Being Prepared for Disaster
August 15, 2018
How to Turn Your Side Hustle Into A Business
August 16, 2018
The old saying is that a penny saved is a penny earned.
But wealth management companies can do you one better than the adage. The magic of their business is that they can turn that penny saved into a penny plus a couple more, which often turns into financial security for you and your family into the future.
Open for more than a decade, DL Wealth Management continues to help folks in the Houma-Thibodaux area invest and plan for the future. In addition to the Houma office, the business will soon expand to
Thibodaux — the old stomping grounds of co-owner Toby Lafont and Financial Planner Nolan Dumas, who are both former football players at Nicholls State University.
“The downturn in the local economy did not affect our business,” Dumas said. “We did meet with a lot of people who were, unfortunately, laid off and we helped them make the best financial decisions for their future.”
The team at DL Wealth Management said one of the biggest keys to investment planning is to understand that every situation is different and there are no two cases that are the same. The financial team can assist with investments (bonds, common stock, educational IRA, Roth IRA, Traditional IRA, Treasury Notes and more), as well as financial planning (retirement plans, estate plans, 401(k) planning, college plans, profit sharing plans, wealth transfer and more).
Dumas said the key to success as a financial planner is not unlike the keys to success in other businesses. He said one must be diligent, put the customer first and create a friendly, client-centered experience — one which forms a healthy relationship between the planner and customer.
DL Wealth Management said it takes great pride in doing exactly that, boasting several long-time clients, while also staying active in community events.
At the office, the financial team stays upbeat and maintains positive energy throughout the day to set the tone inside the walls.
“The truth of the matter is that I am in the human nature business,” Dumas said. “Investments are only part of how I help people. The No. 1 way our team ‘protects’ our business is to deliver a great client experience. All of our client relationships are built on three things: trust, respect and always doing what’s best for our client. Those three things can withstand whatever the economy or markets bring our way. I build those relationships by first getting to know our clients on a personal level: who they are, where they’re from, where’d they work, who are their children and grandchildren and so on. In our world, clients become friends and friends become clients.”
And that trust pays off for the customer — literally.
Dumas said the importance of financial planning is great — so much so that it’s hard to fully put into words. He said people ought not to be shy. If they have questions about the business, schedule an appointment and find out how they can help.
Most customers find out that the future they want is a lot closer to reality than they realized and that a few simple moves can be made to see it into existence.
“It’s very important,” Dumas said. “It has been my experience that the majority of people I visit with have a general idea of what type of shape their finances are in, but they aren’t 100 percent sure. The uncertainty creates anxiety that moves to other areas of our lives and can end up negatively affecting our relationships at home, work and everywhere else. That isn’t the ideal life for most people, but the good news is that our financial futures are 100 percent in our control, because we live in the greatest country in the world that gives us the freedom to choose what type of life we want. If we take the right steps along the way, we all can have the future we want and that’s exciting.”
And what’s even more exciting, according to Dumas, is that a plan can be made for everyone of any budget. At DL Wealth Management, investing can be done for anyone — even the beginner or someone on a fixed budget.
Like anything else in life, the more one invests, the more interest will accumulate and so on. But Dumas is quick to remind folks that the big nest may have once been a small nest that slowly gathered steam over time.
“Albert Einstein said, ‘Compound interest is the eighth wonder of the world. He who understands it, earns it. And he who doesn’t, pays it,’” Dumas said. “I like to use that quote and the mental picture of getting a snowball starting rolling down a hill to explain compound interest. At first, the snowball fits in the palm of your hand. But what happens after you get it started and it keeps rolling and rolling and rolling down the hill? It picks up more and more snow and gets bigger and bigger and that small snowball can turn into a massive avalanche. … You can start with a small amount of money, consistently add small amounts over time and eventually, that small amount you started with can grow into a sum that you can use to meet your financial
goals.”•
BY CASEY GISCLAIR
