Aug. 14 By Alex Eaker
When I think of NPI's approach to working with clients, I think of the two suits I've purchased in my life: the first from a clothing chain that had some nice, reasonably priced suits sitting in the aisles. I wasn't looking to be picky, all it took was a quick stop in the changing room and glance in the mirror to lead to my buying the suit. I got the job done easily, is the point.
For my second suit though, years later, my father took me to his tailor where I was fitted for a custom selection. The tailor was a tiny man with spots on the top of his head and white hair beside his ears that resembled thin pipe cleaners. He was quick and efficient; he pressed the tip of his pencil to his tongue when he wrote down my measurements, and he offered advice in regards to how many buttons and pockets he thought would look best on me for the occasion. The whole thing was a kind of cathartic experience.
All of this is to say: there's something about the tailored approach that made me feel special. After all, everybody is different and thus needs to "fitted" differently. The time and cost to get that customized product is not in vain when you're in search for the perfect fit: just as your suit can be tailored to your wants-three buttons on the sleeve, single vented, loose fit-your financial planner should be able to account for the tastes and needs of every client; from those investing for retirement, or those trying to raise a family, or to build responsibly onto their existing assets; every planner should consider how each client will have different goals, different ways of communicating, different philosophies on their finances. It is not a one suit fits all industry! What I got in that second suit was a much higher quality product that still waits in my closet.
When it comes to financial planning, NPI believes in a tailored approach-the need understand life's many variables. A client's goals, their risk tolerance, and income needs are specific to each individual. This is not a cookie-cutter approach where the advice is always the same, but rather a desire to combine our own value in transparency and in-house macro-themes, based on fundamental research, to create a customized portfolio suited best for every individual client. We custom create portfolios for each our client