Q4 2020 Quarterly Newsletter

January 2021
By Kathy Longo, CFP®, CAP®, CDFA
Tuesday, 12 January 2021

Q4 2020 Quarterly Newsletter

News From Flourish

We made it through 2020! And we all deserve a feather in our caps just for that. This last year has been the most tumultuous in recent memory, if not ever, and while it came with its share of challenges there have also been some things to celebrate or, at least, reflect upon and appreciate. 

For me, it has been a joy to have my family around more often and the addition of our puppy, Sunny, has brought levity in a time of gloom. The addition of three new employees, Joey, Kate, and Grant, has been wonderful for my firm, our clients and has enabled each member of our team to devote more time and energy to the things we love to focus on professionally and personally. We have added new ways of communicating with our clients and others who value our thoughts and perspectives with the introduction of the Flourish Financially Challenge and Flourish Insights. Please have a listen and subscribe on Apple podcasts, your Alexa device, or wherever you get your podcasts. This project has been rewarding and a learning experience for Jay and myself and we hope you are enjoying it as well. If you wouldn’t mind, we would love it if you would take a moment to rate the podcasts and leave a review. Your review will help us expand our audience and our reach. 

How to Find a Financial Advisor Who Adds a Personal Touch

Your Money is About More Than Dollars and Cents

By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 30 December 2020

How to Find a Financial Advisor Who Adds a Personal Touch

The following article is based on the content covered in my book, Flourish Financially: Values, Transitions, and Big Conversations. If you’d like to read more, you may purchase a copy here.

When considering how to find a financial advisor, there are various methods people employ. However, I recommend finding someone who adds a personal touch to their work. After all, money is about much more than dollars and cents. It’s about our family, it’s about our first experiences with money, it’s about our life values, and it’s about the conversations we do or do not have with the people who influence our saving, investing, sharing, and spending. These conversations are key, but they don’t always turn into “big conversations” because money remains a taboo subject.

I’ve always believed that my job as a financial advisor is to help my clients to have these conversations so they can make the best financial decisions – ones that align with their goals and their values. This means getting to know my clients and how they think about money, both individually and as a couple.

If you want to develop a financial plan that goes beyond dollars and cents, and fits your personal needs and wants, the following steps offer guidance on how to find a financial advisor who will provide a personal touch.

Relationships and Finances: Avoid These Mistakes

Don’t Let Money Come Between You and the Person You Love

By Kathy Longo, CFP®, CAP®, CDFA
Monday, 27 July 2020

Relationships and Finances: Avoid These Mistakes

Relationships, by nature, are fraught with challenges. Busy schedules often mean not spending enough time together, silly arguments about who should do the dishes can build to resentment over time, and jealousy or control issues permeate many relationships. When you add in difficulties related to in-laws or infidelity, things become even more complex.

Despite all these potential troubles, the biggest relationship roadblocks tend to be related to money. Financial disagreements can sink a relationship quickly, so it’s important to go be proactive and work together with your partner to avoid the most common money-related relationship mistakes.

Lose Your ‘Right or Wrong’ Mindset

Perhaps the biggest mistake you and your partner can make is to approach your financial disagreements from a “right or wrong” mindset. You know the one that tells you one of you must be right and the other must be wrong? This type of framework is common since more than 70 percent of individuals have money management styles that are different from their partner’s, but it’s also incredibly destructive.

A World in Transition

During a time of such uncertainty, focusing on the things you can control can lead to better decisions for the long-term

By Kathy Longo, CFP®, CAP®, CDFA
Thursday, 16 July 2020

A World in Transition

If someone had told you at this time last year that you’d be spending your summer reeling from a global health pandemic that forced you to be inside for 12 weeks with every member of your family, an unprecedented economic downturn that will likely result in a recession in the months to come, a civil rights debate that would bring the world into a conversation that needed to be had a long time ago, you likely wouldn’t have believed it. Last year at this time, while things were assuredly not perfect, none of this could have been predicted. 

And that’s the thing about predictions: they are uncertain. Just as we cannot time the markets, we cannot really predict what outside forces will impact our lives, livelihood, and social existence. For all these things we cannot control, though, we can find strength and resilience in knowing that there are things we can control, too. 

Taking Back the Reins

We can control what information we take in as truth. We can control what we eat and drink, along with how we sleep, exercise, meditate, and practice self-care. We can control how we treat others and how our emotions affect the way that we react to the things happening around us. Of course, we have to be intentional about all of these things. Otherwise, we risk falling into patterns that leave us susceptible to poor decision-making. For example, a pitfall we all fall victim to at times: confirmation bias.

Relationships, the Coronavirus, and Big Conversations

No matter what stage of life you are in, now is the time for strong communication and mutual respect in your relationship

By Kathy Longo, CFP®, CAP®, CDFA
Monday, 29 June 2020

Relationships, the Coronavirus, and Big Conversations

Disasters often strike with little notice. Hurricanes Harvey, Irma, Jose, and Maria surprised us with their ferocity in 2017, the Equifax security breach caught us by surprise that same year, and so it has been with the COVID-19 pandemic. Although some public health experts had coronavirus on their radar for some time, the general public was caught largely unaware as this worldwide health crisis forced us to abandon our usual way of life. While these three forms of disaster may seem to have little in common, they have all left financial devastation in their wakes, and they all represent periods of great transition for many people.

Right now, people around the globe are facing anxiety about the future, uncertain job situations, loss of income, health concerns, illness and loss, and lives put on hold. The news media reminds us of the major impacts of the coronavirus – nearly ten million confirmed cases worldwide, more than 20 million jobs lost in the United States alone – but there are a great many other consequences of this pandemic that aren’t making the headlines. Our relationships with one another are changing inside homes and within communities. Times of transition are often marked by confusion and feelings of uncertainty, but these difficulties are compounded when our loved ones are experiencing life transitions at the same time. This is particularly true with regard to our spouse or partner. When left untended, these relationships can become strained even in the best of times, let alone during a global health and financial crisis. Below, I will discuss several strategies for successfully moving through a period of transition while supporting and strengthening your relationship at the same time.

Due to COVID-19, we have begun taking client meetings via Zoom. Please see our instructions below on how to use Zoom and what you can do to protect your privacy while using this technology.

Contact Us

  • 3300 Edinborough Way
    Suite 420
    Edina, MN 55435
  • FAX: 952.953.3310
Listen to the Flourish Financially Challenge on Your Favorite Streaming Service


Copyright © 2020 Flourish Wealth Management, Inc. All Rights Reserved. Powered by AdvisorFlex.