We’re peeling back the curtain on the world of financial planning, where compassion, dedication, and a bit of tough love come together.💡
Join Regina McCann Hess, a seasoned financial planner, who shares how her approach goes far beyond the numbers—focusing on life’s transitions and ensuring clients are prepared for every twist and turn. From guiding individuals through divorce to offering emotional support during market downturns and life’s inevitable losses, this conversation highlights the power of financial planning with heart. You’ll also gain insights into the challenges of valuing your services, the loneliness of entrepreneurship, and the importance of building a team that reflects your commitment to service. It’s not just about finances; it’s about finding humanity in the numbers.
🎧 Click here to listen now and discover how to make your finances work for you, with heart and purpose!💖
Key Takeaways from this Episode
- The essence of a heart-led business in financial planning
- Specializing in financial guidance for individuals undergoing divorce
- The emotional intelligence required in financial advising
- The importance of updating legal and financial documents
- The challenge of raising fees and valuing your service
- The significance of business coaching and masterminds for entrepreneurs
- The process and challenges of hiring staff that align with your values
About the Guest
Regina McCann Hess is a Certified Financial Planner and Certified Divorce Financial Analyst and the founder of Forge Wealth Management with over 25 years of experience in financial services. She is the author of Super Woman Wealth, empowering women to take control of their finances. Regina has appeared on major media outlets like Yahoo Finance and Forbes, hosts the Women & Wealth podcast, and actively supports her community through organizations like St. Mary’s Franciscan Shelter.
Additional Resources
- Website: www.reginamccannhess.com & www.forgewealth.com
- Facebook: www.facebook.com/ForgeWealth
- LinkedIn: www.linkedin.com/in/reginamccannhess
- Instagram: www.instagram.com/ForgeWealthManagement
- Youtube: www.youtube.com/@forgewealth/videos
- Book: Super Woman Wealth-How to Become Your Own Financial Hero
Support for the Show:
Consider supporting our continued efforts to bring you great, free content each week. Click this link to become a monthly supporter and get a shout-out on the next episode: https://www.buzzsprout.com/1793649/supporters/new
Next Steps:
- Subscribe to The Heart-Led Business Show on Spotify, Apple Podcasts, and YouTube.
- Pass the Torch of Wisdom: Share this episode with someone who embraces holistic practices in their business journey. It’s a treasure trove of insights waiting to ignite their path!
- Join the Conversation: Connect with me on social media. Let’s exchange thoughts, inspiration, and heart-led wisdom.
Up Next…
- Dive into an emotional yet uplifting journey with Brian Smith, a Grief Guide, Life Purpose Coach, and author of Grief 2 Growth. After losing his daughter Shayna in 2015, he helps others navigate grief and find purpose. Brian also hosts the Grief 2 Growth podcast and volunteers with Helping Parents Heal.
- Sales Mastery Awaits: Boost your Health and Wellness sales with our complimentary training. Start selling with integrity today! → https://go.businessleadmaximizer.com/script-training
- Spread the Heart-Led Message: Loved the episode? Your review on Apple Podcasts or Spotify fuels our mission. đź“‘
- Need some recommendations on great tools to help with sales? Check out my preferred tools here: https://tomjackobs.com/resources
Explore the Dialogue’s Treasures: Unearth the insights within! Delve into the profound wisdom woven throughout our conversation.
Speaker: 0:01
Welcome to the Heart Led Business Show, where compassion meets commerce and leaders lead with love. Join your host, Tom Jacobs, as he delves into the insightful conversations with visionary business leaders who defy the status quo, putting humanity first and profit second. From heartfelt strategies to inspiring stories, this podcast is your compass in the world of conscious capitalism. So buckle up and let’s go. Let your heart guide your business journey.
tom-jackobs_1_07-11-2024_212013: 0:38
Well, hold on to your headphones, folks. We’ve got Regina Hess, the financial guide with gleaming grit and groovy gusto coming your way. She’s not only an ace in accounts, but a beacon for the Bay State families, too. And guess what? She’s mastered the art of multiplying money whilst merrily maneuvering the maze of matrimony and motherhood. Here comes Regina riding the wave of the wealth world on the Heart Led Business Show. So buckle up for a belly full of business banter and a bonafide warmth. Regina, welcome to the show.
regina-mccann-hess_1_07-11-2024_092013: 1:14
Thank you, Tom. That was an amazing introduction. That was awesome.
tom-jackobs_1_07-11-2024_212013: 1:19
Well, you wrote it. So of course, it’s awesome. I just, yeah, awesome. Well, I’m really, really happy to have you on the show. And I always like to ask the first question, what’s your definition of a heart led business?
regina-mccann-hess_1_07-11-2024_092013: 1:33
I believe a heart led business is something where you can help other people in their need while also doing, doing the right thing for them and getting your own fulfillment out of it. Right. So by helping other people, you can satisfy your need for helping people, but also get them to a better place of where they’re trying to be in, in hopefully a successful manner. Not obviously can’t be a hundred percent accurate all the time, but doing your best while helping them do their best. And also kind of going back to Teaching them the fish along the way. So they learn how to be successful on their own. And so they’re not dependent on other people to be able to achieve the same results as they go forward.
tom-jackobs_1_07-11-2024_212013: 2:22
I like that. That’s you know, getting your own personal needs met by helping others get their needs met. I think that’s, that’s such a great, great message. And yeah, I wish more, more and more businesses were, were, were doing that. So tell us a little bit about your business and what inspired you to start a heartled business.
regina-mccann-hess_1_07-11-2024_092013: 2:41
So I own a financial planning and investment management firm in Malvern, Pennsylvania, and I work with professionals and their families and, you know, doing their financial planning. Basically, you know, how you get in the car and you have the GPS to tell you where you’re going and how to get there and avoid all the accidents along the way. I do that. I guide people along the way for their financial journey and hopefully we can avoid some of the accidents and pitfalls. Or at least, you know, try to minimize the damage along the way, as long as we, you know, stick to the plan. So that’s really the nuts and bolts of what I do. I also have a niche where I work with people going through a divorce. And mostly it’s women, although I do work with men too, but mostly it’s women because women tend not to have the relationships with the financial advisors. And need a little extra help with the financial aspects of a divorce and figuring out, you know, all the, you know, here’s the bucket of assets and debt that they accumulate it. Now they got to split it into two and which assets are better in their pile versus the other pile.
tom-jackobs_1_07-11-2024_212013: 3:48
Okay. Oh, that’s, that’s cool. That’s a, that’s a really nice niche as well, because I’m, I’m sure a lot of people are, that’s like one of those wealth destroyers, right, is divorce. And if it’s not handled the right way, it can really, you Kind of destroy somebody’s financial livelihood right at that moment anyway.
regina-mccann-hess_1_07-11-2024_092013: 4:07
Yeah, yeah, it can. And I think the reason I spend so much time there is because I’m a product of divorce. My mom was divorced. She didn’t have any kind of guidance whatsoever. So it was kind of a. A mess afterwards. So I kind of make it my mission to help as many people as I can to make sure that, you know, they’re making informed decisions about their, you know, divorce agreement before they sign on the dotted line so that they know what their lifestyle could be on the other side of that divorce. And it doesn’t mean that it’s going to be a perfect lifestyle, but it, it, it, it Basically empowers them with knowledge and some education about what they need to do and how they can live their new lifestyle.
tom-jackobs_1_07-11-2024_212013: 4:52
Hmm. Yeah, no, that’s, that’s great. And so, you know, having a heart led business is, is, is awesome. Being able to help other people as well. And I, I think a lot of listeners will, might, might be thinking you’re a financial advisor. Like how’s that heart led? That’s all numbers. Like explain how being a financial advisor and, and working with numbers all day can also be a heart led business.
regina-mccann-hess_1_07-11-2024_092013: 5:18
Oh my goodness. You know, it’s funny. A lot of people think financial advisors only handle the numbers and we do, we handle a lot of numbers, but there is a huge personal side of it. We are literally sitting and holding hands At times you know, when the markets are down, you have what we call the nervous Nellie, as you’re picking their fingernails out the ceiling and you’re talking them through those tough times to make sure they don’t make emotional decisions and which would hurt their longterm impact. We’re dealing with people when they’re going through life transitions. And they’re not fun life transitions. Obviously we are there for the fun things like the marriages and the babies and things like that. But we’re also there for the deaths. We’re there for the divorces. We’re there for, you know, not just deaths of spouses, but deaths of children. And, you know, getting somebody through that, you can’t just sit here and talk about finances. You have to be human. You have to show them that you care. To be able to help them with everything else. They have to know you care and you can’t fake that. You have to truly care in order to show that for sure. For sure.
tom-jackobs_1_07-11-2024_212013: 6:29
Wow. Yeah, people can, people can definitely feel if, if you’re faking, care for sure. Yeah, and business wouldn’t last for very long if that’s the modus operandi, so to speak.
regina-mccann-hess_1_07-11-2024_092013: 6:42
Yeah. No, it wouldn’t. It wouldn’t. And, and the other thing that a lot of people don’t think about for You know, you’re working with people through their lifetime. I’ve been in this industry of, for over 25 years, I’ve had clients for that long and you’re going through them with their life transitions and there’s a lot of people now that I’m talking through the next phase and that next phase includes, you know, whether it’s independent living or assisted living or foreign full nursing home care. I mean, I was. Recently, one of the first phone calls when, you know, somebody found their mom unconscious in their house and they went to the hospital and I’m talking them through, you know, let’s get to assisted living after this so that she has somebody to, you know, watch her and take care of her in case she needs something. And there’s a whole obviously financial thing about that because you can say, all right, well, how can we afford this? How do we pay for this? And what type of facility can she afford? But there’s also the emotional human side of it. Like, is that a good place for her? Like you hear all sorts of things about some of these places. You want to make sure that the family who lives all over the place is going to have peace of mind, knowing that she’s in a good place. You know, independent living or assisted living type of community.
tom-jackobs_1_07-11-2024_212013: 8:03
Yeah, absolutely. You know, it just reminds me, like, last year we lost our, my father. And, That was almost like the first phone call that was made was to the financial advisor and CPA was okay, Gary, Gary’s his name and great guy and was able to kind of walk through. Cause my dad was the one that handled all the finances and you know, my brothers and I, and my mom had to like figure things out. Luckily he did a really good job, but Having Gary there to then say, Oh, well, we also need to look at this, this, this, and gave my mom like what she needed to do as well. And it was, it was really a lifesaver and just a really nice thing for that financial advisor to do for the family.
regina-mccann-hess_1_07-11-2024_092013: 8:52
Yeah. And that’s what a lot of people don’t know that we do that, right? They only think of, Oh, well, you’re picking the stocks, bonds, mutual funds, things like that. And that actually is the smallest part of the job anymore, because you’re so involved with the family. Or at least I am, I get so involved with the family and really try to take the time to find out what’s going on in your life, like when we do our reviews with our clients. We talk about the portfolio last. One of the first things we talk about is how’s your health? What’s going on? Have you, you know, have you had your annual, whatever it is, you know, just a checkup or if it’s, you know, mammogram for women, things like that. What are you doing? Is there any new medication? You know, just, we try to make sure that if there’s any, Important things they need to talk about. We talk about it. The other thing we focus on is making sure or trying to encourage our clients, which this is a challenge sometimes updating their powers, attorneys, updating their wills. I can’t tell you how many times I’ve talked to people about like, Hey, I’m a little concerned. You know, let’s get your power of attorney for your healthcare, for your financial stuff, up to date. And some of them are great. They’re like, yeah, you’re right. We need to do that. And others are dragging their feet, dragging their feet. And then I see healthy health in decline. And once they get to a certain point, there’s nothing I can do. So I spent a lot of time trying to encourage family members and clients to update those types of documents so that. We can continue on the financial care when they’re getting, you know, their health care taken care of.
tom-jackobs_1_07-11-2024_212013: 10:23
Yeah, absolutely. And that, I will double down on what you just said on that. Having those documents in place is so critical. And I’ll go back to when my father died. He had a stroke. Was unconscious, was on an a ventilator and was basically brain dead. And he had a very specific DN, do not recessive DNR order that included, do not incubate, do not take extraordinary measures. And that made the decision so much easier. And the, and the doctor was like, well, we have the document here. It says. We need to take the, take the tube out and allow what. You know, nature will allow what will happen. And that just took so much pressure off, off the family of having to, and my mom to make that decision, which was hard anyway, to see that,
regina-mccann-hess_1_07-11-2024_092013: 11:23
Yeah.
tom-jackobs_1_07-11-2024_212013: 11:24
but having that document and knowing exactly what dad wanted was so important.
regina-mccann-hess_1_07-11-2024_092013: 11:29
well, he gave you a gift by doing that because it is so emotional. There’s so much guilt when you have to be the decision maker on that, even if it is the right decision, because, you know, if you said your, your father was brain dead, I mean, that’s, there’s not a lot of decisions to be made there, but. It’s still a decision to say, yes, let’s, let’s proceed with, you know, extubating and all that, all the other things that are keeping him alive. It’s difficult to make that decision. I’ve been part of those decisions. Even though you know what’s right for them, you have to, you have to say it, you have to proceed with it. And you also, when you’re, when you’re having those powers of attorney, it’s also important when you. Assign, say he assigned you as his power of attorney, you know, he needs to talk to you about that. And even though thankfully he had it in writing, but he has to make sure you’re comfortable with being able to pull the trigger essentially when needed, because some people can’t do it. So you’ve had, you have to pick somebody who’s willing to listen to what your wishes are, not what they’re comfortable.
tom-jackobs_1_07-11-2024_212013: 12:32
Yeah, exactly. Yeah. It wasn’t me. It was my middle brother who was the black sheep of the family growing up, which I thought was really interesting that my parents have, he’s a great, great guy. Now, my brother
regina-mccann-hess_1_07-11-2024_092013: 12:43
Yeah,
tom-jackobs_1_07-11-2024_212013: 12:44
they, they, they chose him as the power of attorney and it was still a hard decision for sure. But but yeah, dad gave us a gift by, by doing that. Awesome. What other things? Well, having a heart led business is, is great. I talk to a lot of business owners that struggle with the profit side or the money side of the business itself. What kind of advice can you give to those that are like, Oh, I just want to give everything away for free and not, and not charge what I’m worth, or just want to go into their passion project and just, Hope and pray that the profits will come. What, what type of advice would you have for those folks? What?
regina-mccann-hess_1_07-11-2024_092013: 13:26
will say it’s about progress, not perfection because I am constantly struggling with this myself and I’ve had a lot of coaching and that’s something I would recommend. Get a coach, a business coach who’s going to guide you through those conversations. I raised my fees last year. I think it was last year. For the first time in over 25 years, it took me, yes, yes, yes. Well, my industry is also, you know, fee conscious, right. But I mean, for years I would do financial planning while I was at a firm where I was previously, I wasn’t allowed to charge for financial planning. Even though I hold a CFP designation, a certified. financial planner designation. I was not allowed to charge for financial planning. So I was like, Oh, this is weird. So when I started my own business, thank you for independence. I eventually started charging, but I, I charged so little, it was a joke. And I finally had the coaching that I needed. To say, Hey, you know what, my time is worth something. My experience is worth something. And you, you know, if you don’t, I have to show you the value in it. And you know, what I add value to your situation is worth way more than what I charge for your financial planning. So, I mean, I have struggled with that, but I have finally gotten to the point and it took me years, Tom. I have finally gotten to the point where I am like, I am not working for free. No one else works for free. Why should I work for free? I just, I can’t, I can’t. Now I will rattle myself and say there are, I have the friends and family thing where it’s, you know, yeah, sure. I’ll look at your 401k or yeah, I’ll do a quick financial plan, you know, so that You, we at least have a guideline for you. Yes. I still do that every once in a while, but for the most part, I am like, Nope, we have to charge a
tom-jackobs_1_07-11-2024_212013: 15:18
Yeah, no. And that’s fair too. It’s an exchange of value. They’re receiving value from you. You should receive value from them as well. So 20, 20 years without raising rates. That’s, that’s, that’s criminal. Actually, you’re going to be arrested, but it’s, but it’s.
regina-mccann-hess_1_07-11-2024_092013: 15:34
Well, I will tell you, it was so painful. That conversation when you’re raising fees in my world, it’s so painful because you’re, you know, you’re I’m like, I have to take care of my people. Right. They’re my, I call them my, like my family at this point, because they’ve been with me for so long. And I was almost embarrassed, but I’m like, all my, all my expenses have gone up so much since COVID just like everyone else. And I put it off as long as I could. And I was just like, all right, I’m going to do this and I hope I never have to do it again. So fingers
tom-jackobs_1_07-11-2024_212013: 16:05
because like people get a raise every year when they have a J O B
regina-mccann-hess_1_07-11-2024_092013: 16:09
Yes, they
tom-jackobs_1_07-11-2024_212013: 16:10
usually, I mean, it depends. So why not independent, you know, business owners, you should get a raise every year as well. Yeah. Just.
regina-mccann-hess_1_07-11-2024_092013: 16:19
Oh, I hear
tom-jackobs_1_07-11-2024_212013: 16:20
totally understand because when I, so I had a fitness training business for 10 years in Houston and that was exactly, I can’t raise my rates. Like, how could I? And it took me five years before I did the first one. And then it was like every other year I would just raise rates. So
regina-mccann-hess_1_07-11-2024_092013: 16:38
Yeah. Good for you. Good for you. I finally got there. I finally got there. It took me a long time. So my advice is get, get business coaching done sooner rather than later to help you with those conversations, to help you with that process, to help you with what the plan is and the processes for that.
tom-jackobs_1_07-11-2024_212013: 16:57
100%. That’s the best, best advice that I’ve heard so far. So yes getting, you know, I’m sure you feel this way, possibly just working for yourself, but as entrepreneurs, we oftentimes just feel very alone because it’s hard to talk to friends and family that don’t own a business. And, you know, we need, we need that, support system, whether it be a coach, a mastermind, other like minded business owners to be around, to know that we’re not crazy, that what we’re doing really does matter,
regina-mccann-hess_1_07-11-2024_092013: 17:27
I, I, it is so glad that you said that because being an entrepreneur is one of the loneliest things I’ve ever done. And cause you can’t, you’re right. You can’t talk to people about it because they have no clue what it’s like. And so, yes, I do belong to a couple masterminds with, you know, other business owners in my own industry so that we can, you know, Help each other out with conversations. And what are you doing about this? What are you doing about that? That it’s very lonely.
tom-jackobs_1_07-11-2024_212013: 17:56
doing the right things to make it less lonely and to learn from others and do all that is, is really, really important as well. What other kind of pleasant surprises have come about in your business by being a heart led entrepreneur versus profit led?
regina-mccann-hess_1_07-11-2024_092013: 18:12
I would say when families bring other family members to me. Because they know I’m doing the right thing for them. And they just, they literally introduced me as, you know, I’m thinking of one of my, my long term clients and he’s like, you know, this is Regina. She’s my girl. I’m like, that is the best introduction. He’s like, she’ll take care of you. It’s like the best introduction ever.
tom-jackobs_1_07-11-2024_212013: 18:35
my gosh.
regina-mccann-hess_1_07-11-2024_092013: 18:36
And it’s known that you’re like, I’ve been working with them forever. So yeah. So it’s very, very cool when, when I get an introduction like that.
tom-jackobs_1_07-11-2024_212013: 18:43
Yeah. Do they typically refer other family members or are they referring business associates or friends and, and all that as well?
regina-mccann-hess_1_07-11-2024_092013: 18:52
Friends and friends and family members. Yes. And, and this particular person introduced me to other people who worked at his company. Like he worked for a major organization and he introduced me to a couple other people at that same organization. So it was it was really, really a cool experience when he, he would introduce me that way. So
tom-jackobs_1_07-11-2024_212013: 19:13
Regina, my girl.
regina-mccann-hess_1_07-11-2024_092013: 19:14
My girl, you got to talk to her. She’ll take care of you.
tom-jackobs_1_07-11-2024_212013: 19:16
That’s your new business
regina-mccann-hess_1_07-11-2024_092013: 19:17
yes, thank you. Can I put that on
tom-jackobs_1_07-11-2024_212013: 19:19
Yeah, exactly. I’m your girl.
regina-mccann-hess_1_07-11-2024_092013: 19:21
Yeah. I’m a girl. I’m the girl. Oh,
tom-jackobs_1_07-11-2024_212013: 19:23
And you know, referrals are one of the ways that you know that you’re doing the right thing by your people as well. If, if you’re not getting referrals, In your business, you’re probably not really that heart led, right? Yeah,
regina-mccann-hess_1_07-11-2024_092013: 19:39
Absolutely. Yeah. And, and I also get referrals from attorneys cause I work with divorce attorneys for the other stuff that, so I get I get referrals from them as well and some mediators too. So that just reinforces that I’m doing the right thing. You know, because they’re seeing how much I care about the client and how much work I put into making sure that we have everything covered for our discussions and you know, what, what’s right for them. So when I get a referral from, from the professionals, I, I feel like, wow, okay, they, they realize the value I’m adding and I’m, I’m going to keep doing that so that I don’t disappoint them. Right. So it just like levels it up even a little bit more.
tom-jackobs_1_07-11-2024_212013: 20:20
absolutely. Cause yeah, if, if business partners aren’t, are referring and then stop referring people to, you know, that there’s, there’s an
regina-mccann-hess_1_07-11-2024_092013: 20:29
That’s not
tom-jackobs_1_07-11-2024_212013: 20:29
yeah, not good. So besides not raising your rates in 20 years what other challenges have come about by being really heart led in, in your business?
regina-mccann-hess_1_07-11-2024_092013: 20:40
I’m going to say bringing new staff on, I am extremely selective. I look at somebody and I say, could I put them in front of my client? And the answer is no, most of the time. It was after COVID when I needed to hire somebody and I literally interviewed people who were licensed and in my industry. And I was just like, I can’t put a single one of these people in front of my clients. I would never trust them with my clients. It was, it was just an awful experience. And I kept thinking, all right, well, Is it me? Am I the problem? Am I being too picky? But it was like, no, there, there’s an ethical thing here, you know, and there’s a work ethic. And, you know, I put some, so much of my heart and soul into something. I don’t want somebody who’s just going to show up, and, you know, show up as in, you know, just show up for the job. And that’s just a job to them. This is not a job to me. This is. My passion. So yeah, I think finding staff that reflects me, reflects my values and reflects the, you know, my mission for what I do has been the hardest thing to do.
tom-jackobs_1_07-11-2024_212013: 21:49
So were you able to fill that position?
regina-mccann-hess_1_07-11-2024_092013: 21:51
Eventually, it took me a while.
tom-jackobs_1_07-11-2024_212013: 21:53
How long did it take
regina-mccann-hess_1_07-11-2024_092013: 21:53
Took me a while. About two years. About two
tom-jackobs_1_07-11-2024_212013: 21:56
geez.
regina-mccann-hess_1_07-11-2024_092013: 21:57
Yeah, no, I am not kidding you. And I even had, I even paid a recruiting company to help me and the people they found were awful too. So I was just like, you know what, I’ll just do it myself until I can find, you know, somebody who I can feel that I could trust that I know I would not be embarrassed to sit in front of my client. So yeah, it took me two years.
tom-jackobs_1_07-11-2024_212013: 22:19
Well, and, and good for you for not lowering your standards as well, because a lot of business owners over the last couple of weeks last couple of years have, you know, struggled with that same thing, getting really good employees. And so then they just go, ah, I just need somebody to breathe here. And it’s. Kind of sad in terms of just, and I, I’ve seen that in terms of the service industry, especially. I mean, it’s not, not the same as it used to be, you know, five years ago.
regina-mccann-hess_1_07-11-2024_092013: 22:47
No,
tom-jackobs_1_07-11-2024_212013: 22:48
It’s
regina-mccann-hess_1_07-11-2024_092013: 22:49
I hear you. I hear you. I hear a lot of people talk about that. And I have friends who are in HR, the HR area, and they’re all, they all have been saying over the past year, they’re literally getting rid of all those hires because they were not the right
tom-jackobs_1_07-11-2024_212013: 23:04
Yeah. Yeah. Well, the old saying is higher, slow fire fast.
regina-mccann-hess_1_07-11-2024_092013: 23:09
True. So true. Yeah. Hard to do, but looking back, that’s, that is really, really true.
tom-jackobs_1_07-11-2024_212013: 23:15
I think two years is on the expert extreme side. Wow.
regina-mccann-hess_1_07-11-2024_092013: 23:19
And I know, I know. Oh my gosh. It was rough. It was rough. I was, I was working some crazy hours, but we got through it.
tom-jackobs_1_07-11-2024_212013: 23:27
Good. And, and I’m, and they’re still with you. I hope. Okay.
regina-mccann-hess_1_07-11-2024_092013: 23:31
Yeah. Yeah. We’re, we’re, we’re full, full staff right now. So, you know, counting my lucky stars.
tom-jackobs_1_07-11-2024_212013: 23:37
awesome. Yeah. I think that’s, that’s a big thing for business owners as well as is staffing is usually the, the number, number one or number two stressors in, in the business and meet me as well. So
regina-mccann-hess_1_07-11-2024_092013: 23:51
yeah, Yeah. And it’s hard too, because I know, I know how to be an advisor and a financial advisor and a financial planner. Like I’ve been doing it for so long, but I’ve only been a business owner for nine years, which is a long time, but it’s a, like, it’s a whole new world. I’m learning every day. I’m learning something new about being a business owner. So, I, you know, I’m open to that. But it, it is a challenge.
tom-jackobs_1_07-11-2024_212013: 24:17
Yeah, well, it should be a learning experience every day as well. And I always, I love making mistakes in, in business as well, because, or failures, having failures in business, because it’s, that becomes one of the best learning experiences and, you know, and to your point about taking so long to hire somebody like that’s, I made lots of failures in that hiring process before as well, and, you know, Totally sympathize with you
regina-mccann-hess_1_07-11-2024_092013: 24:43
Yeah. Yeah. Yeah. But we do learn more from our failures than our mistakes. So it all works out somehow. That’s what we tell ourselves. Anyway.
tom-jackobs_1_07-11-2024_212013: 24:51
it does. It does. And, and, you know, finding the right person as well, and then taking care of those employees as much as you can, as much as they will accept your care as well, just makes the business better and makes. the client service better too, I think. Do you agree with that or like, what’s your take on it?
regina-mccann-hess_1_07-11-2024_092013: 25:12
Absolutely. Absolutely. Yeah. Because you want your people, your staff to be a reflection of you. So you want to hire like minded people and you want your clients to feel that same vibe that they get from you from your team. So wholeheartedly agree with that.
tom-jackobs_1_07-11-2024_212013: 25:31
Yeah. And it’s hard, you know, I just had to let somebody go today, actually. And it’s hard because you know, you, you put, I felt anyway, that I put a lot into that employee and offered a lot of I don’t know what you call allowances, so to speak in terms of, you know, time off and all that. And then, you know, to learn that, you know, they’re going behind your back and, and doing something else that goes against company policy, it’s just, it boggles, it boggles my mind.
regina-mccann-hess_1_07-11-2024_092013: 26:01
Yeah, it does. It does.
tom-jackobs_1_07-11-2024_212013: 26:02
But yeah.
regina-mccann-hess_1_07-11-2024_092013: 26:03
And it’s personal too, because it’s your business.
tom-jackobs_1_07-11-2024_212013: 26:06
exactly. And it’s hard to like, you know, divorce, that, that piece of the, the, the business from the personality. I think I’ve gotten a little bit better over time. Like when I, anytime I lost a client in my fitness business, I was like, oh, what happened? What is it? Was it mean like, no, they moved away. They, they couldn’t.
regina-mccann-hess_1_07-11-2024_092013: 26:24
yeah, yeah. It can’t. Yeah. You can’t change that. But you do try to learn, like you do try to learn from it. Like I always tell, you know, if, if I have something that doesn’t work out well or a client experience, I always try to learn from it. Like, well, what could I do better next time? What, what, what were, you know, what was the problem here and how do I correct it for the next time?
tom-jackobs_1_07-11-2024_212013: 26:43
Yeah, absolutely. And that’s, that’s actually something that we do at my company now is we do a after action review. So I took that kind of that philosophy from the army. Not that I was in the army, but I really love army books, management books, but they, they, and after action review is just looking at everything that went on. that client or why they might have left. And there’s no judgment. It’s all about learning from what that what the failure was, or even if it wasn’t a failure, doing that after action review is really important to look at the decisions that you’ve made and if they were good, bad, indifferent, what you can learn from them.
regina-mccann-hess_1_07-11-2024_092013: 27:20
Yeah, for sure. Absolutely.
tom-jackobs_1_07-11-2024_212013: 27:22
Well, Regina, how can people learn more about you and, and your, your business?
regina-mccann-hess_1_07-11-2024_092013: 27:28
Well, they can go visit my website. I’m at www. forgewealth. com. I also am active on social media with Facebook and Instagram at Forge Wealth. And I also have a YouTube channel, Forge Wealth, again. So the, I’m a little bit Everywhere. So that’s how you find
tom-jackobs_1_07-11-2024_212013: 27:44
Awesome. Well, we’ll link all that up into the show notes as well. And are you only practicing in Pennsylvania or do you have a license to other states?
regina-mccann-hess_1_07-11-2024_092013: 27:54
Yeah, I am able to practice in other states. My, I am primarily, like, I am located in Pennsylvania, but I have clients all over the country and different states and whatnot. So, I can do that. I do love meeting people in person, although I still also work with Zoom. So that’s the one good thing about COVID. It showed us that we can do more outside of that little box of the office. So that, that has opened up our world a lot more.
tom-jackobs_1_07-11-2024_212013: 28:20
That’s awesome. And are you a fiduciary financial
regina-mccann-hess_1_07-11-2024_092013: 28:23
Yeah. So I’m a CFP, so I have ethical considerations as well. But I, most of my business is fee based, so you have to act as a fiduciary, which honestly, I think is funny that it is now a big thing. We have to be a fiduciary and do the right thing for our client because, I’m sorry, haven’t I supposed to be doing that for the past 28 years?
tom-jackobs_1_07-11-2024_212013: 28:46
desk?
regina-mccann-hess_1_07-11-2024_092013: 28:46
Is this really that new But it’s a big buzz thing right now, so I’m like, okay, yeah, I’m doing it. But I have been
tom-jackobs_1_07-11-2024_212013: 28:53
Yeah, well, I mean, it, it takes a few bad apples to spoil a bunch, right?
regina-mccann-hess_1_07-11-2024_092013: 28:57
Oh, I know, I know, I know. But the it, it is, it concerns me too, because now it’s the buzzword. And I’m pretty sure Bernie Madoff was a fiduciary. So you gotta be still be careful. I’m not sure, but I, I heard that he was, so I’m going to
tom-jackobs_1_07-11-2024_212013: 29:15
well, isn’t he
regina-mccann-hess_1_07-11-2024_092013: 29:16
be careful about that. He is in jail, thankfully. Yes. But, and there are, yeah,
tom-jackobs_1_07-11-2024_212013: 29:22
Well,
regina-mccann-hess_1_07-11-2024_092013: 29:23
right. Right. And But here’s the thing, like with any industry, you’re going to have your good guys and your bad guys and you just have to interview a couple people and get a feel for who they are and what they’re, you know, how they’re going to help you and see if they’re the right fit for you. And that’s where you have to start.
tom-jackobs_1_07-11-2024_212013: 29:42
yeah, a hundred percent. Well, cool. Regina, thank you so much for coming onto the show today and sharing your stories and your wisdom with the audience. I certainly appreciate it. And I know our audience appreciates it as well.
regina-mccann-hess_1_07-11-2024_092013: 29:53
It was absolutely my pleasure. Thank you so much for having me
tom-jackobs_1_07-11-2024_212013: 29:56
absolutely. And to our show listeners and viewers, thank you also very much for showing up today and listening to the episode. I hope you got some good nuggets out of our talk with Regina today. And also please go ahead and check out everything that Regina is doing. We’ll link all that up into the show notes. So you can easily get to that. Just click on those show notes and check it out. Look for her stuff there. And if you could do us one big favor, and that would be to share the show with somebody that could use the advice that Regina has shared with us today. I certainly would appreciate it. I know Regina would appreciate it as well. So go ahead and share that show and share the love with other people in your life. And until next time, lead with your heart
Speaker 2: 30:41
You’ve been listening to the Heart Led Business Show, hosted by Tom Jackobs. Join us next time for another inspiring journey into the heart of business.
