Helping Clients In Need Of Financial Education With Jim Conaway

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MBA 26 | Financial Education

The path to financial independence starts with education. However, with so many resources out there, it can be difficult to take that first step. Walking clients who are in this position through this dilemma, Solomon Ali sits down with Jim Conaway of Blue Pacific Solutions Group. In this episode, Jim talks about helping clients in need of education to know what’s best and how they lead them to their investments and identify tax savings. He also shares some client stories where he helped take them from $2,800 a month of cash flow to $6,000 a month.

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Helping Clients In Need Of Financial Education With Jim Conaway

Jim, I am happy that you joined us on the show. It is such a pleasure to see you here at Magnify Your Wealth. The last time I spoke with you, it was about a year and something ago at a Magnify Your Wealth in San Diego. I want to do the honor of introducing you and your company. I am elated that you are here.

Thank you. I represent a company called Blue Pacific Solutions Group. I’m one of several principals in the company and Blue Pacific Solutions Group or BPSG for short. What we do is we market to find clients who are in need of education to know what’s best. How much money should I do that? How should I invest here? What can I do about my taxes? Those are the questions that people come in with.

Jim, is that for everyday ordinary people or people like myself, high net worth? Can you explain that? 

I had a life experience a long time ago and it defined who our clients are. My life experience was when Lorraine and I were having trouble putting food on the table. We were struggling financially. We had some individuals and companies who treated us as if we were millionaires. They did not discriminate in any way, shape, or form that led us. We don’t have a minimum net worth that you have to have in order to work. The thing that seems to set our clients apart is that they have high family values. I know that sounds interesting that we’re talking about a company that deals with finance, taxes, cashflow, but truly the profile of the people that work the best with us are those people who have these high family values and high levels of integrity. One other little detail, they typically are smarter or more experienced than the average bear.

The thing that seems to set clients apart is when they have very high family values. Click To Tweet

Your clients that you work with, what I’m understanding is all walks of life, you’re helping them to make investments and identify tax savings, things of that nature. How did you grow your company because it sounded like you had somewhat of a hard-knocks experience as I did?

What’s interesting on the sidebar, those hard-knocks are incredibly valued because we can tell people to avoid the landmines. I started in the financial services, 8/8/88. I’m popular with the Chinese because of that.

That’s a lot of years of experience and a lot of miles.

I met Lorraine in the industry.

You met your wife in the industry. Was it in the ‘80s? 

It was in the ‘90s. A cute young lady came walking into MetLife and applied for a job. I’m like, “I’ll work with this one.” Three years later, we were married and it’s been a blessing ever since. Lorraine being in my life and being the same background and education that I have, it brings a special je ne sais quoi when we’re dealing with marrieds. I have a depth of understanding better than a lot of people because Lorraine and I had to merge our money and our taxes. We had to figure this stuff out on our own and we did. We’ve been sharing that and paying it forward ever since. Now, our process is simple. We call it in fact the easy process.

MBA 26 | Financial Education

Financial Education: Truly, the profile of the people that work best is those who have very high family values and high levels of integrity.

We do an evaluation. Can we provide any value at all? We then do an assessment, which is where we collect all the data. We also do the strategy session, where we lay out what the strategy is, do the edits like, “A little bit less of this, a little bit more of that.” There’s always a little bit of tailoring, and then the final piece, the why, is your implementation. The schedule of implementation that the client defines for themselves. We call that our easy process.

The average client, I won’t try to give an example. You give me an example of what the average client looks like and what you do for the average client.

It is hard to establish our average client because we don’t dictate who they are. As a matter of fact, I have received a text.

It is exciting to have you and share with the people at Minority Business Access what it is you guys do and how you can help them.

These are people who, if you met them in a diner and had a cup of coffee with them, they’re normal. They are average people. There’s nothing spectacular from an economic standpoint here. She is a mechanic. She’s a stay-at-home mom. They have two kids. They’ve inherited a little bit of real estate from both sets of parents. This is what she wrote, “I’m sitting here reflecting on how far we’ve come since the last Magnify Your Wealth seminar. We went from 2 to 10 properties, from $2,800 a month cashflow to $6,000 a month cashflow, paying $4,000 in tax to get an $18,000 refund in a year. I’m in awe of you and what your team does. It doesn’t seem like enough, but I don’t know what else to say. You’ve single-handedly changed the course of our family’s life and for generations to come. Thank you.”

That, Jim, is touching and awesome. How do people who want to get in touch with you reach out? 

There are several different methods. The easiest method is to go to BPSG.com and there’s a Start here button. You can also give us a call. If you’re a Baby Boomer, that might be easier. That’s (714) 577-8758.

For everybody, could you give that information again? I want them to be able to get ahold of you so you can be a blessing to them or help them in their families and change it generationally like that last family. That’s important because a lot of people don’t know what to do with what their resources are. 

It’s true. That’s where strategic thinking comes in. That’s exactly what we do for people is help them figure that issue. To get in touch with us, you can go to www.BPSG.comand then there’s a simple Start button or Learn More. You can wander around the website or even give us a call, (714) 577-8758.

Jim, thank you for being on the show. After the next session, I would like to get you back to get some more of those great pieces of information that are valuable that can help people. 

I would love to be part of it. Thank you.

 

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