Fundamental of the Week #7: EXECUTE DUE DILIGENCE. Developing the best solution for the client isn’t always obvious and isn’t always easy. Often it requires significant research as well as creativity. Have a bias for thoroughness and do extra work necessary to find the best way to meet the client’s objectives.
Many of the Fundamentals of The Bernhardt Way played a role in the decision to create Bernhardt Wealth Management. Creating a firm that had a fiduciary responsibility (Fundamental #1) to its clients was certainly important. However, this Fundamental perhaps played the biggest role in that decision.
Working for companies that had their own products and services they wanted their brokers/registered representatives to sell was frustrating for me when I knew there were solutions that I wanted to offer but could not. Fortunately, I had friends who encouraged me to make the difficult step of creating Bernhardt Wealth Management.
But EXECUTING DUE DILIGENCE means more than just that. It means discussing issues and possible solutions internally with our financial planning team. And when necessary it means we take the extra step to discuss the unique challenges of a client with our network of experts to ensure nothing is overlooked so the best possible solution is presented to meet the client’s objectives.
EXECUTING DUE DILIGENCE also impacts how the Bernhardt Wealth Management team supports each other. We are always looking for ways and technology that allows us to better serve our clients. And I want each member of our team to support each other in that endeavor. The mantra of “if it ain’t broke, don’t fix it” or “this is the way we have always done it” are not reasons we should not change. If you think there is a better way to do something, discuss it with your supervisor to determine the next steps.