As you may have heard, we recently welcomed Michelle DeRouen, MBA, CSA, Senior Financial Advisor, to the Kore Financial Group team. Michelle is a seasoned advisor who has worked in the field for more than 20 years. We are thrilled she chose to join us, and you can get to know her more in this month’s blog. Michelle can be reached at our New Iberia office!
What inspired you to become a financial advisor, and what do you love most about your job?
My dad, Lynn DeRouen, who recently retired, inspired me to become an advisor. He’s always been a financial advisor and an attorney. Growing up, I saw him genuinely helping people by assisting them in pursuing their financial goals. It has always inspired me to see him making a difference in people's lives.
My favorite part of being a financial advisor is being part of my clients’ financial journeys. For example, I will hear what they envision for their retirement, obviously years or decades before they retire. Knowing I played a part in seeing hard-working people achieve their dream retirement and live happy lives is very rewarding.
Can you share a pivotal moment in your career that shaped your approach to financial planning?
I vividly remember a client who came to us after working with an advisor at another firm. I saw the products they’d purchased through the former advisor, and it was devastating, as I didn’t feel those products aligned with their financial goals.
Sometimes, in our industry, advisors make recommendations just to make a profit; however, my philosophy centers around offering trusted advice, guidance, and suggestions tailored to clients’ goals while making their needs paramount.
How do your personal values influence your financial planning practices?
I am very family-oriented, and growing up as an only child, I have spent most of my life around older adults. Being able to work in a profession centered around finances helps me provide a safe haven for tough questions about money and the economy and educate others, particularly seniors, on the potential pitfalls of scams in the world.
I am also passionate about charitable giving, so I enjoy helping others incorporate giving into their financial plans. It’s important to me to show people how they can support charities or causes close to their hearts and implement strategies that make it work for their finances.
Finances can be a sensitive or uncomfortable topic for many people to discuss. Why do you think many people avoid talking about their finances, and how can they overcome that fear?
Finances can make us feel vulnerable and scared. People often think they don’t have enough money to discuss it or are embarrassed because they think financial advising is just for the super-wealthy, and this could not be further from the truth!
To help people overcome their fear, I forego the traditional desk and chairs or conference tables in my office and instead have a sofa, coffee table, and comfortable chairs. You’d be surprised how much more relaxing a living room setting can be for clients to create a vision instead of only talking numbers and account values.
As a financial advisor, I am more interested in a client’s or prospective client’s goals than what they have in any specific account. Of course, we will get to the accounts as part of the planning, but the first step is listening and hearing how to help. If someone goes to a financial advisor and the first thing they want to know is what they have in their accounts, that should be a sign to find another advisor! A good advisor will take time to know you, your family dynamics, and what makes you happy and hopeful, which is the crux of the advisor/client relationship.
What are your three favorite financial planning strategies?
- When it comes to investing, it’s a marathon, not a sprint. Invest for the future, not just tomorrow!
- Tax loss harvesting! I love helping clients offset investment gains by leveraging them against any that may have underperformed. It’s a great tool that can make your money work the best for you.
- Communication in all facets of life so that we, as financial advisors, can help you know what is financially doable and what is not so you can live with a strategy in place, helping give you peace of mind.
We are thrilled to welcome Michelle to the Kore Financial Group team! To reach Michelle or any of our advisors offering cohesive, centralized financial planning for all, feel free to schedule a meeting.
Investments are subject to market risks including the potential loss of principal invested. While tax loss harvesting can be a valuable strategy, its effectiveness depends on your individual financial situation and tax circumstances.