Q&A with Heather Townsend at Townsend Financial

Aug 13, 2019 12:01:21 PM

Catching up with LoanBuddy customer Heather Townsend (CFP, CPA & CSLP) from Townsend Financial.

LoanBuddy: When did you first know you were going to go into Financial Planning?

Heather: When I was 19, on a cruise with my boyfriend and his parents I was reading “ Smart Women Finish Rich” by David Bach. They thought I was odd. After reading the book I told my parents I was taking my internship money and putting it into a Roth IRA. They really couldn’t say no….  

I have always loved numbers and finances. After college I advised fortune 500 companies and wealthy real estate developers. While I was helping them get richer, I was helping my friends on the side with financial planning. They implored me to start my own company because my advice was benefiting them so much. I realized my friends didn’t have a financial planner they could go to or trust. My generation needed honest, no conflicts of interest financial advice that they could pay for and not be required to have $500k to invest.  So….

LoanBuddy: How long ago did you form Townsend Financial?

Heather: February 2018 I officially launched Townsend Financial.

LoanBuddy: Are you working with a particular occupational group of clients or niche?

Heather:  My niche is women and young professionals ages 20s-40s who are making money but just don’t know what to do with it.  

LoanBuddy: In what ways have you really excelled for your clients?

Heather:  I’ve helped them determine where money is important to them and how to channel and optimize it to reach their goals. Outcomes are their net worth has increased significantly, they are on track to retire, they are finally traveling internationally with their kids, they are paying thousands of dollars of debt off and feeling like they can financially breathe.  I guess to sum it up is getting their money to work for them to have the life they want. 

LoanBuddy: How has helping your clients understand their student loans become more than just a value added aspect to your company?

Heather: Clients don’t know there are different payment plans. How should they it is not taught in school?  Selecting an income driven repayment plan and going for student loan forgiveness (when it fits) has decreased my client’s financial anxiety greatly.  Additionally it has enabled them to meet their financial goals much faster and get them in a better financial position. 

LoanBuddy: What percentage of your clients have needed your expertise with respect to their student loans?

Heather:  Around 30%

LoanBuddy: How has advisor facing technology improved over your career?

Heather:  Wow - much! We have google drive, Right Capital where client’s can link all their accounts, Monte Carlo, Loan Buddy where you can enter different income scenarios to determine which payment plan makes sense and on and on i.e. Immensely!  We still have a ways to go but we are heading in the right direction. 

LoanBuddy: Since you are now a LoanBuddy customer how has it helped you optimize the options for your clients?

Heather:  I’m able to analyze my client’s student loans much faster by being able to upload their student loan text file. Loan buddy then does all the calculations for me that I was doing in excel which saves me a ton of time! The best part is the result is digestible so I can show my clients! They can easily comprehend why I am advising that they choose a specific repayment plan.

LoanBuddy: If you could offer one piece of financial advice to everyone in the USA what would it be?

Heather: SAVE !  Don’t live beyond your means and invest! 

Catching up with LoanBuddy customer Heather Townsend (CFP, CPA & CSLP) from Townsend Financial.