Are You Being Held Hostage by Bad Advice?

Calgary Retirement Planning

On August 23rd, 1973 two machine-gun carrying criminals entered a bank in Stockholm, Sweden. Blasting their guns, one prison escapee named Jan-Erik Olsson announced to the terrified bank employees “The party has just begun!” The two bank robbers held four hostages, three women, and one man, for the next 131 hours. The hostages were strapped with dynamite and held in a bank vault until finally rescued on August 28th. 

After their rescue, the hostages exhibited a shocking attitude considering they had been threatened, abused, and even feared for their lives for over five days. In their media interviews, it was clear that they supported their captors and actually feared law enforcement personnel who came to their rescue. The hostages had begun to feel the captors were actually protecting them from the police. One woman later became engaged to one of the criminals and another developed a legal defense fund to aid in their criminal defense fees. Clearly, the hostages had “bonded” emotionally with their captors.

Are you emotionally and psychologically attached to an awful advisor? We see it all of the time. Clients come to us and pay us an hourly rate to go over their finances and to get some direction on their retirement planning. We show them that they are already paying between $6000 - $12000 each year for investment advice with their current advisor, yet they don't know how to leave. Are you getting on-going investment advice? How about tax and estate planning? Are you getting help on what to do to prepare for taking retirement income from your portfolio? And, how about return on your investments? Last year the TSX was up 20% and many people still lost money in their accounts. Did you? How could that happen? 

Your advisor is asleep at the wheel. He never looks at your accounts. Has no clue what to invest in or what asset mix you should be in now due to changing global economic conditions. He just puts your money in the "flavour of the week" fund that was being promoted the week you happened to first meet with him. It doesn't matter to him. He made all the commission up front. This is why he never calls you or even returns your calls. But you can't leave. You won't leave. It'll kill him if we leave. He's a friend of the family. We have been there so long. He's a nice guy. It will be too uncomfortable. I think he is retiring soon, we'll just leave when the next person takes over. HELLO? What!? This is YOUR retirement nest egg you're talking about remember!? 

It's very sad and lately, we see it every week. We also wanted to be nice and never say anything negative about other advisors but we're seeing such atrocities that we just can't stay silent anymore. It's worse than we thought. This is an epidemic! There are so many bad advisors out there yet people stay with them. It's shocking to us. Your retirement security lies in their hands and you are allowing yourself to be victimized with your commitment to a barely-existent relationship. Instead of doing what is best for you and your future, you allow yourself to be held hostage to what is best for your advisor, or is it really due to your Canadian niceness? After all, you feel sorry for him. He has a medical condition and if you leave him, well, it may kill him. (He hasn't talked to you in 6 years so I doubt it.)

You know you need out. You know you're not getting the advice you need. We know it too. We see it. As you sit across the table from us at our office writing a cheque for the time you just spent with us. You feel like a two-timing cheating lover who has found comfort in the arms of another advisor. We both make sure no one knows about our meeting. It's our little secret. 

How do we feel? Like your mistress. But, we wait for you to see the light of day and fire his ass. We wait for the email or call from you declaring that you are leaving your elusive advisor and taking control of your retirement. 

Stop torturing yourself! It's time to do what's right for you and your future.

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Your Retirement Income Specialists,

Willis & Nancy

Office: 587-755-0159

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My wife and I realized a long time ago the value of a financial planner over just a bank representative. We just felt like a number to the banks as every year it seemed we saw a different adviser with a different view. But finding a trusted, knowledgeable and personable financial planner took a lot of time and effort. It just seemed, so many large corporate Financial Planners were more concerned about what they could make off of us rather than what they could make for us.
What we wanted, was not just reasonable returns now, but good personal advice in our preparation for retirement and what happens when retirement actually arrives. We wanted someone who would be walking with us, guiding us on our way to retirement.
From the first time, we found the web site for Langford Financial Inc, we could see the knowledge of Willis and Nancy and a real effort to educate and pass on their knowledge through seminars, workshops and their personal service. Once I reached out through their web site for more information, Willis was quick to respond, offering and giving whatever information I was looking for and never was there pressure to commit to anything.
The feeling of comfort and ease when talking with Willis was inviting enough for us to want to meet with Willis and Nancy, just to see firsthand if there was a connection and what working with them would look like.
And when we did meet for the first time, that feeling of comfort and ease was very evident. It was a unique experience for us to be able to sit down and get to know a financial planner (or a team of both Willis and Nancy) and not have any sales pressure on us. Just getting to know Willis and Nancy was important for us. We needed to be comfortable with them and see their competence in the business, and it was obvious that Willis and Nancy wanted to know us better so they could know how best to help us.
Once we decided to move our accounts over to Langford Financial, we found their process was comforting and refreshing as Willis and Nancy first worked at evaluating our complete situation. They dug down to get a complete picture of where we were at, where we wanted to be and how to get there. This took some reflection on our part but once we saw how they put it all together in our “Financial House In Order” binder, we were confident we made the right decision to go with Langford Financial.
Since the time we started working with Willis and Nancy I have attended many of their seminars and can say the information they have been teaching has been amazing. Always relevant, and consistent with their desire to help those coming up to retirement, and covering so many different situations as everyone has a different life situation. I know more than one of the tax-saving strategies they taught at their seminars will work for my wife and I, so we are very happy about that.
We would definitely recommend Langford Financial, not just for all your retirement planning needs, but they have great ideas on savings for your grandchildren too!
Paul and Elaine Radder

Paul & Elaine Radder
Long-term Clients

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