This feature is a question-and-answer session with a new Blount County Chamber member. So, here we go with our 171st installment visiting with Kim Spencer, owner of Next Step Financial, whose goal is to assist women in transition following the death of a spouse or a divorce. Often, they are struggling to put all the pieces together and figure out what their financial future looks like.
Describe what your Next Step Financial does. As a CFP(r) and a CDFA(r) (Certified Divorce Financial Analyst), I can provide the help they are looking for. I am a fiduciary and provide asset management as well as financial planning. I also teach finance to women of all ages in small groups.
How did you get started? I began in the banking industry in 1987 and stayed for 19 years. Over that time, I progressed through the ranks to become a financial advisor and a CFP(r). I entered private practice in 2006 and started my own firm in 2020.
Who is your mentor? My biggest mentor was the head of the advisor group at the bank I worked for. I was the assistant manager in a branch and a position for a financial advisor came open. He took a chance on me and supported me as I learned the ropes. His name is Jim Baugh, still one of my favorite people.
Describe your customers? They come in all genders and ages. I have couples, both young and old. I also have a lot of singles, mostly women. My clients send their friends to me when they see a need arise, so I have a lot of women that have experienced loss, either through a divorce or the death of a spouse.
What impacts your business environment? I try very hard to stay the course with my client’s assets and not be swayed by the crisis of the day. I’ve been doing this long enough and have walked them through several crashes and downturns, and I understand that jumping ship is frequently the worst decision they can make. As one of the most respected individuals in the financial markets said, ‘The most dangerous words in the financial markets is “It’s different this time”‘ It is rarely different. I work to stay abreast of changes in technology and changes in the laws that impact my clients.
What do you enjoy most about your business? That there is great joy in running your own business on your own terms. Work life balance is much easier when you’re the boss. My clients are the best people in the world and helping them is truly my calling.