With all the work advisors do for their clients’ financial health, it can be easy to overlook their own needs. This includes MDRT Past President Brian D. Heckert, CLU, ChFC, a 35-year member from Nashville, Illinois. Earlier in his career, thanks to his professional success, he accumulated other businesses including a car wash and multiple shoe stores. Between 2002 and 2004, his investments caught up to him. There were times when his credit card was declined, which was a humbling experience.
“While insurance sales were good,” Heckert said, “I was having significant cash flow issues because of the outside businesses.”
Fortunately, Heckert’s study group encouraged him to reconsider his investments. Heckert recognized the value of this input and self-evaluation, even for financial services professionals. “We’re successful at what we do, but we’re miserable at what we need to do for ourselves,” he said. “I was able to finally see clearly that I should focus on the business most important to me — financial services — and get rid of those that did not complement my practice. Because of this advice and direct help, I was able to turn things around and have been substantially stress-free ever since.”
Heckert hopes others can learn from his experience, which he knows is a common one. “I want other MDRT members to look at their own planning as much as they look at their clients’,” he said.