Anyone ever work with/come across or work as a Financial Planner with a focus on working mariners? Looking to ask some questions about the industry. Thanks!
What is so special about being a mariner that would require a financial planner to specialize in us?
Had the same question. Investing is investing, no matter what your source of funds are.
Valid question and you’re right. Was just curious. Just met a pilot who specializes in airline industry financial planning and wanted to see about maritime specific planners. I couldn’t find any myself. Certainly a trust component, Union familiarity/pensions would be another.
I had some guy from Northwestern Mutual cold call me and went on this long drawn out thing about he knew all about mariners and their special investing blah blah blah. He was based in San Antonio or something and was like 27…so I said thanks but I’m good.
A 27 year old financial planner is fairly new in any kind of investing , let alone the craziness in our industry. Not admonishing his potential insights, or his age. His pitch that he knew all about mariners without sailing would induce my first polite hangup. There is no “Special Investing” because you are a mariner. Protecting what you have and a decent return is investing 101. One brick at a time works quite well over the years.
Definitely special “investing” exists and is highly subjective. Pension funds don’t invest like individuals who don’t invest like hedge funds who don’t invest like endowments. Although a lot these days are closet indexers…Investing isn’t also the only part of financial planning. But slow and steady is certainly fundamental…
Was it Aesop’s fable? The tortoise beat the hare.