50 YEARS OF FINANCE
Wymer Brownlee Wealth Strategies has been helping Oklahomans with financial strategies for 50 years
Kyle Brownlee is chief executive officer of Wymer Brownlee Wealth Strategies. How have people's financial needs changed in five decades?
Financial advice has been very siloed historically. People have used a certified public accountant at one firm, a wealth manager at another and not discussed household budgeting, business growth strategies, succession planning or ways to enhance profitability with either one. Today, we see more and more clients who want someone to consult on their broader financial situation and offer guidance across taxes, accounting, wealth management, business and personal finances.
What is the greatest challenge facing the financial services industry today?
There's a lot of talk about commoditization and fee compression in financial services. While this causes concern for some advisers, I see it as a motivating factor to help the industry continue to evolve with client needs
and focus on providing greater value and service.
Where is the financial services industry heading?
Due to factors like commoditization, growing a client's financial resources alone cannot be the goal. Firms must help clients view accumulated resources as tools to build impactful lives, communities and legacies. Our integrated wealth strategies, behavioral coaching and accountability focus on these components — not simply asset growth. I believe that the industry as a whole will need to adopt a similar approach to deliver the greatest value to our clients.