Grant

Nelson
FIN 3060
Rich Schega Reflection
11/19/15

For someone who was unable to attend Mr. Schegas presentation, I would

describe the overall experience as both informative and highly applicable. Most of
the subject matter discussed in his presentation, including asset management, risk
management, and tax planning, are topics that we, as CFP students, see on a daily
basis. In addition to touching on these several topics, Mr. Schega took it a step
further by using personal examples from his experiences to show us how these
topics are applied in practice. He also discussed potential problem areas where he
and his clients do not always come to an agreement. It is important to let the client
have the final say on how the planner manages their assets, but only to the extent
that it does not place the CFP in a position that potentially leads to litigation or other
negative consequences.

There were several great questions that were asked during our discussion

with Mr. Schega, but two questions stood out to me in particular. The first question
consisted of an inquiry involving a client who, for personal reasons, does not want
to take a very necessary step in ensuring their financial security or that of their
heirs, such as purchasing a life insurance policy or developing the perfect estate
plan. Using one of his own clients as an example, Mr. Schega explained to the class
that even though a financial planner may know for a fact that one particular option
is the best possible action to take for his or her client, the ultimate decision still

resides solely with the client. Although the CFP may strongly disagree with his or
her clients decision, they must respect it. The second question that peaked my
interest involved a request for Mr. Schega to determine whether it would be better
to pursue a financial planning career through an investment bank, such as Edward
Jones, or a large insurance company, such as MetLife. Rather than finding a way to
prove that one was better than the other, Mr. Schega simply highlighted the
differences between the two types of companies and further explained to the class
that they both have their advantages and disadvantages. Ultimately, when deciding
which company is better to work for, it is very important to consider how one
companys advantages will suit the needs of the CFP and the clientele being served,
as well as how that companys disadvantages will restrict the desired methods of the
CFP and the goals of his or her clients.

In my opinion, Mr. Rich Schega should absolutely be asked to speak again

when this class is offered again next semester. In addition, I think that Mr. Schega
should be given the opportunity to speak to all CFP students at a Student Financial
Planning Association meeting or a similar event.