When Tim Massie noticed an “unmet need” of financial advice from the inherent conflicts on interest of sales commissions, he decided to do something about it.
After having worked in financial services since 2004, Massie opened Timepiece Financial Planning in October 2011.
“The process of financial planning usually makes people reflect on their life and what is most important to them,” Massie said, in regards to how he named the company. “A timepiece reflects how we choose to spend the time we have.”
Massie said he offers two things through his financial planning company. First, he offers hourly, as-needed financial planning advice. He said people come from all different walks of life seeking advice for their own unique situation and circumstances such as a younger couple wanting advice on setting up college savings accounts for children or people nearing retirement age who want advice regarding the best option for taking social security and more.
“This advice is paid for directly to me and there is no wondering if I’m recommending something that pays me for doing so,” Massie said. “Because, I legally cannot be paid from anyone but them.”
Massie also offers ongoing investment management for people who are uncomfortable doing so on their own. He said many people also choose to utilize investment management services even if they have done so by themselves in the past just because they feel their time is better spent on other things. Massie said he charges a “very competitive” rate for this ongoing service.
Massie said that 90 percent of his clients are within retirement age, but he frequently hears them say that their situation would’ve been much better if they would’ve met with a planner sooner. After helping clients with their financial planning, Massie said most people describe feelings of relief and control. He said people with plans “make it” financially and people without a plan or with a “stock market outlook” never make it in his opinion.
“My clients know that their most important financial goals have the highest probability of being met,” Massie said. “For retirees, that usually means that they can retire at their own time and on their own terms. They feel very comfortable that they will never outlive their income and will maintain their dignity and independence for the rest of their lives. It’s fantastic to be a part of it.”
As a fee-only adviser, Massie said he is a fiduciary to his clients and unlike advisers who work on commission, he has a legal obligation to put the interests of his clients ahead of his own. He said he also normally recommends portfolios of index mutual funds for his clients rather than mutual funds that are actively managed.
“Most actively-managed mutual funds under perform their benchmark index over even a short time,” Massie said. “The financial services industry as a whole earns a lot of money promoting actively managed mutual funds that ‘beat the market’ and investors would be well advised to know the whole story about active versus index mutual funds.”
Massie’s “primary” office is located at 15 E. Main St., Suite 101, Battle Ground, in the offices of Wayne Rivers, CPA. His other two offices, located in Longview and Spokane, are simply for meetings.
Massie and his wife, Anna, live in Yacolt. They have three children, Emily, 12, Nick, 11 and Jessica, 8.
