Brittany Anderson is president and partner of a top-ranked financial planning firm, Sweet Financial Partners. Since joining Sweet Financial Partners in 2008, her goal has been to help create a well‐oiled machine so the entire team can focus their days on creating an exceptional client experience.
Russ Prince: Can you tell us a little about your firm?
Brittany Anderson: While it may not seem likely that a small firm located in rural southern Minnesota would attract high-net-worth investors from across the country, that is exactly what Sweet Financial Partners does. Founded in 1979 by Bryan J. Sweet, the professionals at Sweet Financial have expanded the firm’s capabilities from basic wealth management to helping people pursue their version of an ideal retirement. Our team of 15 work diligently to attract those focused on using their money to pursue their biggest dreams for the future.
Tax efficiency, a variety of investment vehicles, and a long-standing history of helping people retire well every day are all important aspects of what we do. What may come as a surprise to other advisors is that this is only a small portion of what has made the biggest impact on the lives of those we’ve served and the success of our business overall.
In the past, a savvy investment and wealth preservation strategy may have been enough for a seven, eight, or even nine-figure investor to move forward with an advisor. However, in today’s environment, that is simply not enough. With recent years being filled with vast amounts of uncertainty, people are searching now more than ever for purpose and the ability to leave a lasting impact for future generations.
Our team of advisors has found that people often spend a vast amount of time and energy making decisions around the accumulation of their wealth. There comes a pivotal point in a person’s life where they have to start making decisions around what they are retiring from and what they are retiring to. The “from” is simple. The “to” is often not. This is why we created our four-step planning process, The Dream Architect to help people put purpose behind their years of accumulation. Even the wealthiest of people are often searching for their definition of fulfillment. These people need someone in their corner helping them realize all that is possible for their future and legacy.
Prince: Would you please tell us about The Dream Architect?
Anderson: Our team has worked diligently over the years to bring the founder’s vision to life. The Dream Architect process has helped hundreds to create their own definition of success through a simple, methodical, yet incredibly impactful four-step process. Today’s investor can create their ideal future using the following method.
Step one is vision. When talking to clients, we ask, “Where are you now, and where would you like to be? As you review your financial affairs, identify what’s most important to you and the future you envision for yourself, your family and your legacy.”
Step two is blueprint. To build dreams, we must first have a blueprint to map out what matters most to our clients and why. Utilizing tools like risk assessments on portfolios shows the potential impact of market scenarios and can help clients to see that even in the worst-case scenario, their dreams may not be out of reach.
The third step is build. Once we have deep knowledge and understanding of our client’s vision and blueprint, it’s time to build the plan. We will create an implementation schedule to help increase the likelihood that our client’s investment objectives are met. The goals and dreams are unique to each client so each build is tailored to that client’s values and vision of the future. This is intended to create a plan to live by every single day.
The fourth and last step is maintenance, which is arguably the most important step, our clients meet on a predefined schedule with us to share updates, revise the customized blueprint and help ensure it remains aligned as their goals, dreams and financial situation evolve.
Prince: Looking forwards, how are wealth advisors going to succeed?
Anderson: In today’s competitive environment, successful wealth advisors are forced to upgrade their capabilities and expand their service offerings for clients. While having a framework or differentiated process for clients to follow is important, for the advisors of the future, that may not be enough.
We are looking hard at the health and longevity space. With the advances happening in the medical space, we are looking at a pivotal time where life expectancy is set to continually increase. The high-net-worth investor in today’s world and beyond is looking for a team of advisors who can help with all aspects of their life. In essence, the family office approach.
Our focus is on bringing together wealth, health and experiences, all under one umbrella. The goal is to introduce more and more people to professionals who can help them enhance their quality of life in each of these areas.
While the theme of The Dream Architect may not be suited for everyone, the point is that advisors of the future need to spend time deciding where they can make the biggest impact for their ideal clients. Be it a defined process, an expanded professional network or cutting-edge investment strategies, investors of the future are going to be looking for something that speaks to their deepest levels of fulfillment.
Russ Alan Prince is the executive director of Private Wealth magazine and one of the leading authorities in the private wealth industry. He consults with family offices, the wealthy, fast-tracking entrepreneurs and select professionals. Connect with him on LinkedIn.com.