For many families, financial literacy begins when a crisis has already hit, often reducing the number of options available to them and forcing decision-making under duress. Proactive financial education can change that story. Financial professionals can help clients avoid hazards by combining practical tools and accessible teaching to reduce stress and build long-term stability. Financial advisor Mario J. Payne, CFP®, advocates the importance and benefits of financial education, as exemplified through his founding of TOAMS Financial, an independent, SEC-registered advisory firm based in Jacksonville, Florida.
Most People Learn About Money the Hard Way – You’re Changing That
Unfortunately, too often, individuals and families’ approach to learning about wills, trusts, budgeting, and debt strategies is reactive rather than taking a proactive stance. Pre-crisis financial education on these topics and others can flip the narrative so that their decision-making is informed and can better weather an economic crisis if and when it occurs. “We don’t teach people how to swim when they’re drowning. So why wait to teach financial skills after a crisis hits?” Mario explains.
Key concepts, such as wills, trusts, tax planning, and budgeting, are most effective when understood before they are needed. Financial advisors should proactively introduce these topics in non-emergency settings, easing the minds of and ensuring trust between you and your clients while also promoting thought-out and calm decision-making.
Equip Clients with Tools – Not Just Talk
Your advice, however, can only go so far without systems to back it. “Knowledge isn’t power until you use it,” Mr. Payne says. For example, his AI-powered estate planning platform, The RELAX Estate, automates trusts, wills, and power of attorney for everyday families. TOAMS Financial wealth education and coaching programs lay out structured steps for clients to follow and provide the technology to combine family financial planning tools with real-time implementation.
Speak to Real-Life Struggles, Not Just Theory
Offering clear guidance on how to avoid probate and debt, protect children’s futures, reduce taxes, and plan for retirement provides practical advice that is impactful in people’s lives. “Most people aren’t trying to get rich. They’re just trying to stop living check to check, that’s what we should show them,” Mr. Payne explains. Avoid using literary jargon and opt for plain English when discussing these important issues. Additionally, education workshops, eBooks, and social media content can help bridge the gap between theory and application, particularly for clients who may feel intimidated by the subject of finance.
Financial Education is a Form of Protection
A lack of literacy can drain a family’s resources swiftly and quietly. Unnecessary court fees, higher taxes, and missed investment opportunities can lead to increased bills and reduced potential financial gains. “Financial ignorance is more expensive than any bill you’ll ever pay,” Mr. Payne explains. Obtaining a competent pre-crisis financial education is similar to having life insurance in the event of the breadwinner’s death, flood insurance before a storm, or legal protection before going to court. Advisors who make teaching financial literacy before a crisis part of a core service provide clients with this protection.
Shaping Generational Trajectories
Long-term change comes from teaching both individuals and entire families, especially in underserved communities. Introducing skills early can break cycles of financial uncertainty and create a foundation for generational wealth. “My goal isn’t just to help people make money, it’s to help them keep it, grow it, and pass it on,” Mario says. By including family financial planning tools in regular conversations, financial advisors can help ensure that today’s progress becomes tomorrow’s legacy.
A Call to Action for Financial Professionals
The role of a financial advisor extends beyond investment management; clients rely on their advisors to provide strategies that safeguard their financial health for generations. Providing preemptive strategies before a client’s first crisis creates the clarity to navigate any challenge and furthers trust between advisor and client. For professionals who believe in the importance of financial education, the opportunity is clear: teach now, not later.
About Mario J. Payne, CFP®
U.S. Army veteran Mario J. Payne, CFP®, has over 15 years of experience in the financial planning sector. He has integrated AI Investing tools with human insight to help people grow wealth, plan for the future, and reduce financial stress. He is also the creator of The RELAX Estate and co-creator of LETB, the first Black-owned AI-backed ETF.
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