Do you have a financial plan that aligns your investments with the rest of your life goals?
In an economic climate affected by market volatility, political unrest and global financial issues, investors are seeking peace of mind and a clear path to the future.
Investment advisers such as Yvonne Bourk and Lindsay Corbin ant Corbin & Bourk Wealth Management of Merrill Lynch are turning to a new approach called “goals-based wealth management.” They equip their clients with customized financial plans that free them from worry and help them take aim at all their targets in life.
Corbin & Bourk is a Naples-based firm that specializes in serving three types of clients: Executives and entrepreneurs; retirees and pre-retirees; and women. With more than 38 years
of collective financial industry experience, Corbin and Bourk have weathered virtually every type of market, and now they are bringing the goals-based approach to their clients in the Gulfshore area. The partners define the new approach as an evolution in wealth management that moves beyond benchmarks to a far broader approach: developing personalized strategies to help investors identify and pursue their goals.
“We specialize in providing our clients with an experience that goes well beyond stocks, bonds, and asset allocation pie charts,” says Bourk. Many investors are still struggling to regain their equilibrium after the 2008 financial cri sis, and others may be unnerved and anxious about their investments for a whole
host of other reasons. Bourk points out that making decisions based on market elements that are outside of a client’s control can lead to poor outcomes. She and her partner prefer to focus on goals that are personally meaningful to their clients. They use the question, “What do you want your wealth to do for you?” as a starting point to develop a set of “personal benchmarks” for each client in addition to the usual performance benchmarks.
This holistic approach to financial planning has helped Corbin and Bourk carve out a niche for themselves in a field where women are still seriously underrepresented. Bourk says her advice for professional women working in male-dominated fields is embedded in one of her favorite Henry David Thoreau quotes: “Go confidently in define what it means to live your dream. She encourages women to create a tangible plan for the next 18 months and celebrate their successes along the way. Women, she says, are often balancing their career against caregiving for children, spouses, or aging parents and need to be sure to advocate for themselves too. Bourk also recommends finding a mentor you respect, regardless of gender. Best case: “Seek out professional women who are supportive of other women,” she says.
Bourk offers these final words of advice to anyone who is trying to create a successful life: “Be authentic, be brave, because life shrinks or expands in proportion to one’s courage.”