Michael Pennica • Colorado Springs, CO
Pennica Financial Group • J.W. Cole Advisors, Inc.
My practice, based in Colorado Springs, has grown organically through many of the contacts and networking groups that have been part of my entire life, particularly my 23 years in the Air Force. This area has a high concentration of active and retired military, defense-related contractors, and many small businesses related to the military and the bases located here.
But I try to take that a step further by cultivating multi-generational relationships within family circles. The needs of various generations are very different and not one-size-fits-all. People expect information that is tailored to their age group, mindset, and life stage. It is not just about the numbers of accumulation and distribution.
I ask clients, especially those in their 50s and 60s, to bring in their parents and their children for a group discussion. Many are receptive to it—a small minority throws up a wall. But those who take advantage of these kinds of sessions find them very productive. Whether it is a young family just starting their financial plan, a middle generation concerned about making the retirement transition, or an older generation wanting to transfer wealth, the needs can be intertwined. Such sessions not only help me find better solutions for the initial client, but can also help keep growing those circles and lead to new relationships.
Disclosure: Michael Pennica is a Registered Representative of J.W. Cole Financial, Inc. Securities offered through J.W. Cole Financial, Inc. (JWC), member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Pennica Financial Group, JWC & JWCA are separate and independent entities. Non-securities products and services are not offered by JWC/JWCA.
Photography by Paul Wedlake Photography
