The Financial Advisor For Hotel People

"Hotel people" generally refers to individuals who work or once worked in the hospitality industry, specifically within hotels. They are professionals committed to ensuring guests have comfortable, enjoyable, and memorable experiences during their stay. This term includes everyone from front-line staff who interact directly with guests (like front desk agents, bell and door persons, concierges, and servers) to behind-the-scenes roles (like housekeeping, maintenance, sales, reservations, accounting, and kitchen staff) and upper management overseeing operations.

Hotel people are often known for being:

• Customer-Centric: Their main focus is on satisfying guests’ needs, whether through friendly interactions or excellent service.
• Resourceful: They solve problems on the spot, find ways to exceed expectations, and handle diverse guest requests efficiently.
• Team-Oriented: In a hotel, every role connects with others, so teamwork is essential.
• Detail-Oriented: Every detail in a guest's experience matters, from cleanliness to prompt service, which helps create positive reviews and repeat customers.
• Adaptable: They often work irregular hours, deal with high-pressure situations, and adjust to last-minute changes, especially during peak seasons.

Hotel people are dedicated and focused on providing a welcoming and seamless experience for each guest, and it is our goal to provide the same level of service and satisfaction for our hotel people clients.

Why Do We Work With Hotel People

Leverage Financial Advisory started in a hotel. Our founder, Brian Bond, CMT , was the Director of Finance at the four-diamond Hotel Commonwealth in Boston, MA. He always had a passion for corporate finance, personal finance, and educating others. When co-workers began coming to Brian for help with understanding their 401K plans, Roth IRAs, refinancing their mortgages, and investing for their futures, he realized the industry was falling short in providing enough personal finance education and guidance to help employees become financially independent. In 2019, Brian launched Leverage Financial Advisory to be the financial advisor for hotel people.

Why Do Hotel People Need a Financial Advisor

Hotel people can benefit from having a financial advisors to help them effectively manage their personal finances, given their often demanding and unpredictable work environments. Here are several example of how a personal financial advisor can support a hotel people:

1. Investment Planning and Wealth Growth: Hotel people often have demanding roles, leaving little time to sit at their desks and manage their investments. A financial advisor can create a customized investment portfolio, focusing on growth, security, and income diversification that aligns with the manager's financial goals.
2. Retirement Planning: Given the high-pressure nature of their jobs, hotel people might want to secure an early retirement or at least ensure a comfortable one. A financial advisor knows how to leverage retirement accounts, such as 401(k)s, IRAs, Roth IRAs, and Taxable Brokerage accounts to help meet their goals and timelines.
3. Tax Efficiency: Hotel managers may have complex tax situations, especially if they receive bonuses, performance-based pay, or stock options. A financial advisor can help structure finances to maximize tax deductions and credits, lowering their overall tax burden.
4. Budgeting and Cash Flow Management: With often irregular or performance-linked income, hotel managers can benefit from a structured budget to maintain cash flow stability. A financial advisor can create a plan that balances spending, savings, and investments.
5. Debt Management: Many managers carry debt, such as mortgages, student loans, or credit card balances. Financial advisors help prioritize debt repayment, often finding strategies to reduce interest rates or consolidate debt, which improves overall financial stability.
6. Protection and Insurance Planning: A financial advisor ensures that hotel managers have the appropriate insurance coverage (e.g., life, health, disability), which is crucial for maintaining financial security for them and their families in case of unexpected life events.
7. Estate and Legacy Planning: For managers looking to create a financial legacy, provide support for family members when they're gone, and avoid probate court, financial advisors assist with estate planning, including wills, trusts, and inheritance strategies.
8. Stress Reduction: Hotel management is often a high-stress role, and having a financial advisor helps reduce the pressure of managing personal finances by providing peace of mind that their financial future is secure and well-managed.

By working with a financial advisor, hotel managers can focus on their demanding roles with the confidence that their finances are strategically managed, ultimately helping them reach their personal and professional financial goals.

If you are a hotel person and would like to learn more about our personal wealth building process, please reach out to [email protected] , or text/call 617-356-1852 with any questions you may have.

Leverage Financial Advisory is an Investment Advisor registered with the State of Massachusetts. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, www.leverageadvisory.com .