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Can AI Replace Your Financial Advisor? 🤖💰 What You NEED to Know | Future of Finance S2 Ep. 27
21 Plays18 days ago
AI is everywhere right now—but should you trust it with your financial future?
In this episode of The Future of Finance, Marissa Wood sits down with industry expert Dee Costa to break down the real role of AI in financial planning—what it’s great at, where it falls short, and how to use it the right way.
From budgeting and goal-setting to emotional decision-making and life events, this episode shows why AI is a powerful tool—but not a replacement for human advice.
🤖 Learn how to use AI to prepare for financial meetings
📊 Discover what AI can (and can’t) do with your money
💡 Understand why strategy, discipline, and accountability still matter most
🤖 What You’ll Learn
- How to use AI as a tool (not a crutch)
- The biggest mistakes people make relying on AI
- Why financial planning is more emotional than logical
- How to prepare for a meeting with a financial advisor
- The real secret to building wealth: consistency over time
💬 Which tip are you starting with this week? Drop a comment and let us know.
👍 Like, subscribe, and share if you want more money strategies made simple.
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Transcript
00:00:09
Speaker
Hi, everyone.
Introduction to the Podcast and Guest
00:00:10
Speaker
Welcome to the Future of Finance podcast, where we break down investment strategies to help you live a better financial future. I'm your host, Marissa Wood, financial advisor and one of the owners of Union Financial Services. And today I'm joined by my business coach and 40-plus-year industry expert, Dee Costa. You might recognize Dee from a previous episode. And if you're new here, you picked a really great episode to start with. And today, Dee and I are going to dive into the world of AI and the do's and don'ts when it comes to using it for financial planning.
00:00:42
Speaker
But before we get started, I'd ask you to please subscribe to our channel. It really does help us. So welcome, Dee. Thank you. Thanks for joining us again on another episode. My pleasure to be here. Yeah.
AI in Personal Fitness: Dee's Experience
00:00:54
Speaker
Yeah. So recently, you and I were discussing how we've been using AI in our personal life. And then, of course, it naturally evolved into how we're going to be using it in our business. So tell me a little bit more about AI use in in your personal life recently.
00:01:11
Speaker
So... Over the past three, four years, I've been on a fitness journey. And i have been working out diligently with a trainer five days a week and trying to run 10 miles a day and eating right and whatnot. But I still had some problem areas that I was dealing with. um and just to be quite frank, I had like a poochy stomach and I couldn't understand it. I'm like, I feel like I'm doing everything right. What is wrong with me? So just on a whim, I sat down on a Saturday morning and I signed on to ChatGPT and I told them how old I was, what I was eating, um how much I was exercising, my weight training routine. And I said, why do I still have this poochy stomach? Yeah.
00:02:03
Speaker
And so right away he came back and said, you need to cut out all artificial sugar. You need to cut out the Quest Protein Bar, sorry, Quest. um Things that were causing digestive upset, which caused bloating. And so – and he said, this is what you need to add. He said, you need to add – Greek yogurt, nonfat Greek yogurt, cottage cheese.
00:02:29
Speaker
And he gave me a variety of things to add, take away, went through all my supplements. I mean, this ended up being a two-hour chat with Chad. I call him Chet now. He's my buddy. I've named him Chet. yeah you got to name of it something. And um so he told me what to eat pre-workout, post-workout. um And I was pretty well on track, but these were some little tweaks that I needed to make. um And so I thought, okay, I'm going to give it a try.
00:02:56
Speaker
I had not eaten dairy in 20 years. I thought it was inflammatory. um So i it was very wild for me to all of a sudden be adding yogurt and cottage cheese to my diet.
00:03:08
Speaker
But lo and behold, within about two weeks, my stomach was starting to flatten. And I thought, holy smokes, this is amazing. I'm like... Wow. You know, I've been working with Chet now on refining all
AI in Financial Services
00:03:24
Speaker
kinds of things. But um the one thing I can say is that ChetGPT couldn't do a single rep for me. I still had to do the work. Okay. So it it gave you a couple of the planning tools, but you actually had to execute it. Absolutely. That is interesting. And it is an amazing world that we're living in where we have that at our fingertips now. I know I've personally put into AI questions about how to clear up my skin.
00:03:53
Speaker
And it it gave me a few tips that I've also implemented and that have helped a little bit. you know I still had to go out and buy the skincare and go to the rmatologist but It is interesting, and i think it can affect every industry, and obviously we work in finance and insurance. And so we want to discuss how we can incorporate using AI technology.
00:04:18
Speaker
into our relationship with the client where we don't feel the need that we're going to be replaced. I think it's just how can we incorporate it all together? um Because ultimately clients pay advisors not for data.
00:04:33
Speaker
They pay us for a plan, for accountability, discipline. Strategy. Yeah, exactly. That's right. Well, in talking with ChatGPT, the interesting thing too was he – commended me on working with a personal trainer because form is everything. You know, you can lift weights, but if you're doing it wrong, you can get hurt. So like financial planning, you can gather data, but if you don't have a strategy, you actually can get hurt, you know, in the case of a stock market decline. You know, um building muscle ah takes progressive overload. You know, I need a human being that can watch me and increase my you know my my weight training according to the expertise and the way they see me lifting. So that that visible, physical,
00:05:25
Speaker
um accountability that I have and that protection actually that I have. Having a personal trainer has made all the difference in the world. And it's very much like having a personal advisor. You know, they know how to help you stay disciplined. I mean, nothing gets accomplished without discipline. Chat can give you all the data in the world, but if you don't follow a disciplined plan, you don't keep up the reps, you get no gains. Yeah. Yeah. And it's only as good as the input that you put in, too. I mean, had you not told them that you were using artificial sweetener in your coffee, it wouldn't have known. that's such a good point. That's such a good point. wouldn't have known to tell you to eliminate that. Yeah. And my age had so much to do with it, too. Yeah.
00:06:18
Speaker
Because someone younger than me probably would have gotten different advice. But he was very, um in fact, Chet, my friend Chet, told me that it, he gave me a disclaimer and he said, you know, check out this data. Don't assume that everything I'm telling you is true, especially at your age. Check with a consultant. Make sure that you're lifting properly for your age. It's just like investing properly for your age. And don't take too much risk, you tell me. Yeah, that is true. And, you know, I think you and I had discussed in the past that having an advisor sometimes takes the emotion out of investing. and
00:06:59
Speaker
Money can be so emotional. It can be scary. It's it's our life savings. it's we're We're working so hard to do every day. We want to make sure our family is going to be OK. um And so, of course, you know market drops.
00:07:14
Speaker
People get divorced. People come into inheritances. They sell businesses. They retire. These are emotional times. And how do you face that alone with only AI? That's right. That's right. Another um thing that's going to happen in life is the death of a spouse. I mean, a i is not going to intuitively know that your spouse died. and To have a financial advisor help you prepare in advance for those eventually i eventualities is important, but also to be there to hold your hand during that period of time. CHAT's not going to file death claims for you. They're not going to walk you through the process. They're not going to hold your hand during market downturns. I mean, life is not a static road. You know things change. And to have that professional be there by your side to help you make very important decisions during, like you said, the most emotional times of your life is super important.
00:08:16
Speaker
It really is. And I mean, that's where we like to issue a bit of caution on using AI for those really important decisions, emotional times in your life. But we are actually pro-AI. We are. You know, we're both using it in our personal life and in business. And I think what an exciting time, too, to be an advisor, getting to incorporate things this AI into plans as well, it's making us more efficient, which allows us to be in front of our client where they need us to be and not doing the data entry in the background, not taking as much time with that. um And so I think it's really awesome. And ultimately, you know, AI helps the client walk into the meeting informed, and then the planner can help them walk out with a strategy. That's right. And that meeting can be a whole lot more productive. So I want to go through with you
00:09:12
Speaker
some of the ways that clients can use AI before a meeting with a financial advisor, whether it's before that first meeting or whether it's before the second meeting when we start putting the plan together, what some questions are that they can put in to AI to feel more prepared and to have that meeting be a little bit more productive. um And so what would you say, you know, some of the things that they can prompt people chat GPT or their favorite AI with ahead of time? I think one of the things that a lot of people fail to do is understand how much money they're spending.
00:09:50
Speaker
So maybe using chat GPT or some form of artificial intelligence to help them analyze their expenses. you know and really track where they're spending so that when they come to a financial advisor, they've got somewhat of an idea of where the money's going and perhaps a budget so that the advisor can actually advise – What part of your income are you able to save and invest invest for the future? Where might we be able to cut back on some of these expenses or pay off some debts, things of that nature? So I think it would be very helpful to come in prepared to talk to a financial advisor with a full...
00:10:38
Speaker
budget um analysis, if you will, and a spending analysis, um you're not going to lie to AI, you know, and you you come in prepared like that. And boy, that that would take probably 30 minutes from an interview of trying to gather that information. And sometimes you can't think of that off the top of your head when you're meeting with someone. So taking time to prepare for that, I think would be, you know, a really, really great idea.
Using AI for Financial Planning
00:11:05
Speaker
Yeah, I mean, I know a lot of times when we do meet with someone and one of the first things that we ask when gathering data is, what are your monthly expenses? And most of the time people look at us with big eyes and they're like, oh I don't know, I'm going to have to figure that out. Or they'll throw out a number and it's, usually a whole lot less than the actual number. And so they'll say, oh, you know, I think it's about 5,000 a month. right And then we'll give them a spreadsheet and or we'll say, OK, really do track it the next couple weeks before our next meeting. right
00:11:39
Speaker
And then they show up to the next meeting and say, it's actually 8,000 a month. I forgot all of these items. And now we have to kind of backtrack with their plan. And it's fine.
00:11:52
Speaker
It's part of our job. But it can save so much time for the client and us if they can have that budget, that expense number ahead of time. Yep. And that's exactly what I'm talking about. There's so much guesswork that goes in into everything. You know, even on my fitness journey, you know, i you read things on social media, you Google, you know, clean eating and this and that. But unless you really dive into the details and take the time to peel back like I did and put every single thing, including artificial sugar, into ChatGPT, the diagnosis would have been different. Yeah.
00:12:31
Speaker
So to take the time to diligently map out those expenses, map out where the money's going, and be super honest about it and upfront, the clearer and cleaner and better you're going to be prepared to meet with your financial advisor.
00:12:47
Speaker
Yeah. Yeah. Put the right information in there for sure. I've actually had a client approach me before saying, oh, I'm so excited. I'm going to be um having no mortgage in six months. You know, I plugged in what I've been paying. into chat GPT and it told me that I'm going to have my mortgage paid off in six months. And I'm like, hmm. And I'm looking at the balance of their mortgage and what they're paying. And I'm like, I don't know. The math does not seem to be adding up. Let's let's go through this. Well, of course, they put in the wrong information into AI. And then so then it can only be as good as the information you give it. And then
00:13:26
Speaker
verify it as well. Don't just blindly think, all right, I'm debt-free in six months. yeah um But yeah, I think that is that is something that is is very important. And then the other question, too, that I would love if people had knowledge of before a meeting is putting in the prompt, how much should I have saved by age?
00:13:50
Speaker
Insert your age here. And It actually will give you a number of, you know, you should have by age 30 maybe one times what your salary is. By this age, it should be two times your salary. And, of course, that's going to be personal per what everyone's salary is. But that does give a person somewhat of an idea if they're way behind or if they're on track or if they're – really doing better than most of their peers that age, which can guide the first meeting.
00:14:26
Speaker
You know, I know that I'm behind. Right. And so I need your advice or i think I'm on track. What can I do better? Right. That knowledge is is nice because I have seen even just this past week, I met with a pre-retiree couple. They're about 63 years old. They had never met with an advisor before.
00:14:48
Speaker
Wonderful potential clients. I think we're going to be able to help them. And they did say, are we anywhere near on track? You know, here's our statements.
00:14:59
Speaker
Here's what we think our bills are. Once again, we think, but are we anywhere near on track? Are we way behind? Is this, they had no idea. Right. And of course I couldn't tell them that very second I had to, I was like, I'll get back to you on that. Um, but I think they were hoping to hear, oh yeah, you're, you're going to be perfectly fine. Um,
00:15:21
Speaker
But people really don't have any idea the range that they should be in, how much that they should have saved. And it can it can help that meeting at least be a little bit more of here's what to expect. m i know I'm behind or I know I'm ahead of the game. Have you found that that a lot of people want that?
00:15:44
Speaker
almost ah verification that they're going to be okay? Absolutely. Absolutely. Everybody wants to know if they're going to be okay, but they don't. We have to define what okay is, what is okay. That's different for everyone. And so something else that chat might help with is how much money am I going to need to retire? Now, they're going to you know, obviously, again, like you said, data is important in terms of what you input um to get that answer. You know, are you going to travel? are you You know, what are your plans in retirement?
00:16:20
Speaker
One retirement could be very expensive. Another one could be not so expensive. So getting, you know, artificial intelligence to give you kind of a target might be kind of fun. Now, how accurate that is is very questionable. And I think that's where personal advice, personal advising really comes into play where you let them dream a bit about the future. You know, do you, you know, do you want to retire young?
00:16:48
Speaker
Are you, do you love your job so much that you're going to retire later in life? Can you afford to put off, you know, taking your social security? There's so many elements that go into that. So it's kind of hard to get a generic answer like that from chat. Um, because everybody's situation is so personal. But I think people sometimes underestimate what it costs to retire and really like live the life that they want to live. So maybe getting a ballpark going in, just a picture in their mind to, as you were saying, to know, am I on track or am I not on track? And
00:17:26
Speaker
I know that you're so terrific at helping people find ways to save money, find ways to be more disciplined. um A little bit today goes a long way for the future. And um it's just like a couple extra reps at the gym. You know, you build a little more muscle every single day. Your bones get stronger. You feel better. And each day, each month, you see those gains. And it reminds me so much of of financial planning is working with someone that helps you maybe out of the chute. You can't save a ton to start with, but you can do it a little bit more, a little bit more, a little bit more. And that's where those quarterly reviews, annual reviews, um you're helping people tweak their plan and
00:18:13
Speaker
moving them closer and closer and closer to their dreams. So it's exciting. It is. yeah And you just said something that that made me think it fitness and finance are so similar because a lot of people, I think, are scared to even get started with working out because
Parallels Between Fitness and Finance
00:18:29
Speaker
it's daunting. Where do you begin? i only have 15 minutes a day maybe to do a home workout or – I know my body can't handle more than 20 minutes on the treadmill. And so why even bother? Everyone else is working out for an hour and you know I'm not going to be able to keep up.
00:18:48
Speaker
And i think a lot of people feel that way with investing too. I know I can only save $200 a month, so why even bother? It's not going to make a difference. yeah I don't have enough to get started. um And that's just not true.
00:19:04
Speaker
You're so spot on. I was reading a book on the way out here, and it's written by a Navy SEAL. Really great book. I'm going to get you a copy of it. And it's called In. And obviously, the training that someone has to go through to become a Navy SEAL is excruciating, and very few people make it through that.
00:19:25
Speaker
But the advice that he gives people is exactly the advice you just gave your your listeners is you got to get started. He said, especially when it comes to physical fitness and financial fitness. And he talks about both in the book, both very, very important. He said, people are always waiting, you know, when i when my job is not so demanding, when the kids get out of the house, when, you know, if there's always some future date when you're going to start.
00:19:55
Speaker
with physical fitness, he said, start with one push-up. People could commit to one push-up. You know, he said, and you'll be surprised within a week, you're doing three push-ups. And then all of a sudden, you feel really good about yourself. So you're doing 10 push-ups. He said, then you add maybe a mile walk onto that. and It doesn't become this, oh, I've got to carve out two hours a day to to go to the gym or to become physically fit. It becomes lifestyle.
00:20:24
Speaker
Very similar um advice that he gives with financial fitness is start somewhere. The hardest part is that first step. Pick up the phone. Call a financial advisor. If you want to talk to chat first and – Feel like you're a little bit more competent going into the meeting. Maybe you want to Google some financial terms or something. Yeah. What is the difference between an IRA and a Roth? That's another good one to in. Exactly. Exactly. So that you feel like maybe you're a little bit more prepared for the meeting. That's awesome. But take that step. Make that call.
00:21:00
Speaker
you know Whether it's $100 or $100,000, you've got to make that first step. And just like physical fitness, boy, does it feel good. I know at the end of the day when I've done my reps and I've done my steps and I've you know followed the plan, it doesn't feel like, oh, you know I had to go to the gym today.
00:21:23
Speaker
It's just part of my life. And I know I'm getting stronger every single day. And that's what happens with finances too. that Nothing is more important in life than discipline to me. It's all, you know, the destination is the destination, but it's the journey that gets you there. And it's that taking that first step is so critically important. That's so true. And I think that should hopefully inspire some of our listeners to take that first step. It doesn't need to be all or nothing. It doesn't need to be an extreme case.
00:21:55
Speaker
It can just be a little bit at a time. And then once you start seeing that compounding interest, too, that's amazing. It's like, OK, you know, maybe you got started and you had to back it down for a couple months or even a year. And guess what? Your money is making money for you. That's right. While you sleep. That's right. um Just like the way when you are used to working out every day and you have those muscles built. If you do go on a one week vacation and don't get all of your reps in when you do pick it back up, your muscles remember. That's right.
00:22:29
Speaker
You know, it they pick right back up and it's not like you lost all of that progress. That's right. um Which I have to remind myself too because i don't like missing a workout. I'm very regimented with everything in my life. um But sometimes it is about balance. Right. Just getting started and then getting back on track when you can. Yeah.
00:22:52
Speaker
Yep. And I think, you know, when you look at satisfaction in life in and you think about people that you see every day, they're kind of full of joy and you wonder what's different about them. I would bet if you sat down and talked to them, they don't have a lot of financial worries. Yeah.
00:23:12
Speaker
They might not be rich. They might not have all the money in the world, but they know they're on a track. They're probably physically fit. They're probably taking care of themselves. there are There are certain things in life we can control, and those are two of them. you know I can't control um the stock market.
00:23:30
Speaker
I can't control if someone dies. i can't there There are certain things out of my control. But I can be prepared to weather those ah ah events. Just like you're saying, when I travel, there's not always a gym at the hotel. so can I take the stairs? Yeah. You know? um Good point.
00:23:52
Speaker
And I just – it's just so funny to go through life. I had such an interesting conversation with this woman on the airplane yesterday and – she just seemed so upbeat and so – she looked fit and – I don't know. She was probably thinking the same thing about you. I was happy to be sitting next to somebody that you know didn't have the headphones on and you know Googling the whole time. She was very interesting to talk to, but she was definitely into fitness. And I finally – and she just had this sparkle about her and I said –
00:24:24
Speaker
What do you do for a living? And she said, I'm a financial planner. And I'm like, oh, my favorite industry. yeah And she said, I just love helping families. She focuses on estate planning and she had just been to California to settle a very, very large estate. um But she said, it is just so satisfying to me to see people achieve their dreams and goals and to have that stress come off, knowing they've taken the first step in the journey and watching them, you know, climb, ascend that mountain. to achieve everything they want in life. and um It is rewarding. It is a rewarding there job. And I just think the clients that you serve too are so much healthier emotionally. They know they've taken the steps. you know They know that that you've got their back. They're not in it alone. Chat can't do that for you.
00:25:19
Speaker
yeah But Marissa can. Yeah. And that kind of brings us to one of the last prompts that I think would be a great idea for people to plug into AI before a meeting. And that's what financial goals should someone my age be thinking about? Because that is in that first meeting, we talk about goal setting and finding out what it is people want their money to do for them. Because you can have all the money in the world, but if you don't have a use for it, then what's the point? yeah um And we will talk about, you know, what are your goals? And a lot of times I get a blank stare. People are like, I don't know what my goals are.
00:25:59
Speaker
What should my goals be at 45? Not sure. Well, okay, let's ask chat GPT. Of course, it's individual, but is your goals making sure you pay for your children's college? Is it... Is retiring by a certain age? Is it having – Buying a second house, a summer home. Yeah, true. A boat, a car. Yeah. i mean Is it paying things low taxes, having tax-free income? Yeah. yeah um Is it making sure that your kids don't have to take care of you if something happens to you? That's a biggie. long-term care event.
00:26:36
Speaker
And you would think that at 45, people wouldn't probably think about that too much. But I'll bet there's a lot of 45, 50-year-olds out there that are taking care of their parents right now. We've all experienced it. I've experienced it. And I don't think there's a parent...
00:26:53
Speaker
that I've ever met, nor do I think on the face of the this earth, that would want to be a burden to their children. You know, obviously, children love their parents, and they're happy to do it if they can, sometimes financially or physically, they can't. But none of us, I mean, I don't want that to be my legacy, you know. I mean, how would you say your goals are different than your son's goals right now?
00:27:20
Speaker
Well, my my son is – we're going to talk in a later episode about my son and his wife and their finances, which is going to be kind of fun. But my son's a s saver.
00:27:31
Speaker
So he he definitely wants to retire young. um He's got lots of ambitions to do things, but you know having a full-time job and – Raising a young child you know requires that he work and work hard right now. But he is a big-time saver, a big-time investor. He loves to call me and tell me where his accounts are at. And and what is he saving for? So he wants to pay pay down his mortgage as quickly as possible. They have very little debt other than their mortgage. But in California, mortgages are big. So that's kind of a big nut.
00:28:03
Speaker
And um his... He's gotten into art artificials artificial intelligence and he's a meme creator. And he's actually starting to make some decent money monetizing his memes. And so my mathematical wizard son all of a sudden has shown this creative side. It's interesting that he's he wants to save enough to pursue his passion versus having to do –
00:28:37
Speaker
the number crunching job that he does right now, which pays the bills, he wants to pursue the creative passion pursuit that requires saving enough money to allow him that transition. So he's got a big dream. And I see him moving closer and closer to it. The only reason he can do that is because he is so diligent. he's I'll just tell you now, this is going to be a little bit for the next episode, but he's got an 840 credit score. at forty He'll be 40 in April.
00:29:08
Speaker
That's pretty incredible for a 40-year-old.
Balancing Financial Stability and Passion
00:29:10
Speaker
Yeah. Just bought ah a new car. Congratulations to him and to you as well. I'm sure you're proud. I'm super proud of him. That's awesome. You know, we all have to work for a living, but if there's a passion that you want to pursue, like music or something else, you know, don't just think about the financial goals, but think about the passion goals. Oftentimes they require money to get there, but your financial advisor is your friend and your mentor, not just your money, chain you know, your money cringer. Exactly, yeah. Yeah, that goal setting is so important, and that is something that
00:29:46
Speaker
We'd encourage clients and prospects to start doing before you come in, to have an idea on a couple of the goals that are out there and which ones you feel like you connect to or resonate with you. um And if if not, we can help you do that. But... If you want to incorporate ai ahead of time, of course, asking how much should someone my age have saved approximately? What are some goals that I should be thinking about?
00:30:16
Speaker
Calculating your monthly expenses and budget ahead of time. And then, of course, putting in there a couple terms that you'd like to learn about what an IRA what When can people start taking Social Security? These are all good questions that can really make our meeting so much more productive. Yeah.
00:30:33
Speaker
Something else that just jumped into my head while we're talking is bucket list. You know, when when you get that blank stare when people don't really know what their goals should be.
00:30:46
Speaker
And this takes a little bit of effort, but i would I would suggest putting together a bucket list. And maybe chat can help you do that. Give me some ideas of of what should go on a bucket list. At least it gets the thought process going. Like some things that I've been thinking about for myself recently, um and i've I've got a kind of a short bucket list. um Need to make it a little bit longer. But it's to learn how to play the piano. You know, at this age in my life, I want to I love music. I want to contribute somehow to music. So I want to learn how to play the piano. I want to take piano lessons, buy a piano. You know, things like that that require savings. They require an investment of time and money. So it can be simple, simple little bucket list items that if you share with your planner, why keep the bucket list in the bucket? You know, let's experience some of those things now. That's cool. Thank you for sharing that. Oh, I'm excited to hear your progress on that. I'm going to be checking in this year. I've got to take the first step and get the piano. That is awesome. So yeah, I would encourage everyone to start putting some of those prompts into AI and then, of course, schedule a call or a meeting with us to review those answers and to review what our suggested next steps would be. We'd be happy to meet with anyone complimentary. Of course, you can just head to our website, union-financial.com, click schedule a meeting where you can book a phone call, Zoom call, or in-person meeting and start working on your financial plan so that you are as financially fit as possible. And remember, you know, if information alone created wealth, everyone with Google would be financially free.
00:32:32
Speaker
Absolutely true. But what actually creates wealth is consistent, disciplined action over time. Absolutely. So Dee, thank you so much for joining us again today. You always have an incredible way of telling stories and connecting. So it really is a privilege. It was so fun. Thank you. Thank you all for tuning in to another episode of the Future of Finance podcast. I'm your host, Marissa Wood, and we look forward to helping you live a better financial view
00:33:01
Speaker
Investment advisory services offered through Brookstone Capital Management, LLC, a registered investment advisor. BCM and Union Financial Services are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents. The opinions expressed by Marissa Wood and guests on this show are their own and do not reflect the opinions of this radio station. All statements and opinions expressed are based upon information considered reliable, although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Investments involve risk and otherwise stated are not guaranteed. Past performance cannot be used as an indicator to determine future results. Any strategies mentioned and may not be suitable for everyone. Information expressed does not take into account your specific situation or objectives and is not intended as recommendations appropriate for you. Before acting on any information mentioned, please consult with a qualified tax or investment advisor to determine if it's suitable for your specific situation. This program is designed to provide accurate and authoritative information nation with regard to subject covered. Indexed or fixed index annuities are not designed for short-term investments and may be subject to caps, restrictions, fees, and surrender charge as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the insurer. Please refer to our firm brochure, the ADV 2A, item 4, for additional information. Any comments regarding safe and secure products and guaranteed income streams refer only to fixed insurance products. They do not refer in any way to securities or investment advisory products. Fixed insurance and annuity product guarantees are subject to the claims paying ability of the issuing company and are not offered by Brookstone.