Our mission is to provide quality guidance, build relationships of trust, and develop innovative solutions

for our clients.

Scott D. Sorrell CLU, ChFC, CASL, CLTCInvestment Advisor Representative

Things I Wish I Knew As a Young Professional to Have a Great Start to

Becoming Financially Independent

And, a Few Other Tips in Business

No Matter What You Do, If You Are Successful, You Will Be Selling

• Learn to Attract, Not Chase – Serving vs Selling

• Learn the Art of Questions• Practice Communication • Ethics Beyond Reproach

Studies Show: The less you talk the more people like you!

On to the Financial Tips…

The Pyramid

Develop a Financial Strategy

1. Consultation- gathering data2. Analysis- comparing alternatives3. Implementation- offering solutions4. Review- analyzing performance

1CONSULTATION

2ANALYSIS

3IMPLEMNTATION

4REVIEW

General Tips

1. Have a Plan 2. Use a Budget3. Live Within Your Means4. Manage Credit Effectively5. Pay Yourself First 6. Start Early 7. Develop the Emergency Fund and Keep It Safe8. Understand Your Risk Tolerance9. Hire a Good Financial Advisor to be your Quarterback

Our mission is to provide quality guidance, build relationships of trust, and develop innovative

solutions for our clients.

Capitol Financial Solutions Mission

The word ethics is derived from the ancient Greek word ethos, which means “customs or habits.”

The word morals is derived from the Latin word mores and also refers to societal customs and rules.

Morals and Ethics are passed down through our culture– Some actions are considered acceptable or good– Some actions are considered unacceptable or bad

Ethics & Moral

Three types of situations typically:• The No Brainer – very clear what is right and

wrong• The Dilemma – more complicated, creates

conflict• The Gray Area – situations where we might not

even realize there is an ethical dilemma Let’s look at a few examples from the workplace…

Ethics in Real Life

No Ethical Reservations – Write “None”

Minor Ethical Reservations – Write “Minor”

Moderate Ethical Reservations – Write “Moderate”

Serious Ethical Reservations – Write “Major”

Ethical Sensitivity Exercise

You bring a more experienced colleague into a project that is beyond your ability because you feel your client doesn’t trust you to do it alone.

Scenario #1

You take full credit for an ingenious use of a product that one of your subordinates

developed.

Scenario #2

You inform the children of an elderly man about the erratic changes he has made in his will. He is

a recent widower. He asked you to change his will and leave most of his money to the SPCA. He claims to be deeply in

love with the director of the SPCA. The SPCA director’s son is also a financial planner

and will make the requested changes if you do not.

Scenario #3

• Bernie Madoff was an innovator!• Culture of Unethical Behavior at his firm• The Fallout– Investors lost millions, many lost their retirement– All his employees lost their jobs, whether they

were involved or not– Bernie lost his family, his business, his freedom

Ethics & The Financial Crisis ‘08

The Firm considers these thoughts:• My word is my bond.• Capitol’s reputation must be one of trust.• The Firm has more than 100 employees,

advisors and their families counting on it.• The Firm has thousands of clients and their

families counting on it.

How The Firm Faces Ethical Challenges

“The Bad Branch Manager Situation”• Hired a branch manager for a detached office• Quickly became clear that it wasn’t a good fit• He brought in one large case for which he was

due about $75,000• He was very costly to Capitol

To Pay or Not to Pay?

Ethical Challenge The Firm Faced