Aligning Life & Wealth: The Philosophy Behind Michael Conway’s Success

Conway Wealth is dedicated to helping clients ensure their financial plans align with the aspects of life that matter most to them—a philosophy we call Aligning Life & Wealth®. But what, exactly, does that mean? More importantly, how does our team ensure that our clients benefit from this unique approach? Read on as our CEO and president, Michael Conway, explains the true essence of “Aligning Life & Wealth” and shares insights into his background and the origins of Conway Wealth.

Q: What was your motivation behind becoming a financial advisor?

My father was a dentist who was devoted to his work and patients, as well as providing for his family. In order to keep operating costs minimal, however, he opted not to expand his practice and grow his team. He had a fear of the unknown that held him back from getting the operational help he really needed while holding on to a commitment to us (his family) to shelter us from the realities of his financial insecurities. Yet, there were times I saw this reality creep into our lives and disrupt that childhood sense of comfort my siblings and I felt.

I remember watching him wait for checks from patients to arrive in the mail so he could cover our family’s bills. I even remember coming home a few days early from a camping trip because we didn’t have the money to cover the rest of the trip.

I never actually planned to work in financial planning as a direct result of these childhood memories, but I was naturally drawn to the idea of helping others alleviate their own fears of financial insecurity.

Q: What draws you to the financial services space?

When I learned what financial advisors do, I experienced a “Eureka!” moment. I quickly determined that this was the right course of action for channeling my childhood experience with money insecurities into something positive for other people. I learned that as an advisor, I could give others more peace of mind and help them make wise decisions around money. Ultimately, I wanted to help families feel more financially secure with what they have.

Q: How did Conway Wealth get its start?

To understand what I wanted my own firm to look like, I first had to experience what I didn’t want to do. My first step out of college and into the financial services space was a one-year stint at an insurance agency which, by nature, was very product-focused. I know there’s a time and place for incorporating insurance into clients’ financial plans, but I wasn’t interested in being a salesperson. Rather, I wanted to help people from a more holistic perspective achieve their long-term objectives.

I transitioned into financial planning around 1984 and began operating as Conway Wealth over 15 years ago. Way back then, my small team and I were doing 700+ cold calls a week and working around the clock to build our firm up client-by-client. As a financial planner, I’m honored to have the opportunity to help people identify their goals, meet their long-term objectives, and feel more financially secure—for my clients and me, it feels like a win-win.

Q: What is your investment philosophy, and what makes it unique?

The public generally perceives that we (advisors) are supposed to be beating the markets—but that’s just not an approach that supports a fulfilling life. For example, Warren Buffett (perhaps the world’s most famous investor) doesn’t focus on flashy investments or hot stocks. Rather, he sticks to the “boring” basics and encourages his children and others to take a similar approach.

Our objective is to help our clients meet their long-term financial goals, as well as help them invest in a way that aligns with their values. And values, by the way, can encapsulate anything and everything important to them—their family, religion, environmental issues, you name it.

Q: How has your philosophy shaped the way you run your firm and work with clients?

After working with hundreds of clients over the years, I learned something important—not everyone cares about the same thing. Some clients may be curious to know the nitty-gritty details of their portfolio performance, while others really just want the “what does that mean for me?” bottom line.

To deliver a more personalized experience for each client, I pioneered behavioral analysis solutions. My aim is to delve deeply into their psyche as investors, discerning their priorities, aspirations, and objectives. Armed with that insight, I am then able to craft conversations that resonate on a personal level, prioritizing their foremost worries and interests.

Q: Can you elaborate on the meaning behind, “Planning should be more than about more than investment returns?”

At Conway Wealth, we’re passionate about guiding families through all the financial decisions of life and protecting them from the fear and anxiety of uncertainty. The love a family has for each other is often the guiding principle for our clients, which inspires us to work hard to help them harmonize the intersection of life and wealth.

Interested in Learning More About Conway Wealth?

Thank you for exploring the philosophy and journey behind Conway Wealth. If you’d like to learn more about our mission, philosophy, or services, don’t hesitate to reach out to our team at info@conwaywealthgroup.com or by calling us at 973.285.3640.

Investment advisory and financial planning services offered through Summit Financial, LLC, an SEC Registered Investment Adviser, doing business as Conway Wealth Group (4 Campus Drive, Parsippany NJ 07054. Tel. 973-285-3600).

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