Month: January 2024
Understanding Behavioral Biases in Veterinary Financial Planning With Dr. Jordan A. Hutchison (Ep. 7)

Understanding Behavioral Biases in Veterinary Financial Planning With Dr. Jordan A. Hutchison (Ep. 7)

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Have you ever thought about how your mind affects your money?

The “Making Hay” podcast, hosted by Marcia Miller, provides veterinarians with essential financial guidance tailored to their profession. In today’s discussion, Marcia teams up with Dr. Jordan A. Hutchinson, Vice President of Technology at RFG Advisory, to explore the critical role of investor behavior in financial planning, particularly for veterinarians.

Key Highlights:

  • “Dr. J’s” expertise in financial technology and planning, emphasizing the impact of emotions and biases on financial decisions
  • The DALBAR study’s insights into the ‘behavior gap’ in investment returns due to investor behavior, and the myth of the Fidelity study about frequent trading
  • The importance of understanding behavioral biases like action bias and confirmation bias in financial decision-making
  • The role of financial advisors in helping manage these biases and emotions, enhancing overall financial wellbeing
  • The discussion on the detrimental effects of herd mentality in investing and the benefits of a long-term investment perspective
  • Marcia Miller and Dr. J emphasize a personalized approach to investment that aligns with individual goals and aspirations
  • And much more!

 

Resources:

Connect with Marcia Miller: 

Connect with Dr. Jordan A. Hutchison:

About Dr. Jordan A. Hutchison:

Dr. Jordan A. Hutchison is the Vice President of Technology at RFG Advisory. His executive leadership expertise in WealthTech, human behavior, and financial planning strategy provide him with the ability to help financial professionals live extraordinary lives. He uses his deep understanding of financial advisors, practice management, and the wealth management business cycle to apply the proper needs to run a successful financial planning firm.

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Navigating the Financial Maze for Veterinarians (Ep. 6)

Navigating the Financial Maze for Veterinarians (Ep. 6)

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Ever wondered how veterinarians navigate the maze of student loans? 

Let’s unravel this mystery in the latest episode of the ‘Making Hay’ podcast with Marcia Miller as she welcomes back Matt Byars. Together, they share crucial insights and personal experiences that could change the way you think about your financial future. Discover why early financial planning isn’t just smart, it’s essential.

Key Highlights:

  • The difference between government and private student loans, with a focus on interest rates and repayment terms
  • The importance of budgeting and financial planning for debt repayment without compromising on life’s pleasures
  • An analysis of veterinarians’ debt-to-income ratio compared to national averages, highlighting better management potential due to higher starting salaries
  • Strategies for recent graduates and seasoned professionals to effectively manage and reduce student loan debt
  • The power of negotiation for a higher salary to improve the debt-to-income ratio
  • Practical advice for living within means and aiming to pay more than minimum on loans
  • The importance of avoiding unnecessary borrowing and investing wisely
  • Encouragement to seek professional financial planning help early in one’s career
  • And much more!

 

Resources:

Connect with Marcia Miller: 

Connect with Matthew Byars: 

 

About Matthew Byars: 

Matthew’s road to wealth management started in college, when he was majoring in Finance at UAB. There, he found his passion for the technical side of business, asset management, and the many other aspects of finance. From there, he knew that he wanted to pursue a career building value through the skills that I had developed in my studies, so he decided to go to business school at Clemson.

After earning his MBA, Matthew was fortunate to pursue an opportunity to realize one of his dreams to work on the institutional side of asset management for the London Stock Exchange in both Charlotte and New York City. After spending 5 years working in that field, he realized that there was something missing.

Matthew  decided to move back to Birmingham and pursue a career in wealth management and  was lucky enough to connect with Marcia. They work as a team. Marcia has been serving clients for over 25 years and Matthew brings institutional experience that gives clients insight and access to some of the technical skills that traditionally only corporations have had access to, really helping them to bring a holistic experience to their clients.

Outside of the office, Matthew’s main priority is spending time with his wife Amanda and their golden, Charlotte. In his free time, Matthew likes to go golfing and spend time with his friends and family at the lake.

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