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Interactive Tools To Plan Your Financial Future With Paul Jarvis

Photos by Paul Flessland
Feature photo is of Paul Jarvis, Managing Director at United Capital of Fargo

I love my job.

As managing director of United Capital in Fargo, I feel very fortunate to be able to help individuals and couples plan their financial future so that they can successfully fulfill their life ambitions and achieve a secure and comfortable retirement.

One of the ways I facilitate this for my clients is to utilize a suite of interactive tools that United Capital has developed, which allow me to engage with them on a deeper level.

These tools are designed to encourage discussions about financial subjects that may not have been previously explored and to answer questions that may not have been previously asked.

These discussions help my clients better understand the role that money plays in their lives and how that money can better serve— and be better aligned—with their personal goals and values.

About Me

I was recently invited by Fargo INC! to create a series of columns about financial planning, and I aim to educate and empower readers with relevant content and tools. I am grateful for the opportunity, and I thought it might be helpful for readers to know a little bit more about my background.

A proud hometown boy, I was born and raised in Fargo before attending the University of St. Thomas in St. Paul, Minn., where I earned a bachelor’s degree in business law and English.

After graduation, I went to work for a large bank in the Twin Cities, where I was actively involved in providing financial-planning services to individuals working at major corporations such as 3M and Andersen Windows.

Making the decision to return to home, I went to work for a Fargo trust company, where I had the opportunity to manage investments for higher-net-worth individuals and companies, as well as learn more about the value of trusts in estate planning.

Eventually, I decided that I wanted to start my own practice, and I consider myself fortunate to have discovered United Capital. I wanted to align myself with a company that utilized cutting-edge technology, interactive scoring processes, and priority-action lists as means of providing clients with comprehensive financial planning and guidance services.

Today, life is good. Last year, United Capital of Fargo was the fastest growing office in all of United Capital, and, based on local demand for guidance, I expect that growth to continue.

Financial Guidance

When I start working with a client, together we ask and answer questions such as: What is your relationship to money and what does it mean to you—both personally and as a couple? What are your individual and collective goals? How can we get your money to fulfill those goals now and in the future?

For my clients, these discussions are often an exercise in self-discovery, but they also provide me with the information I need to serve them more effectively.

The two most popular tools we use are called Money Mind and Honest Conversations. They are proprietary processes that United Capital has developed to facilitate discussions around money and planning so that advisers like myself can offer my clients more-informed financial guidance.

01. Money Mind

The Money Mind analyzer provides clients with a deeper understanding of how they feel about money. It’s designed to identify the fundamental lens through which clients view the subject of money, and, based on that lens, how that can affect their decision making processes.

Financial Future

There are essentially three types of Money Minds: Fear, Happiness and Commitment.

Fear

Fear-based Money Minds are “protectors.” They are motivated by a desire for security and peace of mind, but they seldom ever achieve it—no matter how much success they attain. They typically live within their means and are cautious decision-makers, but they are usually slow to act, which means they often miss out on genuine financial opportunities.

Happiness

Happiness-based Money Minds are “pleasure-seekers.” Their primary focus is to enjoy today. They are generally not concerned about the future, and so asking them to save for it arouses feelings of frustration and impatience. However, since they don’t spend much time evaluating their financial decisions, there can be serious, long-term consequences as a result.

Commitment

Commitment-based Money Minds are “givers.” When making a financial decision, they mainly care about how it will affect the people they love. However, because they are so focused on their loved ones, they often fail to consider how their financial decisions will impact their own lives.

Once a client’s Money Mind has been identified, they are usually capable of making better decisions about how they manage their finances.

Discover Your Money Mind

To discover your Money Mind, please visit our website – findyourmoneymind.com.

02. Honest Conversations

The goal of the Honest Conversations exercise is to help clients uncover the deeper motivations that influence their decisions about money. It’s designed to stimulate a candid discussion about what’s really important to them and what they want their money to do for them.

First on an individual level and then later as a couple, I help clients to identify and clarify their personal and collective goals. I also help them to understand that every financial decision is a trade-off—more of one thing usually means less of another—so it’s vital to establish well-defined goals and priorities and then to construct a plan to achieve them.

As an adviser, it’s my goal to help every client lead their ideal financial life.

United Capital of Fargo

UnitedCp.com/ND1
109 Roberts St. N, Fargo
701-293-2076

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Written by Paul Jarvis

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