Michele Clark, CFP®, CRPC®

Michele Clark, CFP®, CRPC®

“I am so amazed and grateful at how giving our entire group is. We all want the other members to be successful so that this hourly model of providing advice prospers.”

Michele Clark, CFP®, CFPC® entered financial services after earning her degree in 1991, and has been working with individual investors for nearly 20 years. She has worked with individuals through the market’s rise and fall (and rise and fall), through tax and estate law changes, through new and evolving investment vehicles and accounts, and the creation and changes of countless other aspects. She understands people and the way they relate to their money. She also understands finances and the way it interacts with laws and the economy. Michele is now the founder of Clark Hourly Financial Planning, LLC, a Fee-Only financial planning firm located in Chesterfield, Missouri.

We recently interviewed Michele regarding her experiences as a Fee-Only financial planner and Garrett member since September 2008.

Why did you decide to open your firm under the hourly, Fee-Only business model and why did you decide to join the Network?

I worked for many years at a large brokerage firm; a portion of my client base was in our fee-based program where we managed their portfolio for thousands of dollars a year, focusing on just the investment portion of the client’s financial life. Clients started sending friends and family to me. Many of these referrals did not meet the minimum requirements for the fee-based program and did not have much in the way of assets that could be brought into the brokerage firm, but I was able to help them with many other questions and some simple planning tools to get them started on the right foot. I recognized a need for advice by the hour to help people like them. And I really enjoyed working with clients like this. In 2008 I decided to leave my brokerage firm and join the Garrett Planning Network so I could learn about setting up my own hourly practice. And after years of working with retired investors and hearing them tell me, “Your kids grow up so fast, enjoy them while you can,” I decided to spend time with my then preschooler, study for the CFP® Certification and Series 65 Exams, and then open my practice in 2010.

How has your business startup been supported by the Garrett Planning Network?

The Garrett Planning Network shaved so much time and effort off of my startup process. I cannot imagine having had to start the business without the resources and the guidance of the Garrett Planning Network.

The startup checklist in the Quick Start Manual was invaluable; it walked me though step-by-step, in chronological order, what needed to be done and when. The Operations Manual is something to which I still refer. All the compliance information was helpful; whether in the manuals, on the Knowledge Bank, or through the numerous webinars. The technology webinars have helped me select software, hardware, applications and websites to use.

What are the 3 greatest benefits of membership?

1) The startup materials.

2) The Knowledge Bank – Historical information is great when starting up, and the Knowledge Bank is a great resource to post questions to once you are up and running and want to tap into coach and member expertise, or if you want a second opinion.

3) The Garrett Retreat – I still cannot believe there isn’t a separate charge for this.

How has the Network met your expectations as a member?

The Network seems to always be striving to improve the resources available to us. The number and quality of webinars is wonderful. I also appreciate how many NAPFA and CFP® certification credits I earn at no cost.

The thing I appreciate the most, and didn’t know about before I joined, is this sense of “We’re all in this together” because we are on a mission to make good quality, objective advice available to Middle America. I think that is why the Garrett Retreat has such a positive, family-like atmosphere. It is terrific to be in such a supportive environment.

What are your short and long term goals for your business?

In the short term I would like to keep improving on my use of technology. I would also like to blog more. In the long term I would like to get back to teaching investors. In a prior role I travelled the Midwest for three years and taught several classes a week to investors. I really miss that and would like to incorporate that into my practice.

What was your favorite session at the Garrett Retreat?

The real-time planning session was my favorite because I got ideas from watching the two demonstrations and I liked the hands-on participation as well. Also, it was one step of the process to become a GFEA Trained Educator.

Hallway and break discussions are a perennial favorite. I always learn so much when I talk with other members about what they are doing in their practices. I am so amazed and grateful at how giving our entire group is. We all want the other members to be successful so that this hourly model of providing advice prospers.

Michele has a husband, a 14 year old son who plays the cello and basketball, and an 8 year old son who plays baseball and basketball. Most of her free time these days is spent at a gym, ball field or concert hall. When they are home, they enjoy playing board games. Monopoly and Life are a favorite with the boys… Little do they know, through these games, Michele is hoping to groom them to take over the business one day.