In May 2014, I blogged about military members finding help from some special financial advisors. You can read that post by clicking here.
When a problem involving so many people is identified; usually studies are conducted, articles written, and things stay the same. It is the nature of the highly regulated and tradition bound financial services industry and government agencies (including the military services and the Department of Defense) to move slowly. However, something different is going on as a result of Financial Planning magazine’s storytelling about the how the lives of our military members and their families can be greatly enhanced through financial literacy and personal financial analysis. Change is coming and it seems to be coming quickly!
You can learn more by clicking here to get an update titled House Approves New Planning Initiatives That Could Stem Military Suicides. The article is on the Financial Planning site, so you may need to click on the advertisement and then look in the upper right corner on the screen to click on “Go to Site”.
My first career was as a civilian employee of three military services and the Department of Defense. My second was as a financial advisor, broker, and insurance agent. I know how valuable it is for those in challenging financial situations to have access to trained professionals who have knowledge about a wide range of topics (not just investing) and who have only best intentions for the client. Unfortunately, access to this type of service is usually limited to those who have money to pay for advice, or assets to invest. That is not always the case with many people, like military members and their families, who need information and services the most.
It is exciting to see leadership in the financial services industry coming from those in the financial services industry who deal with people on a day-to-day basis and from top level leaders in both the military services and the legislative branch. I look forward to hearing more.