I have had a few friends and family members ask me why I would start a finance company, so today I wanted to briefly give you my motives behind starting RTM Solutions.
I have studied business and finance for the last five years and have just recently started my MBA in finance, so it is an area in the marketplace I am familiar with. Moreover, I think a lot of people have been taken advantage of and lied to in the marketplace when it comes to finances, and that breaks my heart.
A few examples are:
- A single mom takes out a payday loan, only to be thrown into the cycle of paying more in interest than the original loan.
- An elderly woman takes out a car loan not realizing that the car was overpriced and that the loan was sub-prime (high interest).
- An 18 year old senior in high school is told that the only path to a quality education is through student loans.
These things are unfortunately common place and not too many people are fighting back against it. What’s more, financial wellness companies that are in existence are all too often tied to bigger financial companies that look at their bottom line more than the clients they are serving. That is not only unethical but it is demonstrably immoral.
If you are in the financial services industry, you ought to serve your clients exactly how you would like to be served in equal circumstances.
From the data I’ve seen in the marketplace and with my personal ethical theory, starting a consulting firm to individuals didn’t seem like the right move. I would not be able to sleep well knowing that my business model is built around people who don’t have money needing to pay me to help them manage their finances. That seems backwards, doesn’t it?
So then the question becomes: How can you reach the people above without engaging them directly? The answer is businesses.
I love small businesses and think that investing and building small businesses is the best way to turn our economy around in America. By partnering with small to mid-size businesses to help their employees do better with money, not only do their employees see return benefits of lower stress, more drive, and clearer goals, the business owners see more production and a better overall atmosphere as the financial stress is being lifted out of their organization. It’s a win-win for everyone.
Financial wellness programs are becoming more prevalent as leadership teams are seeing the value in implementing a system throughout their company. The trouble is, people aren’t too happy with just working a piece of software and moving through cold finance tips and fortune cookie wisdom. The 9 Moves program was built to change that. RTM Solutions is built around personal financial wellness, which means our wellness benefit is built around actually meeting with your employees and guiding them on a path to what we call financial liberty.
What’s more, the employees as well as the business owners can have assurance that we won’t be competing with any of the benefits in place, nor will we be selling our clients anything before, during, or after our sessions. I hate up-selling and talking people into something they don’t know about which is why this plan is personal and 100% transparent. Also, people getting talked into something they don’t know about is why a lot of financial issues occur in the first place.
I’ve had the opportunity to get all of my financial licenses but have since turned it down because I want our clients to know that we have their best interests in mind. We will work with your financial benefits in place (401k, 403b, etc.) and incorporate them into Move #5 of our financial plan, which deals with retirement and investing.
This plan is both structured and fluid so it can reach the most amount of people and have the highest impact in people’s lives. Not everyone’s plan is going to look the same, and that’s the point. But the goal for everyone is to make Moves to reach financial liberty.
Changing this generation and how we handle money so we can model good financial habits for the next generation. That, my friends, is why I started this company. And I am here to serve you.