Mission Wealth's Spotlight on the Team for September is Senior Client Advisor Associate, Jose Monreal! Jose joined the Mission Wealth team in August 2020, and has been in the financial industry for 3 years. He supports the Boys and Girls Club of America and the Southern California Library Literacy Network. He also holds a Bachelor of Arts in Business Administration with a concentration in Finance, and he is also a Retirement Income Certified Professional (RICP®). Learn more about Jose in this interview!
What are a few childhood experiences you had that formed who you are today?
Being raised in a family of six, I learned the importance of family early on in life. I remember getting together at family parties such as weddings and seeing a ton of aunts, uncles and cousins and growing up thinking it was normal to be a part of such a large and tight-knit family. Now that I am older and realize that’s not always the case, I realize how fortunate I am to have such a large and loving family. Another thing that stands out when I was growing up is my father’s work ethic. I have never seen my dad miss a day of work or call in sick and anytime he was asked to work on his day off, he'd say yes. This has really shaped my own work ethic and I realize that I truly enjoy being the hardest working guy in the room because of how proud I am of my father’s work ethic. I would also say my mother has done a wonderful job in making me the compassionate and empathetic person that I am. Growing up I always saw my mother help those that are less fortunate and this is something that I admire and try to emulate to this day.
How do you like to spend time outside of Mission Wealth?
I really enjoy being active and spending time with my family and friends. I’ve come to realize that some of my biggest passions in life are family, friends and exercise. Whenever it is possible, I like to combine the three. Some of my favorite activities are: hot yoga, trail running, mountain biking, snowboarding, soccer, paddle boarding and weight lifting - just to name a few. I also enjoy keeping busy in my community and try to volunteer in as many community events as possible.
Are you a raving fan of anything?
Yes, the Mexico National soccer team. I love watching the Mexico soccer team play in international competitions such as the World Cup. It’s a great time to get together with family and friends and celebrate or sulk in unity with my friends and family. It’s also a harmless way to engage in some friendly competition with friends of different countries.
What’s something interesting that people don’t know about you?
I enjoy singing mariachi music and I am a decent dancer.
If you could offer any advice to your younger self, what would it be?
Being true to yourself will make you happiest. Embrace the things that you genuinely enjoy and don’t focus too much on what others are doing.
At Mission Wealth we talk to people all the time about what their goals and aspirations are. So, what’s on your bucket list?
First and foremost, I want to really dedicate myself to my career. I plan on obtaining the CFP and CFA designations as well as an MBA degree. I also want to work hard on making partner at the firm, then I want to travel the world with my parents. They have both sacrificed so much of their time for the family, that I want to treat and show them places they never imagined they would see. I plan on taking them on a trip to a new country every year. I also want to focus on taking my love for exercise to a new level and start competing in marathons, triathlons, and take on as many physically competitive challenges as possible.
Are you a part of any organizations or clubs? Tell us more about it.
I am a new member of the Financial Planning Association in Orange County, CA and am also new to Toastmasters International in Orange County, CA.
What do you think makes you well-suited for your current role?
I believe both my passion for finance and people is what has led to my success in my career. I genuinely enjoy the relationships that I’ve established with my clients and I truly try to understand what it is that makes them happy. I also believe my interest in investing is what makes me well-suited for my role. I could talk about investments and the stock market all day long.
Is there something about your personality that guides your approach?
My desire to understand what it is that each person is passionate about is what leads my approach. I understand that every client has different goals and dreams and I always try to discover what those are. Before any financial conversation, I try and understand what it is that each client wants out of life and what it is that makes them happy.
What are your favorite kinds of clients to work with and why?
I am incredibly fortunate to call some of the nicest and most genuine people my clients. I would say my favorite types of clients to work with are clients with whom I have built trust. I enjoy allowing my clients to open up not only about their financial life but their personal life as well. In turn I am also very open with my clients and I enjoy when they are kind enough to share their wisdom with me.
What kinds of issues do you help your clients with, and what kinds of unique services do you provide to help them with these issues?
My clients are very smart people with a high degree of success in their lives. When I meet them, the issues that they usually face have to do with "what comes next". For a majority of my clients, it is making sure they don’t run out of money in retirement, all while living a fulfilling life. They may also want to secure a legacy and leave something behind for their loved ones. To that end, I focus my planning on strategies that will help them protect their wealth, shield them from unforeseen events and secure a legacy for their loved ones.
Can you tell us a story about a client you helped and how you changed their life in a positive way?
I will always remember the happiness I felt in helping one of my female clients. She had come to me through a friend of mine who is her CPA. Her husband had recently passed away and she was left to raise her son all on her own. She came to me distraught and saddened that the money her husband had left behind would not be enough to cover their expenses, fund her retirement and also allow for their son to go to college. She had left her career early on to dedicate her time to raising their son and consequently had no job and little savings for retirement. After meeting with her, I learned about her worries and concerns and also focused on what was important to her.
We worked together to create a plan that temporarily covered her expenses while she found a job. We then set enough money aside to help fund her retirement, and most importantly allocated enough funds to allow her son to attend the college of his choice. She was not only relieved, but ecstatic that through financial planning we had made her worries disappear and made her desires possible. I will always feel proud that I was able to help them and still smile when I think about how happy they both were when they realized that they were going to be okay.
Give me one piece of financial advice you would offer clients.
Find a good accountant and a good financial planner that you trust wholeheartedly, but also genuinely like. These two people will be so influential in your financial life, which will also spill over onto your personal life.
What is a subject or area of finance that not many people know a lot about, but understanding it could really help their financial picture?
Learning about behavioral finance could really help people understand their actions and help them deal with their emotions regarding their finances.
What are some important things to consider when choosing a financial planner?
I believe that choosing a financial planner should be a proactive process. That means interviewing multiple advisors, doing your research, and asking around. I recommend looking for someone that you feel comfortable with and in time can learn to trust. You have to be able to ask the hard questions and in return trust that they will come back with an honest answer. You need to know that your advisor will be your fiduciary and always have your best interest at heart. I also believe it is important that you chose someone you get along with, and that you see yourself working with them for a long time.