PHILADELPHIA, PA, August 27, 2013 /24-7PressRelease/
-- As the president of Kabarec Financial Advisors in Chicago, Mike Kabarec
has proven himself an effective business leader, as well as a skilled investment management professional. Kabarec, and his associates, continue to serve a wide array of clients who turn to the firm for guidance on wealth and investment management. Although Kabarec Financial Advisors has been in business since 1982, the need for improved financial services has greatly increased in the United States, especially as more Americans look for trusted insight on fiscal management following the recent recession. While this growth in financial services needs may inspire many entrepreneurs to establish their own independent firms, Kabarec warns that not every new practice may prove successful.
While there are many immense benefits to be had from running an exceptional financial services firm--and advantages to using one--Mike Kabarec points to a recent article from Forbes that illustrates the many challenges that new practices face. Sharing this sentiment, the article reveals, "Building a new financial services company, or any company, is challenging. The potential upside is worthwhile--particularly within financial services--but the roadblocks make success difficult to attain."
Among the many mistakes that a new financial services firm may make, according to the article, are lack of regulatory compliance, failing to have enough capital, inability to build trust and false expectations for accurate financial data. Mike Kabarec responds, "Interestingly, these are all mistakes that any new business owner could make to prevent his or her company from becoming successful. However, since a financial services firm's success is based upon the success of its clients, these factors are amplified even greater. For the entrepreneur looking to start a financial services firm, it is important to not only have talent in your field, but also adept knowledge of running a business. More importantly, for the client, it is essential that you look for all these qualities, especially if you are seeking assistance from a firm still in its infancy."
Given his observations and experience in the field, Kabarec notes that one of the most important notes made in the article is the necessity to build consumer trust. The article explains, "Trust cannot be established overnight; it requires constant effort. The earlier you connect directly and authentically with customers, the better the chances of establishing trust even if you make missteps along the way."
"Trust is extremely important in this industry, as clients are looking to financial services firms to help protect their assets--their livelihood. If a firm has poor consumer ratings, they are not only doing a disservice to their clientele, but to the industry as a whole. It is important that all professionals in this field have the confidence and resources to build this trust, as it can help restore the economic faith of America," Mike Kabarec concludes.
is the president of Kabarec Financial Advisors, Chicago-based financial services company founded in 1982. Through this role, Kabarec serves as a trusted investment management professional who utilizes his many years of experienced to provide clients with positive results. Specifically, Kabarec focuses on helping his clients better understand how to manage investments and taxes in order to achieve improved wealth management.