What does “peace of mind” really mean?
We believe it means knowing that you won’t outlive your money, your loved ones will be taken care of when you’re gone, your hard-earned funds will be protected by a good plan, and that you have a financial partner that won’t be in the news every other day for something they did wrong. We believe that’s what it means to be a fiduciary and a partner with the added bonus of giving you “peace of mind.” Someone you can trust. Someone you can depend on in the good times and bad. Someone who won’t pressure you with dishonest sales tactics or put their own interests above yours. We believe that’s what managing your legacy is all about! And we don’t take that responsibility lightly.
At ONST, we have over 250 years of experience in taking care of our clients and making sure their wishes and needs are fulfilled. We make sure there are no incentives to do the wrong thing. Here are two examples of how we go above and beyond to take care of our clients:
We had one client whose husband had always taken care of her and their finances. He passed away and left her his life savings, which was enough for her to live on, not enough to live a lavish lifestyle. She was very hard of hearing and had never learned to drive. She took the bus and walked wherever she needed to go. She had one daughter who lived out of state but they were not very close.
At least once a week, she would come to the office just to let us know she was alive and well. She continued her normal lifestyle for several years and all was well. However, as she aged, she reached a point where she was not able to take care of herself as well.
We were concerned for her, so we visited her at home and saw she hadn’t gone grocery shopping or eaten in too long. We immediately bought groceries for her and stocked her kitchen. She was surprised and very thankful for the much-needed supplies.
Eventually, she had to move to an assisted living facility. We visited her often and would bring her a BBQ sandwich from her favorite restaurant, just because we knew she would appreciate it! This isn’t the normal course of duty for us, but what is normal is the care we take with each of our clients. This is just one example of the customer service and peace of mind that comes with having a financial partner whose core values are to care for its clients and meet their needs.
Just the other day we met with a client who needed help with estate planning. He has two children and wants to make sure they are taken care of when he’s gone. We had a long conversation about his life and the legacy he wants to leave for his children.
He said he felt he was trying to control them from the grave. We explained that the difference between controlling and protecting was that he couldn’t control what they did with the funds they received, however by naming us as Trustee he could have the peace of mind knowing we will be around to ensure his children are taken care of.
This really resonated with him because his children are not great at managing money. He loves them both dearly but is afraid they are not capable of handling the legacy he will leave them. He felt much better knowing we will always be there to listen to his children’s needs and manage the funds as he instructed. That’s peace of mind!