Hannah Provost, Financial Advisor, Partner Lomanto Provost Financial Advisors
How do you stay abreast of all the financial information and trends?
I commit a significant portion of my workweek to professional education and development. For the last year, much of this has happened virtually but normally I would be making between one and three trips each year to professional conferences. In addition to consuming financial information, I am fascinated by the developing field of behavioral finance and the psychology that drives decision making. This job is really fun when you consider yourself a student as much as a teacher.
What advice would you give someone who is thinking about hiring a financial planner?
The value in hiring a financial planner is the relationship you will have with them, not just what they bring to the table. In that way, you should treat it like dating – pay attention to how well you connect with the professional that you are interviewing. Do you share the same values? Do you feel they are listening to you? Do they explain things in a way that helps you understand?
What is your average client looking for: investments, retirement, insurance products, estate planning, education, risk analysis, other?
Clients will usually come to work with our firm because they need help filtering all of the information and options out there in order to chart a path toward personal success. We don’t have any inside information or a crystal ball to offer but what we can do is really get to know what our clients are trying to achieve, evaluate what resources are available to them and then put those resources to work in an efficient manner.
What do you view as your greatest challenge/opportunity going forward?
Our greatest opportunity and challenge will be developing financial advisors within our firm. The need for compassionate, individualized financial advice and coaching is growing rather than shrinking and, at the same time, we see established, successful financial planners who followed their own advice retiring. As a firm and an industry, we will need to make an investment in training and recruiting. It is my hope that this “new class” of advisors represents the diversity of the people seeking financial advice.
How did your business adapt to the pandemic?
In five months or less, we advanced our business style by five years or more. At the beginning of 2020, we still relied heavily on traditional forms of communication – in-person meetings, paper documents and one-to-one communication. Out of necessity we became proficient in technology like DocuSign, video conferencing, screen sharing, and broadcast emails. Going forward we feel that we have more tools at our disposal to provide excellent service to our clients.
Lomanto Provost Financial Advisors is housed in the historic Plattsburgh train station on Bridge Street. Constructed in 1886, the building is an inspiration to Hannah Provost and Andy Lomanto as they seek to build relationships and wealth that will last for generations.
Securities offered through Securities America, Inc., member FINRA/SIPC. Andrew Lomanto and Hannah Provost, Registered Representatives. Advisory services offered through Securities America Advisors, Inc. Lomanto Provost Financial Advisors and Securities America are separate companies.
Lomanto Provost Financial Advisors
121 Bridge Street, Suite 101
Plattsburgh, NY 12901
518 324-3005
www.lpfinancialadvisors.com