Navigating Your Financial Future: A Guide to Wealth Management
In this episode of The Best Dam Podcast, Jill sits down with Heather Sabatello, a dedicated financial advisor with Edward Jones in Boulder City. Heather shares insights from her second career, explaining her passion for helping clients achieve their financial dreams and build generational wealth.
From the importance of starting to invest at a young age to the profound "aha" moments that define her career, Heather demystifies the world of
wealth management and emphasizes a client-first, team-based approach to securing a prosperous future.
DISCUSSION
- A Holistic Approach to Wealth: Growing, protecting, and organizing wealth, with a focus on estate planning, legacy, and insurance to create a
full financial picture. - When to Start Investing: Heather advises young people to begin investing in a Roth IRA as soon as they get their first job to take advantage of
tax-free growth. - The Advisor-Client Partnership: Learn why the relationship with a financial advisor is a partnership, working together to reach the client's
specific goals. - The First Meeting: Heather walks through the initial process, which starts not with numbers, but with understanding the client's personal goals,
family, and even their psychological relationship with money. - The"One Basket" Myth: Heather explains the importance of diversifying investments across different sectors, not necessarily across different
advisors. - The Power of a Team: A financial advisor doesn't work in a silo. Heather emphasizes the importance of collaborating with a client's estate
attorney and CPA to ensure everyone is on the same page for a cohesive financial and legacy plan. - The"Aha" Moment: Hear the touching story of how Heather helped an elderly, wheelchair-bound client fulfill her dream of traveling by
connecting her with an organization called "Wheels Around the World," reinforcing her mission to help clients live their best lives. - From Education to Finance: Learn about Heather's first career in the for-profit education industry and how a shift in industry ethics led her
to a more fulfilling role at Edward Jones. - A Lesson from Mom: Heather shares the powerful and simple advice from her late mother that guides her through challenging times and down markets: "This too shall pass".
- Staying Informed: Heather offers a weekly market update email, available to clients and non-clients alike.
LEARN MORE
To learn more about Heather and her work at Edward Jones, visit her website at www.edwardjones.com/heather-sabatello.
KEYWORDS
Heather Sabatello, Edward Jones, Financial Advisor, Boulder City, Wealth Management, Retirement Planning, Investing, Estate Planning,
Legacy Planning, Boulder City Chamber of Commerce, The Best Dam Podcast
#HeatherSabatello #EdwardJones #FinancialAdvisor #BoulderCity #WealthManagement #RetirementPlanning #Investing #EstatePlanning
#LegacyPlanning #BoulderCityChamberofCommerce #TheBestDamPodcast
Podcast Transcript
Jill: Oh, I'm so excited for our listeners to be able to get to know somebody that I think is just marvelous. She's an amazing lady. I have had so much fun getting to know her and I want you all to know her as well. Ms. Heather Sabata, she is with Edward Jones. She's a financial advisor and has become quite a friend of the Boulder City Chamber, and so this is such a lovely opportunity. Thank you for being here, Heather.
Heather: Thank you for having me.
Jill: So Heather, you have a big role to play, right? So for you to be a financial advisor, a wealth manager that, advises people on what to do with their money and secures their future. That's gotta be absolutely. I inspiring and I'm imagining. How good that makes you feel?
Heather: Oh yeah. I mean it's, I could not have picked a better career for the second career in my life, but, I just zero regrets. This is just so rewarding and I love every single day.
Jill: I can imagine, and I can imagine making people's lives better. I would imagine too, there's some days that you're like, the market did not quite go where we all wanted it.
Heather: Sure.
Jill: That can be a little nerve wracking, but I would imagine just, the average, most of us that are invested with you, the average that we're looking at across the year, we, we're looking at those numbers year end. It's scary to watch it day by day. So I'm so glad that we have somebody that, pays attention to these things for us, you, that's your job. I don't want it. And so glad that you are there. Can you tell us a little bit more about what all does Edward Jones offer? There's so many different products.
Heather: Yeah, so really it's my job to help, grow, protect, and really help clients organize their wealth, right? So it's helping people not only prepare for retirement, but really live their dreams in retirement, right? It's about a full financial picture and reaching goals and really building generational wealth. Too, and focusing on estate planning and legacy and insurance and anything that has to do with financial goals. and it's, again, it's so rewarding seeing my clients reach those goals and then being able to transfer that to the next generation.
Jill: I can imagine. And I am grateful for that assurance. And there's just something to be said about knowing that things are taken care of and that you're leaving the next generation in a good way, right?
Heather: Yes, absolutely.
Jill: We all want to make sure that our kids have it better than we do.
Heather: Absolutely.
Jill: So such a great thing. So how small is too small to be, we talk wealth and people like, oh, that's not me.
Heather: Sure.
Jill: But how small is too small? And I would imagine, because I know mine is as. Small investment. So how do you normally gauge that and how do we encourage everybody to start somewhere?
Heather: Yeah, so it's funny, I have a 25-year-old son, who doesn't listen to a word I say when it comes to finances. Although I'm a financial advisor, I'm still mom. but I, if I can reach out, we think it's such a miss. In schools that we don't teach this earlier on. I can't ever remember taking a class in junior high or high school about what a 401k is Right. or how we even, budget ourselves or Right.
My mother sat me down when I think I was 12 years old and helped me budget a checkbook the old school way. And I still use a check register sometimes just 'cause. Stuck in my head. But I really stress with our younger generations. The minute you have a job at 16 years old, start putting a little bit of money away into a Roth IRA that's tax regrowth until you retire.
That's huge. and there's nothing else like it out there. So the minute you start making an income. Is when you start should start investing.
Jill: I love that concept and I think you are right. We talk so much about retirement plan for retirement, and so you almost visualize only individuals who are of retirement age that are actually dealing with Edward Jones, right?
Heather: Yeah.
Jill: I think it's very smart and a, a why statement that why are we not doing this in schools? Why are we not partnering with. advisors to come into the schools and talk to them about how simple this is fees, I think in, in many cases scare people, but I have noted that it's not a major, issue for me in my small investment.
I'm very grateful for having somebody that's monitoring it for me for that small fee.
Heather: Absolutely. It's really important to have those fiduciaries keeping an eye on things. And as you mentioned before, there's a lot of scuttle and static out there. And it's really important to have somebody with a cool head that can talk you through and get through all that clutter. 'Cause there's a lot of that in this world right now. and just being able to have. Somebody that can explain, without hearing all the negative out there. and that just sticking with a strategy makes all the difference in the world.
Jill: So when Wendell was the only Edward Jones in, Boulder City, Wendell Whitman just love him. he advised my husband and I not to make an investment and we're like, no, this is gonna be a good thing. We really wanna do it. Oh, dang. Was I ever. Mad at myself for not listening to this very wise man. And going back to that concept, is that a tough one for you to, you're trying to advise much like your son, right?
You're trying to advise and yet we're not listening. And so where, how do you overcome those kinds of situations?
Heather: Sometimes not every client is right for an advisor. Not every advisor is right. For a client, right? It's about finding that right fit of somebody who will, take your advice, right? that will work together with you. It's very much a partnership. it's not me telling my clients exactly what to do. It's still ultimately your money, right? It's about working together to make sure we reach very important. For you. and once, once clients understand that, that's my end goal is for them to reach their end goal, then it really becomes a beautiful partnership.
Jill: I love that. And so is there a fee to come in and meet with you that first time and get to know each other and see if it is a good. Fit?
Heather: Absolutely not, no. Everything. The minute somebody gives us a call and has questions or isn't sure where to even begin, which is usually how it goes with us, they come in know there's absolutely no charge for consultations, nothing to sit down and have a conversation. I will let you know right away if I can help you or I can't help you, or if it's the right fit. and then we go from there because there's a lot of different ways, to pay for advice, with a financial advisor. So it just depends on what works for the client.
Jill: I love that. Okay, so I made it in the front door.
Heather: Yeah.
Jill: We've had our first meeting. I feel comfortable and now it's time to do. What do you do? I bring in my gobs of cash and silver and gold And set it on your desk. How, what it, walk me through this process so people who have not been. Part of, an a any kind of a program like this, they understand what they need to do.
Heather: Yeah. So really it starts with the conversation. What is it that you're looking for? Are you looking to get a second look on your current investments? Have you never invested before? Whatever that looks like, whatever statements you have, usually you come and you bring those initial statements or concerns with me.
And before I look at any numbers, before I look at any money, I wanna know you as. A person, I wanna know who your family is, what your goals are, what issues, and trials you've had in the past. When it comes to finances and money, a big part of what we do is psychological because so many people have been stuck in this negative relationship with money.
And a lot of that comes from us being raised as children, watching our parents just stress over the bills, sitting at the dining room table. And that's what we're built to be afraid of money. And I don't want that to be the case, right? So it's really just about initially taking a look, understanding, listening what you need, and then from there we build a plan together if it looks like it's gonna be a good fit, whatever that plan is, based on that individual's goals.
Jill: Very good. And you can make arrangements for them to have a monthly, allotment coming out of whatever their funding mechanism is and you handle all of that. It's a digital process. Nobody has to be scared. They can, they don't have to bring a check into you every month. It's all very simple.
Heather: We make it. Simple as we possibly can. And again, if that is the goal to make a monthly contribution to some sort of investment, we absolutely can do that, on a, seamless to where you don't even notice it's missing. So we make it as seamless and easy as possible.
Jill: That is awesome. And so now I'm on the other end of the spectrum. I have been an investor for very many years. May not feel like I am getting the most out of the person I'm currently with. I would imagine a transfer of, their assets to you that can be managed as well.
Heather: Absolutely. Yeah. And that's a big portion of our clientele right now are our clients that haven't really felt heard by their previous advisors.
And so they want a second look at their investments. And even if investments are. Are good on paper. Sometimes they aren't the right investments for that individual and their particular goals. And if there's not been an advisor that's heard what their goals are or what their end game is, then how do they know that they're investing the right way?
So as a fiduciary, it's my job to make sure that clients are invested in what's right for them and not what's right for me.
Jill: I love that.
Heather: That gets missed, I think a lot with a lot of advisors.
Jill: And so I have been taught in the past, and you can let me know if this is not the right thinking, maybe it's more of a myth that we should, spread our investments out amongst multiple investors or, fiduciaries. if I have money here, I have money there. And then if, that way if there's any one problem with any one person, you don't lose. All of your eggs aren't all in one basket.
Heather: So I would say you really wanna make sure you're diversified across. Different types of investments and sectors, okay? That doesn't necessarily mean a among, amongst different fiduciaries, okay?
Sometimes it might mean that, right? we do have that where an, a client may have multiple financial advisors. However, there is something to be said for consolidation. and if just a doctor, right? If you go see one doctor and he doesn't know information you've given to another doctor, they could be prescribing medication that's gonna work against each other.
Jill: True.
Heather: It’s the same with. Finances, right? If I don't know what you're discussing with another advisor or how you're invested somewhere else, I may be hurting you by investing you too heavily in one particular area or not enough.
Jill: Oh, yeah.
Heather: So it's really important that even if you don't hold all of your eggs with one fiduciary that we do understand where all your investments are allocated so that we can help you in the best way.
Jill: Ooh, very good point. Hadn't really thought about that, and I know that I've not been good about that. There's something in my mind. I do like the consolidation concept 'cause I, if something were to happen to my husband or I think it would be a heck of a lot easier if everything was in one place. You can make that a very smooth process when needs be.
We did that when with our family trust. I was so grateful that I know that if something happens, Woodbury law is where they're gonna go and they're gonna find all that information. So if I knew that, all I had to say was, you just need to talk to Heather. It's. All taken care of.
Heather: Absolutely. And I'm glad you brought that up because it's really important that I do work with a team, with my clients, with their estate attorneys, with their CPAs, because these are conversations the three of us all need to work on for the client, especially God forbid, that something happened to the client that we're all on the same page.
Jill: Okay.
Heather: So it, when I have clients who don't have a trust set up, it's important to me that we explain the. Importance of that, with them, and get them in contact with the right estate attorney so that we are all on the same page because legacy and estate planning is an important part of what we do.
Jill: I am grateful to know that 'cause there is a combination and I'm loving that team approach.
Heather: Absolutely.
Jill: And glad that you also have that. Same mindset because it isn't just you in a silo. You do need to work with multiple people that are part of their overall family plan.
Heather: Absolutely. Great. I'm loving that.
Jill: I would imagine that in your career you've probably had an aha moment. Have you had something that stands out as an aha moment for why you do what you do?
Heather: Oh gosh, yes. Actually, I do, I have a client, who is an amazing woman and she had an amazing career. she's in her early eighties at this point. And she did all the right things with investing and. She's now, unfortunately, wheelchair bound. And unable to take care of herself fully.
And her goal has always been to travel and she had a conversation with me during one of our reviews and she's. Said, I have all of this money Heather and I have, I can't use it because I'm in this wheelchair. And so I actually helped, hook her up with a company called Wheels Around the World where they help people who are wheelchair bound, travel.
Jill: How cool.
Heather: So that was something that was, definitely an aha moment, right? This is why I do what I do, and this is part of why I made the career change when I did. because my mother was in a similar situation and I watched her pass, she passed away in, in 2016 and I watched her work until the day she died because she just never prepared for retirement. She didn't know how. And I didn't want to see anybody else go through that again.
Jill: That is devastating and, I have a similar story. So very grateful that you. Think, in terms of trying to help those individuals find their best quality of life, right?
Heather: Absolutely.
Jill: I'm so glad to know that there's an organization Wheels Around the World.
Heather: Yeah,
Jill: I'm gonna definitely check that out. It's what Great program.
Heather: It's pretty cool.
Jill: Especially with Boulder City having such a focus on accessibility and being, reminding everybody that we wanna invite guests and be. Good, stewards for those that are in the disabled, category, that they may not be able to navigate our curbs and gutters. They may not be able to hear or see their way through some of our crazy sidewalks. So as we're looking at that, this is such a great thing to make sure that we're paying attention to these wonderful programs. So thank you for sharing that.
Heather: Of course.
Jill: Okay. So I would imagine that you probably have also had kind of a. A funny moment in your life, something that stands out that, the aha makes it warm and fuzzy and you feel good about what you do, but I bet you there's been a time or two that you're like, what the heck am I doing?
Heather: Yeah. and when you start any kind of new career, or new. Business. It's, we all know how that goes, right?
Jill: Yes.
Heather: It's a lot of grind and, as a, starting with Edward Jones, when I started back in 2018, I was knocking on doors when I opened my first branch. And I wanted to get out in the community and let them know who I was and the great firm I was working for and that I was available for their needs.
And I, the middle of summer in Los. Vegas and a blazer is not a ton of fun when you're knocking on doors. And I went up to one particular door and there was a large tree in the front yard, and there must have been a nest in the tree with newly hatched eggs, I'm assuming because the mother did not like that.
I was walking up and this bird literally. Came down at me like, just bombarded me and chased me, literally chased me down the street. So here I was in my blazer running down the street and actually the person that owned the home came out and saw it and gra, had me come into the home.
And that ended up being very good client of mine, still a client of mine. And we laugh about it to this day. yeah, that was a fun day.
Jill: Yeah. That is awesome. And so through challenge, we always. Find something positive on the other side. And we do. Yes. You even being chased by animals. But
Heather: Yes, I was a bird of all things.
Jill: I wonder, you wonder what their postman does.
Heather: I know it's, I expected a dog. Maybe never a bird.
Jill: Oh my gosh. That's awesome. I love that story. And so you have referenced a couple times this being your second career.
Heather: Yeah.
Jill: What did you do before?
Heather: So I worked in the. For-profit education industry. So I started out as an admissions rep for schools like DeVry, Everest Tech Schools. I worked my up way up to a director of admissions, then I became a campus director. And then I was asked to take over a position where I traveled to other campuses helping them increase their revenue.
After 17 years of doing that, I was not happy with the way, the industry was going ethically. and it just wasn't fitting my values. and that's when Edward Jones happened to call, because I was actually, I had an Edward Jones advisor at the time.
Jill: Oh.
Heather: and she said, I think you're gonna, you would be great at this. You have the right background and you care about, helping people, and the rest is history. I took their offer.
Jill: Yeah, that is awesome. What a great thing. I'm sorry that you were driven because of that purpose, but I would imagine somewhat you were exposed to the education educational systems and probably could see that educating and teaching people how to do things the right way. Was something that was of your moral standard, right?
Heather: Correct.
Jill: Kind of one of those compass items that drove you in the right direction.
Heather: That, that's right. That's right. And that's what I loved about my previous position Or my previous career was helping people reach their educational goals. Unfortunately the bottom line was becoming more important in that industry, than actually educating and caring about the students. and that's when I knew it was time to make a change.
Jill: Time to go.
Heather: Yeah.
Jill: And it's interesting how we. Sense those things. So it sounds to me like you, you knew what was happening.
Heather: Sure.
Jill: Okay, let's go back in history even further. What was your first job?
Heather: Oh my gosh. I, I sold shoes at Sears department store when I was 16 years old.
Jill: Awesome.
Heather: Yes. Yes. And I learned firsthand that, customer service is key. And there's a lot of different personalities out there
Jill: Oh yeah.
Heather: That you have to adapt to.
Jill: And a lot of different stinky feet there.
Heather: There really are. Yeah. I started let, just letting them put the shoes on themselves after I,
Jill: I understand your thought process. 'cause I'm not sure I can, I've always, admired. Dentists, podiatrists, people that stick their hands in their yucky mouths. As I just went to the dentist yesterday, I'm like, oh, poor dude.
Heather: I could never be a hygienist ever.
Jill: I am grateful that other people are willing to do it. Same much like yours. I do not want to have all that knowledge. You are one sharp. Cookie. So glad you're willing to do it. Glad they are too. I would imagine that there's probably some things that much like you had said, you want to get to know the client or the potential client, we want to get to know you. I wanna ask a few questions a little bit more about you. What's something that maybe people don't know about you?
Heather: So I am. Incredibly outdoorsy. I'm also a certified personal trainer. I don't do it obviously for work. I just do it for a hobby. Just and just for fun. So I am a huge, summit junkie I like to call it. So I like hiking up very high mountains. It's a, Kilimanjaro is a goal of mine.
Jill: Wow.
Heather: So hopefully next year. also big snowboarder, wake Surfer here at Lake Mead. We're there quite often. Wake surfing. Anything outdoors I wanna do.
So I started mountain biking this last season. I'm not real great at it, but working on it.
Jill: That's awesome.
Heather: So yeah, just. I've competed in four, fitness competitions. just staying as active as I can. I'm getting old and I'm starting to feel it all a little bit, but, body in motion stays in motion, so that's the goal.
Jill: I love that. And I'm glad that, you're right in the mecca of outdoor recreation right here in Boulder City, You are. Great. We just had the groundbreaking, last Thursday for, and that, that gives us the date here. So hopefully I, get this edited quickly. But just last Thursday, that groundbreaking for, the Boulder City Adventure Center because we're such a mecca for all things outdoor recreation.
Heather: Absolutely.
Jill: So you live right in the right place.
Heather: Absolutely. Oh, I love it. I love it.
Jill: That's great. I'm so glad to know that a little bit about you, but there's something about, so I'm also a certified fitness instructor. I teach at dance, et cetera. Very grateful for some of those experiences because number one, it forces me to try to stay within, that thought process of how to pay attention to your body and all of those kinds of things.
But also, I love and enjoy interacting with individuals and obviously you do too. And that's why that line of, of hobby or work or whatever is. So important to you.
Heather: Yeah.
Jill: And making sure you're doing it the right way and teaching people the right way. So it's beneficial to all.
Heather: Absolutely.
Jill: That is really cool. I'm loving that. Okay, so one of our other favorite questions is to ask, what book are you reading right now? A lot of insight comes from this. I, and I have to share, and I share this almost every show. I love asking these really super smart, intelligent people what book they're reading. And it's like Dr. Seuss, and I'm loving that insight.
Heather: I know it's. The worst. So I will be honest, right at this moment, I am not reading one. I am incredibly busy, as you could imagine, so work's keeping me pretty busy. However, I am a big fan of Joe Dispenza.
I have read quite a few of his books and, I just love the idea of the power of positivity. and having that higher power that, that helps us through every day. And I pray every morning and on my way to work, and that's just part of my routine. And, I just, I love reading again, just anything that helps me stay positive in a world of chaos.
Jill: I love that. Yes. The power of meditation and,
Heather: yeah.
Jill: Positivity.
Heather: Yeah.
Jill: Whether it's healing your body, helping to heal others. There's just so much to that concept and you are right in not only the chaos, but even sometimes just, other people trying to bring other people down to make themselves feel better when all they needed to do was just serve others or, try to be live a little bit more of a positive life.
Heather: Absolutely.
Jill: So he has a great message. I'm very grateful for his messages, so I know. That, you are one grateful for your parents. Will you tell me a little bit about maybe something that they taught you years ago, maybe still are teaching you today that is something that you use in your life every day?
Heather: Yeah, again, my mother passed in 2016. but one saying she always said was this too shall pass. and that is a constant thing I hear in my head every time I'm having a moment. Or a day or the world is in upheaval, right?
Jill: Yes.
Heather: like it is often is this too shall pass. And and it's something I actually share with my clients. We, there are years we have down markets. That's just the way it goes. And that is. Not unusual. and this too shall pass, right? And it always has. And it always will, and there's always better days ahead. So that's an important message and something that rings in my, my, my head often from what she used to say to me.
Jill: I love that. That is, such great words of wisdom and I think all of our parents have instilled in us some great things. And, the idea of you can do hard things. Is exactly what you're talking about.
Heather: Yeah. Absolutely.
Jill: And I know that we can all do hard things, just, the mindset.
Heather: Absolutely.
Jill: so I would imagine that you have had, probably a couple experiences with the Chamber. Has there been anything that you find that really stands out that you're, that you would like to share with others? We always like to make sure that we give everybody a moment to share a little bit about their story with their chamber member investor.
Heather: Yeah. I would, I, my initial office with Edward Jones was in Summerland, and then I had an office in Henderson, and now I have this office in Boulder City. And I will say coming to Boulder City, one of the first welcomings I had was from the Chamber. And I felt immediately accepted in, into our little small, our big small town.
Jill: Yes. Our big small town.
I love that.
Heather: And, and when I had my ribbon cutting for my office. It was the chamber that did it for me. and I just, I've always felt that support there. And it can be a little scary opening a new office, even if you've been with the firm for years and years, and coming to a new location, even though Henderson and Boulder City, they're not that far, but they're worlds apart at all at the same time.
Jill: true.
Heather: Having that support from the Chamber made all the difference for us, and I still feel that.
Jill: I really appreciate that. I'm not exactly sure what's gonna happen when I ask somebody that question and they go, actually it was a really negative experience because I'm sure that those are out there too.
And that's, you got learning experiences. We need to hear those too. But I really appreciate that because you've been fun to get to know. And so I would imagine that, your office, you are a busy lady. You are a successful lady, but you're not. Too busy for new clients. Is that about right?
Heather: That is correct. I'm always happy to sit down with somebody and again, if it's a great fit for both of us, we love our new clients.
Jill: I appreciate that. And the other thing I really appreciate is the yearly, checkups. So we get that information as a client, we get that info.
We have the opportunity to come in and sit down and go over things with you. Have you. Lane things, have you helped us understand what was happening with the market? Where things are for us and so I really appreciate those annual checkups.
Heather: Yeah, so we do obviously annual, account reviews, but I also reach out to my clients on a quarterly basis. With a phone call just to touch base seeing how they're doing. Usually we're not making any changes unless we have, something crazy going on. But, it's usually just we're sticking with our strategy and just to say hi and check in. But, and they can see me come in and see me whenever they want, clients, actually, I have some that wanna see me every quarter or twice a year versus just once a year.
I also do send out, and this is for people who also are not clients, if they just wanna get on our email list every single week, I'm sending out market updates or market wraps, explaining in layman's terms what's going on in the market in case you have any concerns or if you're just curious, you can certainly get on that email list, even if you're not a client, and we'll be happy to send those out to you every week.
Jill: Oh, that is so great to know. That is great information. And maybe you can share with me the link to how to subscribe to that in the future, and I can post that for you.
Heather: That'd be great. Yeah.
Jill: That is awesome. I really appreciate that. I know that, I am feeling so grateful for all your services. Grateful that you came today. And I hope our listeners are also grateful for this information. So thanks for being awesome. We sure appreciate you.
Heather: Aw, thank you so much. Thank you.
Jill: Have a great day.
Heather: You as well.
