Depending on which precise definition you use, millennials are those currently aged somewhere between 23 and 40 years old. They are often overlooked by professional financial planners who prefer to focus on retirees and/or exclusively high net worth individuals who have had time to build up a large asset base that the advisor can manage for a significant fee.
When Simon Brady founded Anglia Advisors, he did so intending to reach the underserved millennial demographic, particularly those undergoing important life events such as recent graduation, marriage, having kids, buying a home, dealing with debt, a new job with increased income, or becoming suddenly single, whether through divorce or the unexpected death of a spouse. As Brady sees it, it is ironic that this demographic, which is probably experiencing more life changes than any other age group, has maybe the greatest need for financial planning and money management guidance, but has far fewer options to turn to when it comes to professional financial planning help.
Originally from London, Brady relocated to New York in his twenties to work in a derivatives trading environment on Wall Street. Following the Great Financial Crisis of 2008, he began to pivot away from the institutional trading of equities and currencies towards personal financial planning for individuals and he set about obtaining the gold standard CERTIFIED FINANCIAL PLANNER™ (CFP®) designation; allowing him to offer the highest level of financial advice in all aspects of personal finance and portfolio management. After a spell as a financial advisor at the United Nations, he set up his own personal finance and investment management consulting firm, Anglia Advisors, at the beginning of 2016.
Since then, Brady and his firm have played a pivotal role in providing guidance and financial wellbeing to many millennial individuals, couples, and families. Brady’s approach is different from the vast majority of financial advisors who make a living from commissions charged on transactions. A client of Anglia Advisors works with a fiduciary, fee-only advisor who charges hourly fees for personal finance projects (or even one-time flat fee single sessions). These fees, along with optional portfolio management fees, are the only form of compensation to the firm – there are none of the commissions, kickbacks, insurance sales, quotas, referral fees, sales pressure, etc that are all damaging features of most other financial advisors’ business practices and which create incentives that end up benefiting the advisor but hurting the client.
As Brady puts it; “There are fully qualified doctors out there and there are also pharmaceutical sales reps selling medical products. Both are very valid professions in their own right. But if you feel sick and are looking for qualified medical advice, you’d better hope you are dealing with the doctor, not the pharmaceutical sales rep.”
While millennial clients working with Anglia Advisors can access both project-based financial planning on all the specific personal finance issues that they want to have looked at and analyzed as well as optional low-cost professional portfolio construction and management, they also have the option of a single two- or three-hour session for a one-time flat fee which can act as a “jump start” in which they can address just one or two specific personal finance items of the clients choosing, without the immediate need for a high- touch, more elaborate engagement.
“Suddenly Single” millennial individuals that find themselves unexpectedly emerging from the sudden loss of a spouse or partner due to a divorce, breakup of a committed relationship or even sudden death can often find themselves overwhelmed, especially if that individual was not the partner who primarily dealt with the finances during the relationship. Pretty much every aspect of their financial situation can be in motion; investments, real estate, insurance, estate planning, spending patterns, taxes, student loans, workplace benefits, retirement planning, college planning, debt management etc. And very often they are being forced to take very meaningful financial decisions right at a time when they may be at emotional lows and understandably lacking a degree of objective judgement. Anglia Advisors will work empathetically with these individuals, yet in a financially dispassionate and objective manner, so that they can start getting their lives back on track as quickly as possible, proceeding with a clear plan and are provided with a financial accountability partner.
Simon Brady CFP® and Anglia Advisors can be a smart choice for the millennial individual, couple or family seeking experienced, trustworthy, personalized financial planning and portfolio management services dedicated to securing and growing their wealth as well as developing financial security.
You can schedule a free initial consultation with Simon Brady and learn more about his services at https://www.angliaadvisors.com