Your Personal CFO: The Value of a Trusted Financial Advisor

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David E. Stone Explains the Importance of Having Your Own Personal CFO on the Mike Gray Real Estate Hour

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David E. Stone, CFP®, ChFC®, CLU®, CRPC®, and registered representative of Lincoln Financial Advisors, discussed the value of a trusted financial advisor as a special guest on the Mike Gray Real Estate Hour on AM 1380 The Answer on December 3, 2016.

Many Americans use the end of the year to reassess their financial goals, and Stone stresses the importance of a comprehensive financial plan that does not rely on one source of income, but takes into account a person’s full financial picture, including investments and insurance.

Stone offered several tips for finding a trusted financial advisor. He encourages people to look for a financial advisor with a “helicopter approach,” looking over the entire financial situation and considering both the details and the big picture of a family’s finances. Secondly, Stone advises finding someone who act as a personal CFO, helping oversee all financial matters comprehensively. People should also look for a financial advisor with experience collaborating with other financial professionals – including specialized insurance agents, attorneys and CPAs – to ensure that no detail of the financial plan is overlooked.

Above all, clients must trust their financial advisor. Financial matters can be highly personal and involve family and business considerations, future goals, and past mistakes. Finding a financial advisor with whom an individual can feel comfortable discussing these topics and creating a long-term plan is paramount.

“Many people misunderstand the purpose of a financial planner, so we created this concept of a personal CFO,” says Stone. “People envision a CFO as a chief financial officer managing all of the finances within a company, but why shouldn’t individuals and small business owners have a personal CFO who build and stewards their entire financial picture?”

Stone has been in the financial services industry for 24 years. He recently authored and published, The Power of a Plan: How a Personal CFO Can Help Business Owners & Professionals Prosper.

He is a graduate of California State University and Brigham Young University, and a member of The Financial Planning Association® Sacramento. He is a Certified Financial Planner, Chartered Financial Consultant, Chartered Retirement Planning Counselor.

Stone’s office is located at 1013 Galleria Boulevard, Suite 270, Roseville, Calif.

About Lincoln Financial Network
Lincoln Financial Network is the marketing name for the retail sales and financial planning affiliates of Lincoln Financial Group and includes Lincoln Financial Advisors Corp. and Lincoln Financial Securities Corp., both members of FINRA and SIPC. Consisting of almost 8,500 representatives, agents, and full-service financial planners throughout the United States, Lincoln Financial Network professionals can offer financial planning and advisory services, retirement services, life products, annuities, investments, and trust services to affluent individuals, business owners, and families.

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Kathy Vega
Lincoln Financial Network
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