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  • Writer's pictureSimon Zryd

Wealth Management Solutions with Kathleen Bowen CFP, CLU, ChFC

Sharon: Hello, everyone, this is Sharon, and I'm here today with Kathleen Bowen. Hi, Kathleen.

Kathleen: Hi, Sharon. Good morning.

Sharon: Good morning. Kathleen is the founder and president of Mind's Eye Resource Management. Really looking forward to talking to you today, Kathleen.

Kathleen: Thank you, Sharon. And I'm happy to welcome you into the room that I do most of my big picture thinking outside of my office. So welcome. Good morning,

Sharon: Awesome. Good to be here. You know, Kathleen, you have been in your industry longer than any woman I've known, so I'd love to get started today with you just sharing a little bit about your start in the world of finances and being really a pioneer as a woman in the industry. Anything you want to share to kick us off today.

Kathleen: Well, thank you for acknowledging that, because certainly it hasn't been the easiest of challenges. But in September of 2021, I will be coming up on my thirty ninth year in financial services. To give you some, for the our audience out there, some perspective on thirty nine years in the business; the famous Jim Cramer of Mad Money on CNBC and I started the same year in the business. So it has been a long and winding road, exciting without a doubt, and really a rewarding career to go through the hurdles and the peaks and the valleys of what it takes to have long term success in the in the financial planning and wealth management industry.

It's sort of ironic as well, with Women's History Month coming up, I'm certainly proud to be part of the legacy of wealth management and planning for my clients. I find that there's really no greater honor than to have and instill the trust and capabilities of managing as a partner with clients and their family members as a wealth manager along their personal journey. So it's really been a unique and rewarding career. And we love what we do. And we feel after this length of time and a dedication to our industry, that we're really pretty good at it, too. So I always tell people to try and find to what they do and love what they do, if it's possible.

Sharon: Well, your your passion for what you do and your your care for your clients really shines through, which is so incredible after all these years, I never feel like a whiff of burnout or or frustration from you. So, I think that's incredible to be able to say that after all these years.

Kathleen: Well, thank you. It hasn't been without taking lots of deep breaths and we have really experienced maybe half a dozen plus major market declines. And the beauty of being here in America and in a capitalistic sort of business, entrepreneurial and successful-all type of attitude, we try to represent all walks of life and try to be able to offer financial planning, advice and education with clients so that they, too, can live their American dream. So balance is a big part of that. If you put all your focus on money, you're not going to be able to enjoy your journey. If you put all your focus on daydreaming about that journey, you're not going to be paying enough attention to your money. So it's a great balance and it is different every day, week in and week out. So it keeps us refreshed and it keeps us exciting as it relates to the products and services we offer. Relationships are the key to everything we do, and by finding a dozen, 15 client new clients every year, we're able to continue to evolve and expand that client representation, bringing what we think are best of breed of products and services, collaborating with attorneys and accountants, or finding enough Certified Financial Planners and CPAs to be able to bring our clients the products and services they need to meet their goals.

Sharon: Thank you for sharing all of that. So back to the need to be taking some deep breaths. It has me think about the volatility in the marketplace over the last couple of years. And would love to hear how you're supporting your clients with that.

Kathleen: Well, and that's a great question, Sharon, because the dynamics of the marketplace really is an emotional sort of experience that everyone has a different relationship with, some people are very involved and attached in the process of building and managing their money in partnership with my firm. And other people are trusting and really patient and take the longer term view the way we allocate money through our customized process with each client, we allow clients to have peace of mind, to be able to know that money that's needed in the short term three to five years is very liquid and in relatively safe investments. Midterm money five years to 10 and a little bit longer is balanced with both equities and bonds. And then our longer term money, whether it's your 401k at work, a pension plan or profit sharing that you participate in or longer term money that you're building for an eventual retirement, you'll know when market dips and volatility happen that your money is in each allocation for a specific reason. So, patience really is the key to what we try to express to clients. Confidence in the old philosophy that this, too, shall pass. Again, our history is American free market capitalists were able to rebound and really have faith in what's going to happen in our future long term.

Sharon: Really important. I appreciate that perspective when I think about your firm. I know there's a lot of big firms out there, big names that people are familiar with. What would you say distinguishes Mind's Eye from, you know, maybe working with one of those big well-known firms that people see advertised on on TV or LinkedIn or wherever?

Kathleen: Sure. That's another terrific question. And not only are the big firms being represented quite a bit through the media and television and streaming services, but the new startups of Robinhood and Betterment and some of the do it yourself type investing strategies for younger and more experienced people are definitely sort of partners that sit alongside of of our firm being a focus customized wealth management practice. I've spent 16 years of my thirty eight with large firms in New York City and lived and worked in Manhattan. So I have my experience of the large firm mentality and approach to things. And while a good deal of them are fine, really upstanding firms, there is a difference between being totally independent and working one on one with an advisor that customizes everything. And that goes back to this Robin Hood and betterment innovation that's happening in the businesses. That model strategies are most often recommended and it's a one size fits all approach. So, you might have a conservative model, a moderate model, a growth model and then an aggressive model. Well, you just might not fit or your lifestyle might not fit directly into one of those buckets or one of those models. And we will we we respect the ability to save and earn and grow money in those methods.

Kathleen: We customize everything. So from your cash positions all the way to your legacy planning. You'll be working one on one with myself or my associate, Gavin Jones, and we get to know you at a different level often. And then the most obvious response is the fee structure. Bigger overhead firms have higher fees and we're able to compete at a really favorable methodology to be able to be a fee with assets under management strategy. You can hire us on an hourly basis if there's a special need that you have to work with your attorney or to work with your CPA, that's above and beyond a normal situation. We do a lot of aspects of review and analysis in your business ownership, any real estate that you own, whether it's your first or secondary home. So we really have a relationship that's deep and often generational. We have several families that we represent four generations in one household, and that has been an approach. We don't do any national advertising. It's mainly word of mouth and referral business. So, I really welcome you to come in to my network here and and really get under the hood, so to speak, about our practice.

Sharon: Thank you, Kathleen. And just all of those points really clarify the distinctions of what you can offer. I want to give you an opportunity if you have any advice to give. I've been having conversations with a lot of people over the last year who have been looking at estate planning, who have been wondering if they should contact somebody to help them with their wealth management. And what would you say to somebody who's being cautious, who's been putting it off to maybe speak to their caution and help them understand that the importance of really having an expert in their corner in this area?

Kathleen: Ok, that's also another good question, because a lot of people do get a little paralyzed when there's so much going on in the world. We really try to demystify sort of the jargon and the news and the information that surround financial planning and investing and wealth management as a whole. So we have always had the philosophy that we have no minimum investment requirements. So everyone is welcome into our door and or will come out to visit you at your home or office. But, we try to identify the priorities that you have. And when people are reluctant to move forward, it's often because they feel maybe a little embarrassed because they haven't started soon enough. They might feel they're behind the eight ball a little bit in saving. They're not taking full advantage of their company sponsored benefits. We like to eliminate that factor. It's never too late to start investing. So, a dollar saved today can go a long way when you diligently focus on a goal or objective. So in that aspect, we welcome everyone to the door for a free no obligation consultation. Then if I like what you're telling me and you like what I'm sharing with you and our philosophy, we'll talk about how we can best serve you. Often in our business, sports analogies are given to be the quarterback of your financial planning or to be your partner, or there's just different analogies that people hear about often.

Kathleen: And we are we work for our clients. So the term "fiduciary" has been a buzzword in the industry of late. And I'll tell you again, there's no greater honor than when someone trusts you with their hard earned money. So I have been a fiduciary for thirty eight years, and while we're very proud of that, there's nothing more serious than than being responsible for someone's hard earned money. So we have no minimums. Again, we we talk about our philosophy on how we manage money and we listen to your goals and we listen to your objectives. And then we try to find in the marketplace as an independent wealth firm, we're able to shop the universe of investment vehicles. So we welcome everybody to come in and just have a conversation and get started with where they're at, where would they like to go in the next three to five years and then eventually be able to plan outright where they they want their legacy and what they want their legacy for their family to look like. So patience is important, taking a deep breath and being willing to just put your foot or toe in the water, so to speak, and see what the realm of financial planning really looks like. And then identifying a firm like ours, independent, someone who's dedicated to the industry, the certified financial planner CFP designation is key and it's an easy, recognized, identifiable mark in our industry or accomplishment to be able to how to go about selecting someone who has the structure, the the education and the commitment to the business year after year and then the requirements that are needed to keep up with this ever changing dynamic world that we live in, taxes, a new administration, global issues.

Kathleen: And of course, I can't leave this interview without talking about the pandemic and what it has paralyzed so many people. On the negative side, it's really given everyone a chance to rethink a lot of things that were important in their prior pandemic life and what's going to be their priorities in their new life as we recover from this just really unprecedented time. On the positive side, there's more money in the American pocketbooks and bank accounts right now than there has been an all time. I believe the figure is somewhere over three trillion dollars is sitting in savings because of the lockdowns, because of the inability to travel and and spend money out in in public and then in in common places that we've all enjoyed. So it's a great time. You know, our eternal optimist. We think it's a great time. To re-evaluate what you've done in the past and where you want to head for your future.

Sharon: Thank you, Kathleen. Total pleasure hearing you speak and learning from you. If someone's watching this video and wants to reach out to you and have a conversation, what's the best way for them to do that?

Kathleen: Well, I appreciate that again, Sharon. Probably a direct call it the office is one of the best ways to reach us. It's we're located on Parker Road and Yale, are our intersection roads. The office phone number is 720-535-7576. My email address is the initial And if you want to peruse our website before giving a call or sending an email, our firm's website is

Sharon: Thank you, Kathleen, again, Kathleen Bowen with Mind's Eye Resource Management. It was a total honor to speak with you today, and I wish you well. Thank you.

Kathleen: Thank you, Sharon. I appreciate it also. Take Care.

Sharon: Bye bye.

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