who we truly are at the heart, and that's just, you know... I think people are gonna... We always say, you know, "We only take so many on our ark," and I think, you know, the people that come on our ark are, are very lucky.
[44:27] Kimberly Jaques: So that's what you want listeners to walk away with? Yeah, that we will take care of you. I, you know, I don't think there's one person in this office that doesn't want the client to succeed.
[44:36] Ryan Warwick: Yeah. Mm. Thank you.
[44:38] Kimberly Jaques: Thank you.
[44:38] Nation Goetter: Yeah, thank you.
[44:40] Ryan Warwick: Thank you for listening to the Worth Beyond Wealth podcast. If you liked this podcast, please like, share, and subscribe. The highest compliment you could give would be sharing this with a friend. Thank you. The opinions expressed in this program are for general informational purposes only, and are not intended to provide specific advice or recommendations for any individual or any specific security. RW Investment Management, LLC, dba RW Investment Management, is a registered investment advisor. Testimonials given by current clients are not in exchange for compensation. This document is solely for informational purposes. Advisory services are only offered to clients or prospective clients where RWIM and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by RWIM unless a client service agreement is in place. RWIM is not a legal or tax advisor.