Ted White, Principal at Arrivity, had an early fascination with financial planning. When I asked him why he chose it as a career, he told me about a newspaper column his parents used to read back in Dallas. “They would talk about Scott Burns and his advice for do-it-yourself investors,” Ted told me. “I started reading the columns myself in high school and looked for Scott Burns in my paper each week even after college.”
With that kind of early interest, it’s no wonder Ted landed where he did. But he had some adventures along the way that also shaped how he approaches his work. Ted may have had an early interest in finance, but his first job out of college was pretty disconnected from personal money management. He started out working as a municipal bond trader and underwriter. When the dot-com bubble burst, friends started asking Ted for investment advice. “I had to tell them I knew a lot about municipal bonds. Not so much about personal investments,” Ted said.
Life is not a straight line
In his mid-twenties, Ted made a decision that would impact the rest of his life. He went to Australia with two good friends – “just for a couple weeks.” Weeks turned into months, Ted quit his job from a payphone in the Australian Outback, and he ended up meeting his future wife on a bridge in New Zealand. And there’s more. After returning, Ted was rehired at his previous company – with a promotion.
“That Australia trip was the most impactful thing I’ve ever done,” said Ted. “It reminds me that life is unpredictable. You have to grab opportunities, and sometimes you need to adjust when things don’t go as expected.”
Another fork in the road came when Ted’s wife (yes, the one from the bridge in New Zealand) completed her graduate studies in Memphis. They decided that Tennessee wasn’t for them and moved to Seattle to find jobs. That was when Ted started to seriously pursue his interest in personal financial planning. He got his CFP® certification which taught him about the importance of focusing on the totality of clients’ financial lives beyond their investments. Ted has been a financial planner now for nineteen years.
What is it about financial planning? “You really have to like helping people,” explained Ted. “Sure, there’s the technical aspect of it – putting the financial picture together – but then there’s the teaching aspect. Money can be a really emotional thing and sometimes we’re like financial therapists or couples’ counselors.”
A holistic approach to planning
Lately, Ted has been recommending the book Die With Zero by Bill Perkins to clients. The idea is that money shouldn’t just be something to accumulate. The purpose of having money is to use it to live life. “There are people who seem so focused on accumulating money, they end up not enjoying what it can do for them,” said Ted. “Financial planning helps people get comfortable with managing their assets rather than letting money control them.”
When Ted transitioned his career into financial planning, there were a couple paths he could take. He found that traditional investment firms can end up costing clients more with embedded fees. But what drew Ted to Arrivity’s fee-only model is the holistic approach that focuses on cash flow, tax planning, and insurance rather than just pursuing high investment returns.
“One thing I like about Arrivity is that we’re really flexible. Clients can decide on what level of service they want, then come back based on their specific needs,” said Ted.
Ted told me he’s thinking about writing Scott Burns, the writer who inspired his interest in financial planning all those years ago and telling him about the impact those columns had on his career. It hasn’t been a straight line from the newspaper to Ted’s window office on Lake Union – it’s the journey that’s made it all so interesting.
Get to know your financial planner. Here are some things to ask:
- What has financial planning taught you about life?
- What books have inspired you?
- What experiences have shaped how you think about money?
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Please contact us at 206.217.2583 or info@arrivity.com if we can assist you or someone you know with financial planning.
Liz is a Late Boomer in the sandwich generation who started an independent writing and brand consulting practice after years as a senior marketing executive. She lives in Seattle, Washington. Her mother lives nearby and her daughter is a recent college graduate.
The foregoing content reflects the opinions or perspective of Liz Behlke and/or Arrivity financial planners and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful. Arrivity does not give tax or legal advice. Tax and/or legal strategies should be discussed with a professional before implementing.