Georgia Lord, a certified financial planner in New York and Head of Financial Advisory Services for the Canadian fintech company, Wealthsimple, has been influential in the firm’s growth. Lord’s unique financial acumen combined with her robust leadership skills have been critical in transforming Wealthsimple into an industry leader.
Despite her considerable income, Lord’s approach towards wealth is vastly different. To her, financial stability is underpinned by a frugal lifestyle, smart deal hunting, and consistent saving habits. By doing so, she maintains her wealth without acquiescing to excessive luxury or unnecessary spending. This outlook is mirrored in her approach to advising clients as well.
The financial advice she dispenses to clients is the same she follows in her life. Lord sets great store by leading by example; however, she advocates against restrictive spending, especially in areas such as travel and dining. Rather, she believes in achieving a balanced approach between enjoying life and ensuring financial stability.
To Lord, ensuring financial stability trumps acquiring wealth. She saves 20% of her income bi-weekly, adheres to a strict budget, and invests in long-term retirement funds. This allows her to efficiently manage her finances towards the future – purchasing a larger home and expanding her travel experiences. Chiefly, she believes that smart money management is the key to achieving financial stability.
Lord’s professional advice to high-income clients revolves around strategic investment. She discourages heavy investment in stocks without understanding the risks, recommending instead a diversified investment portfolio. This involves investing in a mix of stocks, bonds, mutual funds, real estate, amongst other options. A chief proponent of financial education, Lord urges clients to continually educate themselves about different investment schemes and their associated risks and returns – thus promoting responsible investing.
Lord believes that clear financial goals, balanced savings, and diversified investments are key to financial security. Her philosophy underlines the virtues of financial education, persistence, and making informed decisions based on a clear understanding of market trends and investment risks. She reassures clients that financial planning may seem daunting, but with diligent research, professional guidance, and innate patience, it’s a journey that’s well worth the effort.
