By David Thatcher, CFP®,
We all have vivid memories from childhood that we remember as clearly as if they happened yesterday. One of mine was sitting in my father’s office listening to him talk on the phone with a stockbroker. I was excited by the energy of the conversations and I couldn’t help but want to invest some of my hard-earned money.
One day when I was 14, I convinced my dad to let me listen in on the next call from a stockbroker. He agreed, albeit with much reluctance. The next broker who called was selling platinum futures. At the time, I had no idea what these were, but where I lacked in knowledge I made up for in hope. My dad invested some of my money for me, and the purchase was made.
With that money invested, the arrival of The Wall Street Journal was now a significant event in my day. My dad and I looked up the pricing of platinum every day and tracked its progress. Eventually, the excitement faded with follow up margin calls on the platinum position. My entire initial investment and more was lost.
As painful as it was, it also served as a significant life and investment lesson. I made a promise to myself that I would learn all I could about investments and never invest blindly or based on emotions.
This planted the seed that would blossom into a career in finance. After college, I cut my teeth at Merrill Lynch and Morgan Stanley before ending up at Cypress Wealth Services, a Registered Investment Advisory firm that uses Charles Schwab & Co. to custody its client’s accounts.
While more than 30 years have passed since my first investment, I still remember that experience dearly. It served as a stepping stone to becoming a financial advisor, for which I am forever grateful. Every day, I get to help others create a financial blueprint that will help them build and maintain the future they desire.
Knowing how important it is to understand what you're investing in, I focus on educating my clients throughout the process. It’s not just about providing strategies; it’s also about ensuring they understand the elements of their plan and how the different pieces work together.
Today at Cypress Wealth Services, I assist high net worth families, institutions, and business owners in developing comprehensive financial plans. As part of Cypress Wealth Services, I provide my clients with a unique process known as The Second Growth. This process was designed to address the specific needs of people during this critical second half of your life. By utilizing this process, I seek to provide my clients with peace of mind and certainty in meeting their needs.
Why am I passionate about this process? For one, I enjoy meeting with my clients and working together to conduct a thorough analysis of their financial position. This allows me to identify any gaps and dive much deeper than some advisors might. From there, I can create a highly customized and tailored blueprint designed to meet their needs.
Second, it allows me to take a collaborative approach. I can work with tax and estate advisors to address all areas of a client’s financial life. And third, it helps me maintain long-lasting relationships with clients because The Second Growth is an ongoing process. I meet with clients regularly to make sure they are on track and that their finances continue to reflect their desires.
I can’t imagine having any other career, and I look forward to many more years working with Cypress Wealth Services and my clients. I love serving as a reliable resource for answers and information when my clients have questions. When the markets increase in volatility, there’s nothing more fulfilling than sitting down with clients, reviewing the strategies we put in place, and helping them feel confident that I am looking out for their best interests.
If you would like a second opinion on your investment or retirement plan, I encourage you to reach out to me for a complimentary consultation. I’d be happy to sit down with you and review where you are today and how we can get you on track to attain your future goals. The first step is a no-obligation conversation. You can email me at David@CypressWS.com or call 760.834.7222.
David Thatcher is a CERTIFIED FINANCIAL PLANNER™ professional in the financial services industry. As a Partner and Senior Financial Advisor with Cypress Wealth Services, he provides comprehensive wealth planning to high net worth families, institutions, and business owners. He strives to help his clients manage, preserve and grow their wealth consistent with their financial goals and objectives. Based in the Palm Desert office, he works with clients locally in Indian Wells, La Quinta, Palm Springs, and Rancho Mirage, as well as nationwide, from Utah to Alabama. To learn more, connect with David on LinkedIn or visit www.CypressWS.com.