My journey to becoming a financial advisor started long ago in a distant land. I was born in Tehran, Iran just prior to the Islamic revolution that devastated my family’s hopes of providing a better life for my sister and I as religious minorities in a hostile environment. After many years and great struggle, my family was granted political asylum and resettled in Austin, TX. We were privileged to become naturalized citizens nearly a decade later.
Growing up, my parents each worked 2-3 jobs at a time and through hard work saved enough money to buy into a restaurant franchise. One restaurant lead to another as I watched my immigrant family who came to the land of opportunity with nothing but 2 suitcases, realize the American dream and achieve an upper middle class lifestyle for our family. I put myself through school working in my parents restaurants and eventually had the opportunity to open my own restaurant franchise concept. I made and wasted hundreds of thousands of dollars and when my parents health faded and they were no longer able to run their businesses, their livelihood abruptly ended. I found myself making many of the same money mistakes as my parents and business owners everywhere which lead me to the realization that I could forever work for my money, or learn how to make my money work for me. That is when I entered financial services industry to help my family and eventually became a financial advisor. My motivation today is the same as when I began my career, only stronger.
Business owners are the most misunderstood, and consequently most underserved segment of the population by the investment community. Throughout the industry, financial advisors are trained to pursue retirees and those nearing retirement as the target market for building their practice, focusing on rollovers from prior employers as the primary asset gathering mechanism. It is a crowded space and undeniable forces are creating massive disruption to our industry and threatening the traditional revenue streams of advisors. Our industry is facing massive demographic shifts and headwinds on the consumer side. Businesses are not experiencing many of these same challenges.
Business owners have tremendous opportunity in how they structure their business, how they pay themselves and other family members employed by the business, how they file their taxes, and much more. A successful business owner does not file their own taxes using free on-line software like the majority of individuals today. Successful businesses actively seek and value professional advice from accountants, lawyers, payroll services, etc...
Through the use of advanced planning and time tested strategies such as tax deductions, tax deferral, tax avoidance, income shifting, favorable capital gains rates, qualified dividends, and employer paid benefits, business owners can greatly increase their take-home pay and add incremental returns without introducing risk. In fact, most of these benefits are known and can be calculated in advance by their most trusted advisor, their accountant. That is why the first meeting following the initial client meeting is with their accountant who will verify the validity of the strategies and help calculate quantifiable benefit and thus elevating the recommending advisor to a high level of trust from the onset.