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CSLP 5: A Holistic Financial Advisor’s Success Story

A True Holistic Financial Advisor Success Story

We hear a lot of stories about financial planning practices and how they are all about building plans for life. Unfortunately much of the language is similar from company to company. They all seem to make the same bland promises. But in today’s episode, you’ll truly hear a different story.

In this episode of the CSLP Podcast, we are pleased to have David Hessel who is a financial advisor with Global View Capital Advisors in Milwaukee, Wisconsin. David shares about how his practice took off when he began to address the segment of clients with student loan debt. He shares personal experiences of the joy in helping people who thought their situation was hopeless.

David also talks about the eye opening experience of getting started with the CSLP Program and some of what he learned.  During the episode he chats with Jantz Hoffman and Heather Jarvis about some of the misconceptions financial advisors have about working with clients who are repaying student loans.

Topics Covered

  • David’s view of the CSLP program and how it helps his marketing efforts.
  • Why he focuses on a particular market segment in healthcare
  • What he learned in the CSLP program that he was surprised about.

Section Highlights

[00:00:31] David’s approach to advising holistically by incorporating student loan debt in the financial planning process..

[00:01:10] David’s background as a financial advisor and his focus.

[00:02:35] The problems that many financial advisors create by recommending payoff without full analysis of options that would free up investment dollars for greater benefit.

[00:04:20] Student loan complexity.

[00:04:49] Attempting to advise but with challenges due to the complexity of couples, multiple loans, community property, etc.

[00:05:45] Why the CSLP helps to devise a strategy for student loan repayment that melds with the master financial plan.

[00:06:58] Creating the holistic plan. Avoiding major mistakes. Planning for retirement and student loan repayment.

[00:07:54] About the coursework in the CSLP program. It’s difficulty, benefits. The CSLP designation exam.

[00:08:58] Goal of CSLP creating a meaningful, value-focused product to help financial advisors.

[00:10:12] The situation with many early career advisors in growth mode. The advisor challenges with marketing and generating business.

[00:10:38] The CSLP as a marketing tool to grow business.

[00:11:16] How the CSLP program increased referrals.

[00:12:29] The satisfaction of helping people where they need it most – their student loan debt.

[00:14:21] Building trust. How the student debt affect bleeds into the other financial areas.

[00:15:03] Client success stories.

[00:19:36] What was gained in the CSLP program. Pre and post course impressions.

[00:20:28] Get the experience and information or find a referral source who knows the issues clients face with student loans advising.

[00:21:38] Building connections with CPAs.

[00:23:38] Methods of handling tax filing status to benefit the client couple with student debt.

[00:25:44] Important advice to student loan borrowers.

[00:30:16] How the program helps the financial service practice. The CSLP is a tools that fits into the financial plan of a financial service practice. It provides direct help to the marketing and client servicing process. “A life changing process”.


David’s web site: https://www.davidhessel.com

David’s LinkedIn here

Recent Episodes

  

CSLP 10: Ryan Frailich, CFP, Deliberate Finances

CSLP 9:The GAO Report and Student Debt

CSLP 8: Carli Coyne, Centerview Wealth Advisors

CSLP 7: Patti Hughes, CFP, CPA

CSLP 6: Meagan Landress, Financial Coach

CSLP 5: David Hessel – Holistic Financial Advising

CSLP 4: David DiPinto, CPA

CSLP 3: Heather Jarvis on Student Loan Advising

CSLP 2: Jantz Hoffman

CSLP 1:  The CSLP Program Formed to Help


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