Advice You Can Trust - Episode 1 (Stress Testing)

Advice You Can Trust

In the inaugural episode of Advice You Can Trust, we introduce you to the Wealth Manager at Cumberland River Group, James Nichols and launch into our first enlightening conversation surrounding the importance of stress testing.

Given so much uncertainty in the world lately, with the Covid-19 pandemic, the 2020 Presidential Election, and their impacts on the economy as a whole, there are plenty of people wondering what they can be doing to give them peace of mind about their finances.

Allow James to put your mind at ease and explain the benefits of the stress testing process. Through a robust and in-depth analysis, James and his team at Cumberland River Group review your personal or business finances to help calculate the right financial maneuvers given your future goals.

So sit back, relax, and enjoy a thought-provoking conversation that could leave you with a vital piece of advice you can ultimately trust.

Timecodes:

00:06 - Overview on the show and what you can expect on future episodes

01:00 - Introducing James Nichols from Cumberland River Group

01:40 - What people can do right now to give them peace of mind about their finances

02:40 - Why the stress testing process so valuable

03:48 - The three main ways stress tests are utilized

05:10 - An example of what prompted someone to come see James for a stress test

07:05 - An example of how a stress test could save someone from a bad financial move

09:16 - What the keys are to make sure a stress test is done well

11:45 - How the human element comes into the stress testing process

14:13 - How James and his team gets into the heart of a client's goals

17:45 - A lesson that can be learned from the super rich and their stress tests

20:45 - The initial three meetings of a stress test

25:50 - Final remarks

Connect with James Nichols:

Website

LinkedIn