Andrew Rice

That recession was hard on all of us. Valuable lessons were learned. Andrew Rice began his career as a financial representative at Northwestern Mutual in 2007, just before the economy nosedived. Here’s what he learned battling on the recession’s front line.

I don’t know too many people who can say, “Hey, the recession is over.” There’s certainly people smarter than I that can’t really put a finger on it.

Last fall, I got to hear Steve Forbes of Forbes Media and John Schlifske who is the chairman and CEO of Northwestern Mutual speak. They both said, “Yes, there are signs that we’re coming out of a recession, although it will take time for the economy to fully recover.

Now they are referring to (the economy) as the new normal, a time when people are starting to plan longer in advance and not take as many risks with their financial foundation.

I don’t think I’ve ever called a client with a tip or a hot idea. That’s not really our wheelhouse. We’re not constantly watching the ticker symbols across the screen to decide who we need to call and tell to buy.

It’s not all about the market. You must financially strategize and consider risks about other things in your life such as job security, becoming disabled or sick, etc. when you consider your investments.

I think that with the economy, people are starting to change the way they feel about financial security. They’re starting to realize that the market and economy are unpredictable, and more people are seeking professional guidance to make sure all monetary needs are met and secured

Meet with your financial professional more than once every five years. Bonds with a client are most important, and I believe that if you have a solid relationship based on trust, then the communication will be there to handle things correctly when they need to be handled.

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