As a financial advisor with Wells Fargo Advisors, Dale Hoeflinger focuses on relationships with his clients as he helps them build a solid financial legacy. However, he’s intentional about going a step above the cliched role of relationship manager.
“Something I truly feel sets me apart is the difference between acting as a relationship manager and becoming a challenger sales representative,” he said. “A challenger sales rep takes relationship management to a new level by offering new insights and challenging status quo ways of thinking.”
Dale encourages new approaches on certain aspects of a client’s portfolio. That doesn’t mean adding more risk; it’s merely adapting to changing markets and understanding the new tools available for portfolio management. He cites a common example where clients are under the impression that trusts are only for rich people.
“A trust is a great resource to add instructions to an asset, such as when and how an asset can be transferred to an heir. It’s great for blended families or families with minors,” he said. “Would you want your 20-year-old getting a $500,000 check if something were to happen to you? The status quo is to let an account go through probate or just add a beneficiary. This could be the right answer for some people, but not everyone. Let’s challenge that idea together.”
Did You Know?
Big banks are not fee-driven, evil corporations. “If you paid a fee at a large bank, you are probably doing it wrong. Fees are such a small part of a bank’s revenue, it’s not even mentioned at the shareholders meeting. Big banks, however, are more relationship-driven and offer services that most people don’t know about: mortgages, credit tools, financial planning, wealth management, insurance and small-business options. As a financial advisor, my menu of options to choose from is larger than a Cheesecake Factory dinner menu.”
Financial planning doesn’t have to be expensive. “Many firms boast about cost mitigation but then wrap everything up into a fee-structured program and charge for the financial plan on top of that. There is a better way. Fee-structured programs have their benefits, but it’s not the only answer. Using the resources of a bigger bank, we can incorporate complementary strategies that cut costs and use ‘best-of-class’ funds to complete the same objective.”
It’s never too early for a financial plan. “You can wait until closer to retirement, but what if you get there and don’t have enough? The greatest financial move one can make is to just start now; don’t wait. A financial plan is a permanent rough draft that is always changing, but wouldn’t it be nice to change it because you want to, not because you need to?”
Don’t undervalue long-term care planning. “With the rising costs of long-term care, proper funds set aside in a portfolio are extremely necessary. These funds are designed to soften the blow to a family’s retirement assets, so when someone passes away, more money is left to the remaining spouse for care. And it’s not as expensive when you plan ahead.”
Stocks and bonds aren’t the only way to invest. “They definitely have their place and can offer healthy returns when properly chosen, but not everyone is keen on taking risks. A financial advisor’s main priority is to design a portfolio tailored specifically to the client’s needs. If the client says zero risk, we can absolutely offer a solution. If a client wants aggressive growth over the next five to 10 years, we can absolutely offer a solution.”
An Advisor, Deejay and Entrepreneur
Dale has been in the financial industry for 12 years. He earned a bachelor’s degree in finance from Kennesaw State University. Dale carries Series 7, 63 and 66 licenses and has appointments in life and variable insurance, Georgia health and accident insurance, among others.
Honors include the 2019 Wells Fargo Golden Spoke Award winner (given to the top 2% of the company) and Around Acworth Readers’ Choice 2022 winner for financial advisor. He’s been recognized for having the fastest-growing financial advisement book of business within his peer class at Wells Fargo for 2022. Currently, Dale is president of the Acworth Business Association and credits these honors to the relationships he has developed during his six years in Acworth.
Dale also owns a deejay business, one that he started 20 years ago after attending a high school dance. Armed with ideas on how to improve the quality of entertainment, he became a deejay, expanded into weddings and partnered with wedding planners.
Over the years, he has added improvements to fill in gaps he has noticed, such as teaching people how to dance, timing introductions and helping people have
a good time.
Financial Advisor Dale Hoeflinger
Great article, Dale!