November, 2003 - As a consultant on insurance benefits and other financial services, Scott Westbrook of Westbrook Benefits Group in Baton Rouge, LA, finds that his clients have an insatiable need for knowledge.
“With the volatile market conditions and various financial scandals, there’s a real apprehension among a lot of my clients,” Westbrook said. “They look to you have all the answers. But with all the financial products and services out there, no one can be an expert on everything.”
In his search for information resources, Westbrook discovered The Encyclopedia of Personal Finance on financial commentator Bob Brinker’s web site. “The fact that Brinker was recommending it said a lot to me. I clicked the link and read about the product, and I just said, ‘This is great.’”
Westbrook finds the wealth of information on the CD to be the perfect tool for answering client questions. He uses the Encyclopedia to explain the difference between various employee retirement savings plans available and define the nomenclature involved. "“That kind of information really helps put them at ease,” he said.
“It’s phenomenal. It makes me appear smarter than I actually am,” he said. “It helps you get up to speed on any topic very quickly. The Encyclopedia is very interactive and it goes much deeper than the other resources I’ve used. And it’s all reliable, unbiased information.”
“I don’t pretend to know all the answers, but now I know where to get them,” Westbrook said. “The Encyclopedia is a great resource.”
Along with explaining employee savings plans to his his corporate clients, the 41-year-old father of two has used the Encyclopedia to get a better handle on his own retirement planning.
“I was reassessing my own 401K plan. I felt I was being fee-ed to death, and it was just out of ignorance. The Encyclopedia helped me understand what makes up mutual fund fees and how taxes are treated,” Westbrook said. “As a result, I determined that I had been investing in the wrong risk category, and I got out of some of the funds I shouldn’t have been in.”
“With the Encyclopedia, I can reference any investment sector I need to understand. If I need to know about options, I can go right to the Options section and learn anything I need to know, from the layman’s level to more advanced stages,” he said.
Although Westbrook has recommended the Encyclopedia to other financial professionals, he’s beginning to wonder whether that is such a good idea.
“I’ve recommended it to several people. But the Encyclopedia has been such a great professional resource for me, I’m not sure if I will anymore. It’s kind of like giving away a trade secret,” he said.
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