After 14+ years as an engineer in the defense industry, I decided to make a very unconventional change to become a financial advisor. I sat down and started to attempt to explain this big change and effects to the patterns of our lives to my kids. The best I could come up with in describing my new role was pointing out that instead of designing and testing equipment to keep our warfighters safe I was going help people solve problems that they have with money. My 5-year-old daughter dead-panned "Oh, you're going to be a Money Engineer." like that was the most obvious thing.
In four simple words she captured how I planned to approach my new role. I'm still applying that core engineering mindset and philosophy, just pointing it toward blueprinting financial plans tailored to each client's goals and situation now.
In a way, being a good financial advisor is a lot like being a good engineer. It’s about being process and staying evidence-based to set yourself up for the best possible outcomes possible. It starts with a diligent process of determining the objective of the “project” (i.e. requirements and KPPs vs. Life’s Priorities and Goals) followed by gathering information on inputs and constraints available (i.e. time, schedule, personnel, capital vs. income, expenses, assets, liabilities, insurance, future needs). Then moving into problem-solving and design from there. Then the final critical element is an iterative approach to execution. Engineers build prototypes, rigorously test them, monitor performance, and update the designs. For LifeFirst’s financial planning framework, we implement the strategies, regularly reassess based on changing circumstances, and make adjustments to keep everything track.
As a Money Engineer, I help clients identify where they want to go, iteratively plan to keep moving forward toward those goals, and stress-test the strategies as we go. So while I've transitioned domains from engineering to personal finance, those same core principles remain. And my daughter's perfect comedic timing in dubbing me the "Money Engineer" will forever capture my role and approach. The name stuck and I claimed it right away.