Brendan Mullooly is a New Jersey CERTIFIED FINANCIAL PLANNER™ practitioner. His family’s fee-only firm, Mullooly Asset Management, Inc. is located in Wall Township, a town in the southern portion of Monmouth County. Mullooly Asset Management, Inc. performs comprehensive financial planning and investment management for families all over the Jersey Shore, the state of New Jersey, and the tri-state area.
Why work with New Jersey CERTIFIED FINANCIAL PLANNER™, Brendan Mullooly?
Brendan Mullooly, CFP® and the Mullooly Asset Management family provide their clients with a powerful message not many advisors are willing to admit: an investment portfolio alone is NOT enough! Mullooly Asset Management truly believes in comprehensive financial planning, and it drives our client relationships from inception.
Too many advisors want to “diagnose” a portfolio problem before even getting to know prospective clients. This would be like a doctor telling you you’re sick without performing a physical or sending you for any tests. Many investors seek the help of a financial professional because they believe they have a portfolio problem. While it’s true that most people probably could use a hand appropriately investing their money, the impact of any investment management strategy is severely diminished absent the context of a strong financial plan.
This is why relationships with Mullooly Asset Management often begin by clearly defining the goals of individual clients, and gathering the pertinent data required to measure where they are on their path towards those goals. In addition to being fee-only fiduciaries at Mullooly Asset Management, we also like to abide by the Hippocratic Oath’s central concept of “first, do no harm”. We need to take a reading at the onset of each client relationship so we can ensure our recommendations are likely to improve the client’s overall standing. Giving investment recommendations before performing the financial planning process could easily violate the Hippocratic Oath without even intending to do so. Absent context, what could be a sound recommendation to one person might be anything but to another.
A financial plan identifies what to invest in, but it more importantly identifies how, why, and for what purpose the investments are being made. This is incredibly important because the only worthwhile way to measure financial progress is in relation to personalized goals. An investment portfolio tied to a comprehensive financial plan helps clarify what’s important and what isn’t. In a world full of constant distractions, this is invaluable and often keeps individuals from making big mistakes with their money.
As the saying goes, don’t put the cart before the horse. Likewise, don’t put the portfolio before the plan. Make sure that you and your financial professional are creating an investment portfolio that serves a comprehensive financial plan.
If you don’t have a plan, New Jersey CERTIFIED FINANCIAL PLANNER™, Brendan Mullooly and the rest of the Mullooly Asset Management family would be happy to help you! Get in touch today.