Friends Talk Financial Planning says Welcome!

Interested in personal finance and financial planning? Welcome! Bridget Sullivan Mermel and John Scherer talk introduce themselves and talk about why they started the channel, Friends Talk Financial Planning.

And this is john scherer. and in this video, we’re  going to talk about who we’re trying to reach,   what our inspirations are a little bit about our  background, how we got into financial planning,   friendship. so, john, why don’t you start   that’s important for me in this, and i think it  is for both of us, is to reach people

Who are   planning is not their native language. it’s   just not natural. it’s something they know is  important, but it’s a challenge. and i relate   being in shape is important and working out   is important. but it takes a lot of work for me to  get there. it’s just not my natural way of being.   it is my natural

Way. this is fun for me.   and i realize that people are on the other side  of that, and if i can help them have a sense   of control in their lives, that’s one of my big  purposes for this, and i know at least in part,   that’s your purpose also. but what else can you  consistent encouragement that they’ve got this,  

What is something they shouldn’t really   maybe some of the opportunities are that are   want to get things overly complicated. i feel   to handle very complicated questions. and so,   in your fitness example, that’s like the “win  wimbledon, run a marathon” example. it’s like,   i’m not trying to go for those goals. i

Want to  help people more like, make sure they feel good   and like, no, it’s not. you got this. like you  just said, you can get there. so that’s a great,   that really resonates with me as far as goals  for the show here also. so tell me a little bit,   background to get to know us a little bit. i   know that you started,

You had a cpa practice,  but tell me a little bit about more how you got   because i got an accounting degree when i was in  college because i felt like i always wanted to be   get myself to do it and i always was interested in  business and just businesses and small businesses.   me the best learning opportunity there,  

Fiction at the time. and so there’s this other  part of my brain that was under served. and i   ended up getting a masters in liberal studies. so  after spending all this time focusing on finances,   or, you know, just different topics. so when   i had my tax practice, it was successful. and  i like talking, working one on one

With people.   but i felt like it overworked part of my brain and  under worked another part of my brain. and i also   saw people were very underserved in the financial  planning industry, because i saw the results with   my clients (with my tax clients). and so getting  into financial planning was a great fit for me  

Because there’s a lot of i call it juice. there’s  a lot of juice there because it really combines   so many different areas, similar to my masters  in liberal studies. it brings a whole bunch of   different things together. i started in about  2008. i just switched to financial planning,   and i’ve really enjoyed it. so, john, tell

Me more  about your background and how you got into this.  over time, so my degree was in teaching.   my college roommate’s father in law was a general  manager for an insurance agency. and he said, well   gee, you might think about selling insurance and  selling investments and doing “financial planning”   (in quotes). i

Thought that always interested me.  i thought this would be kind of neat. i could do   that. and i quickly realized i didn’t want to sell  everybody i know whole life insurance in order to   make a living sort of thing. but then it’s kind  of like you. i saw the need that was out there.   and so i started my business in 2001 and i

Wanted  to go into the fee only side of things, which back   then was really sort of out there. and it came  for me when my wife and i bought our first house,   our only house, house we live in now. and we had  a friend that was helping us as our buyer’s agent.   and i realized in the process that every house,  her job was to

Get us to buy a house, right? and   not on the same side of the table necessarily.  and so that was really important for me as so   much of the financial world, especially 20 years  ago, was selling insurance, selling investments,   thinking about switching when i found fee only,   i was looking into different things that i

Could  do because i was interested in investing and   interested in the topic. and i was like, i don’t…i  feel like these people are ripping off my clients.   ripping them off to me ripping them off. so that   thing for 20 years now, and it’s question the  advice. why should i do this versus that? but   i never want to

Question the motive. and that’s  where i found myself with our realtor as “well   geez this is the right thing for me.” well, if you  get paid the same no matter what then we can talk   about “golly is that the right strategy?” but it’s  not. i make the same either way, you know, do or   don’t, whatever. buy the insurance,

Or make this  investment or do that. that’s really important   as sort of a leading principle for me. and it’s  interesting bridget, hearing your story about   coming from the accounting side of things, right,  and then getting into the financial planning   now we’re doing this financial planning things and   and that’s

One of the things i value about our   friendship and our relationship. and i wanted  to…it’d just be interesting to talk about.   one of our early thoughts about the show is the  cat and the dog. right? you’re from wisconsin,   and some of the differences, big town and  little town and different approaches, tax  

Focused and teaching focused, and how we met was  through the alliance of comprehensive planners,   talking about that tax focus. this organization  that we both belong to and found like “oh,   get paid for it.” and (it’s) interesting thinking  back, and (about) when we had a chance to first   you probably don’t remember

This, but it was at  a conference, my first conference that i went   blazed into my memory. and i met about three   joined acp yet. and you were one of them.   and then when after i joined, i remember coming up  to visit you in madison. i’m like “i always like a   trip to madison.” so, because i went to college 

There, and yeah then it’s taken off from there.  recently, we had just those new hotels had just   been built near my house and (we) kind of didn’t  know each other and had a chance to sit and visit.   planning” of course bridget and i are both   are the conversations we have as friends,   that we sit around and talk when

We get together  with our spouses and enjoy each other’s company.  it up and we’ll just again say subscribe to our   also, if you’re interested you can check out acp   we just plug them but they’re not paying us we’re  just doing it on a volunteer, just to pitch in. 

Transcribed from video
Friends Talk Financial Planning says Welcome! By Friends Talk Financial Planning