With the new year comes resolutions to get your finances in order. This week we are featuring Tom Gillund, a financial planner with Morgan Stanley.
Team Lucky Duck: How did you get started as a financial planner?
Tom Gillund: Being a business owner myself, I saw the values of strong financial planning. So three years ago I made a career out of it.
TLD: Why Morgan Stanley?
TG: The importance of my work is to be at a place that has a wide variety of options for clients regarding their investment opportunities. Morgan Stanley has strong research and development to provide clients with clear and concise data to make the best decisions. It also helps that they are a world renowned company and can support clients with all different types of needs.
TLD: Who are your typical clients?
TG: I have typically have three types of clients. First are people in their 50’s who want to have a strong financial plan going into their retirement. Next are those in their late 30’s and 40’s who may have made a job transition and need help consolidating their investments into a strong strategy that helps them meet their goals. Lastly are the young professionals looking for advice on how to build their wealth over the next 20-30 years.
TLD: What are the most common questions or issues people face financially?
TG: Not knowing how to put together a financial plan that will help them meet their needs. People rarely understand what they’re doing and need guidance as they’re learning to invest.
TLD: What is the best pice of financial advice you can give?
TG: Understand your monthly expenses and then build yourself a small savings to protect those. Then think about investment. The most important piece of investing is time so the more time you have, the better your return will be.
TLD: What is the process like to meet with a financial planner such as yourself?
TG: Initially we set up 1-3 meetings. The first is to get to know each other so I can understand your goals. The second and third meeting lets us review a financial plan and strategies you can implement that will help you reach your goal.
TLD: What should one have prepared prior to the first meeting?
TG: Have a statement for all of your assets and liabilities. This includes 401Ks, bank statements, mortgage balances etc. It’s important to have the whole picture to know where to begin.
If you would like to talk to Tom about any financial questions, you can contact him here. A big thank you to Tom Gillund of Morgan Stanley for taking the time to answer our questions and for being a great financial resource!