Dear Bernard,

Does it seem to you that when you see a new driver they seem to be about 13 years old?

How about those you receive service from, like pharmacists, waitstaff, clerks at stores, or your children or grandchildren's teachers? I had to visit a hand specialist about a week ago, and the doctor, physician's assistant, and nurse looked like they should still be in college.

I feel one of the signs that we are getting older is how young those we interact with appear to be. I am sure those of us over 55 never looked that young.

Do you think you can trust a professional who is that young looking?

In the financial advisory industry, do you think you could trust a young advisor? Increasingly, in the future you may have to.

According to marketwatch.com, the current average age of financial advisors in the US is 56. When I go to local education and product meetings many times I feel I am still on the "less aged" size.

The Marketwatch article stated that in March 2024, 68% of the candidates taking the exam to earn the certified financial planner (CFP) credential were under 40 — and 37% were under 30.

However, while many may be technically proficient, do they have the life skills to provide qualified advice?

Fortunately for our firm, we have put in place a solution to this problem. Chad joined Benchmark Financial after graduating college and obtained his CFP designation before he was 30. (Yes, his picture needs to be updated.) We have had more than 12 years working together. We feel this time together should put us in place to provide leadership to our relationships without interruption for many years to come.

Marketwatch encourages those looking for a new advisor to ask the right questions. It’s best to ask, “How long have you practiced personal investment management for clients like me?” Then follow up by asking, “Are you a fiduciary? If so, how many years have you practiced as a fiduciary? And how have you charged clients over the years (fee-based? commissions?) — and why do you practice with your current fee model?”

We encourage anyone looking for advice to ask these questions of us as well. We are confident of our position to lead not only today, but for many years to come.

As always, thanks for reading.

Bernie & Chad