Date: January 16, 2013
Wealth Management Specialist Steven Goldbloom Offers a Values Based Financial Services Model to His Clients
Steven Goldbloom helps his clients develop a sound financial plan that gives them peace of mind and confidence in their financial future.
Steven Goldbloom is the founder and CEO of Goldbloom Wealth Management, LLC, a Registered Investment Advisory firm located in Bellevue, Washington. Goldbloom brings a lifetime of business experience to the financial services world. Along with his team of best in class subject matter experts in the areas of tax, legal, insurance and securities, he maintains a strict fiduciary responsibility to his clients and works very closely with them to achieve the financial future they desire. For over three decades Goldbloom has been involved in the world of finance and has been an active participant in the corporate world as an entrepreneur as well as working within large corporations. Because of that experience, he brings a unique perspective to the financial planning world which gives him the ability to understand the financial planning needs of other entrepreneurs and corporate executives. As an individual who has built companies from the ground up and participated at various levels in corporate America, he has a strong grasp of the types of issues facing his clients. That is one of the main reasons so many people have placed their confidence in his recommendations for their financial future.
A graduate of Babson College with a BS degree concentrating in Finance, Goldbloom utilizes a Values Based Financial Services model allowing him to get to the heart of what people value most. He then structures a financial plan based on his client’s stated values. He takes a comprehensive approach to financial planning and addresses the client’s entire “financial house” with the goal of wealth preservation. His clients have found that they are able to confidently delegate their financial future to Goldbloom and his highly capable team. Because of this high level of confidence, his clients are able to better enjoy spending their time in the way they choose, knowing their financial house is in order and is being constantly monitored from a fiduciary standpoint.
Goldbloom’s business is focused on wealth management and retirement income, both with a wealth preservation focus. He takes into account not only how to get a good return on investment, but also how to get income for life. Regarding the values based emphasis in his planning practice, Goldbloom states, “We are an overall values based financial service. Different people have different views about money and what is important to them. I have found that there are two groups of people out there that we can offer the most value to: those who want enough income to last them for the rest of their lives, and those who know they have enough money to live on and want to make sure that it does’t end up in the hands of the government or financial institutions through unnecessary taxation, fees or contract clauses. Both groups want to make sure their money is passed on in a tax advantaged way to the people they love and the causes they care about.”
He uses the following example of two clients, one a business owner and the other a corporate executive to explain the nuances in values people apply to their money: “I have two different client meetings in the same week; both have than $5 million in assets. One client’schildren don’t have any idea how much money their parents have accumulated over the years . The kids have delivered pizzas and worked in the kitchen during college, etc.. Their kids will never know their parents have money until their parents are gone, at which point they each will be awarded a $10 million inheritance. That set of parents don’t want their kids to grow up as “rich kids” because their belief is that the way one makes money is to be self-sufficient and they want that lesson for their kids who will in turn pass it on to the grandkids. They feel if their kids know the family’s wealth, the lesson will not be possible. The children of these clients will eventually be very wealthy, but not for a long time and ideally they will have gotten that way on their own. My clients know this money will ultimately benefit the grandchildren more and they hope their children will bring up their grandchildren with the same work ethic that was instilled in them.”
He continues, “The other client views money very differently. They enjoy sharing significant amounts of money with their family in many ways. For example they go on anannual cruise, bringing the entire family and extended family with them; they may spend over one-hundred thousand dollars on one cruise. Comparatively, their values are very different than the first client, yet they both have similar net worth and they both value their families. One client values the experience of the kids learning how to make a living, while the other values the experiences of the family being together on an expensive vacation, enjoying the money in that way. Both groups value the confidential feedback as well as the questions I raise, which help them get clarity and achieve what they want. In the end, they both get what they want and when they look towars the past or into the future, they’re both smiling.”
When it comes to Goldbloom’s fiduciary responsibilities toward his clients, he takes that obligation very seriously. He explains, “A very critical part of our business is that we act as a fiduciary. I work transparently with my clients with only their best interest in mind. So the values I use in creating a financial plan for them are their values, not my values. When I give them guidance as an advisor, it has to be in the context of their values. When circumstances come up and I am called on for advice, I listen intently to the circumstances of their life and offer guidance based on that. For example, I have a client who has adult children who are married. They are concerned that something may happen to the marriage of one of their children and they would not want their money going to the ex-spouse outside of their family. That is a specific circumstance I have to take into consideration in relation to their financial plan.”
Prior to Goldbloom’s work in the investment advisory world, he was involved in another area of the financial industry, barter and trade. Working in this segment on a local, national and international level, he traveled to various parts of the country and world to meet with the top executives of companies ranging from small to mid-sizebusiness and to Fortune 1000 entities. After many years successfully influencing this industry on a global scale, Goldbloom left the life of extensive traveling behind to be able to spend more time with his family. It was then that he began working with business owners and corporate executives in the area of financial consulting.
Interestingly, because of his guidance, not one of his clients lost a penny they had invested through him during the market crash of 2008. Today there are many very thankful retirees that have great appreciation and respect for Goldbloom because trusting his advicesaved them from losing a significant amount of money during that downturn. Helping his clients achieve financial progress in a safe and secure way has led many of his clients to refer their friends and family to him. Goldbloom says, “My best new clients come from my existing clients and other professionals as referrals. My clients know I’m watching their back and I’m going to tell them the truth while constructin effective, values based plans. That’s why they have the confidence to send their family members and friends to me.” Goldbloom conducts regular seminars and workshops for his clients and prospective clients. Many of his clients enthusiastically bring their friends to these events.
When asked about the reason for his success, Goldbloom relates, “I attribute my success to the investment I’ve made in ongoing education and to my tenacity. I have also spent much time with outstanding experts. In a sense, I have achieved success through association. I’ve been fortunate enough to be mentored by some of the brightest minds in various areas of financial services. There are outstanding people with different specialties and areas of expertise that I meet with multiples times annually, spending a couple of days at a time with them, and gainig knowledge each time. Over the years I have worked with very successful entrepreneurs and corporate executives. I’ve had the privilege of working with individuals that were trained by IBM and Xerox as well as NBC television executives. I spend three to six weeks a year in various programs and investing in my personal and professional education. I also contribute my success to my fiduciary approach and my work ethic as well as to my family.”
Goldbloom continues, “I want to be a good role model for my kids and I want to make the world a better place. I live a very purpose driven life. I like to help others. I enjoy financial freedom because it gives you independence to be able to enjoy your family. When I excel my clients are better off because I can serve them better and I want to be able to offer the highest benefit to my clients.”
Goldbloom was a guest host heard Sunday mornings on Fox News radio station AM 770 in Seattle, Washington as a financial services specialiston the nationally syndicated Financial Safari Radio Show. He has also been featured on the San Francisco based television program, Mornings on 2, being interviewed by Ross McGowan and has appeared on the CBS Evening News with Dan Rather. He was inducted into the International Reciprocal Trade Association Hall of Fame, as one of the youngest members ever to be inducted at that time, for his efforts in helping to shape the Reciprocal Trade industry. Goldbloom has also been featured in multiple news sources including the San Francisco Chronicle, Nations Business and the San Francisco Business Times. In addition to being a featured guest on multiple radio shows and fulfilling numerous speaking engagements, he has also been a guest lecturer for the MBA program at the San Francisco School of Business. He is also a contributing author of the soon to be released book, The Ultimate Success Guide.
Because of his contribution to his industry, Goldbloom has been featured as a leading Financial Trendsetter in Newsweek magazine and has been featured as one of America’s PremierExperts® on the Consumer Advocate television program which will air on NBC, CBS, ABC and Fox affiliates throughout
the country. Additional information about Goldbloom and Goldbloom Wealth Management, LLC, can be found at http://www.stevegoldbloom.com.
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