5/22/23 - Johnson Rhett was interviewed by FeeOnlyNetwork.com

Who do you serve and what makes you or your firm particularly qualified to serve those clients?
I primarily serve millennials, early-career individuals, and young families. Branning Wealth Management specializes in liability-driven investing, which makes us different from most in the industry. Rather than simply seeking a “total return” strategy, all our decisions are based on the client's personal financial plan.

Tell me about a unique client situation where your experience and expertise added significant value to the relationship.
During the recent rising interest rate environment, I helped a client optimize their cash holdings by transferring funds from an account with a meager interest rate. As a result of this relocation, the client is now earning approximately $5,000 more in interest per year than before. 

How do you hope the industry will evolve, and how are you contributing towards that change? 
I am hopeful that the financial planning/advisory industry will continue to trend toward “true fiduciary” status. I’d love to see people who are searching for a financial advisor paired with competent advisors that genuinely want the very best for those that they serve. To contribute to this change, I actively pursue continuing education and professional development. Additionally, I remain engaged with industry associations such as the Financial Planning Association (FPA), The National Association of Personal Financial Advisors (NAPFA), and XY Planning Network - all of which promote fiduciary standards. Transparent communication and client education are at the core of my approach. By placing clients first, I aim to not only drive the industry's evolution but also build trust in financial advisory relationships. 

A stranger at a party asked you what you do. How do you answer? 
I walk alongside millennials and those starting out in their working career to build a better financial life. 

What steps do you take so that clients are assured that your fees are transparent?  
To ensure transparency, I prioritize open and proactive communication with my clients regarding our fees. Comprehensive details about our fee structures are easily accessible on our website. Prior to establishing a client relationship, I emphasize the importance of a written agreement that clearly outlines the agreed-upon fee structure. I always encourage clients to ask questions if anything needs clarification. Furthermore, I usually offer a fee analysis that compares their existing holdings. 

What do you wish more people knew about the process of creating a financial plan? 
Creating a financial plan involves developing (and navigating) a roadmap to achieve your financial goals. Despite what some may advertise, there truly is no “one-size-fits-all”. It is ALL unique and personal to the individual and/or family. Building a comprehensive financial plan also requires vulnerability and a willingness to be candid with your advisor. 

What is the biggest misconception about your job? 
All I do is pick investments! The role of a comprehensive fiduciary advisor is to, first and foremost, help create and maintain a financial plan for the client. Investment management is a piece of the puzzle, but not the whole picture. 

What has been your "aha-moment" during your financial services career? 
People don’t necessarily care about 'how the market is doing,' 'what happened with interest rates,' or 'economic forecasts.' What they truly want to know is if they'll be okay. 

What do you think is the biggest mistake people make with their money? 
Failing to live within your means. 

How has the shift to serving clients virtually impacted your business? 
The technological advantages of the past few years have made it easier to reach and serve clients from a distance! Oftentimes, we video-record answers to questions or review materials to provide clients ahead of meetings. This allows the client the time to watch, re-watch, and draft questions. It’s great to have the ability to work with those who are not just local.

Who is/was your mentor in the industry? 
Jason Branning

Is there a particular book that has had a positive influence on your personal or professional life? 
The Psychology of Money by Morgan Housel 

If you could only give one piece of financial advice, what would it be? 
Live within your means. 

Have you had any interesting jobs prior to becoming a financial advisor? 
Prior to becoming a financial advisor, I worked in a college campus ministry position for three years. It was a very relationally-focused job, which helps me as I serve my clients. 

What is the least understood aspect of your job? 
The behavioral or “psychological” side of finance. A significant part of my job involves helping clients manage their emotions, biases, and misconceptions about money. This is an integral part of helping them achieve their financial goals. 

How do you keep track of all the things you have to do? 
Google Calendar, Apple Notes, and Redtail (CRM).

How would you describe the culture of your firm? 
Hospitable, approachable, service-focused, and flexible.  

Can you share a bit about your processes, services, and fees?
At Branning Wealth Management, we offer financial planning and investment management services. We use a safety-first approach to financial planning and asset management. We believe planning and investment management decisions should be approached as a liability-driven process, where assets (such as investments) and cash flows are aligned with projected liabilities, including expenses and goals. 

Our fees for planning and investment management are always transparent, and clients pay for the services we provide. If clients have specific concerns regarding budgeting, cash flow planning, debt management, investment planning, retirement planning, tax planning, or wealth management, we also offer one-time engagements to address these inquiries and provide expert guidance for your specific situation. 

By employing our safety-first approach and focusing on liability-driven strategies, we ensure that our clients' financial goals are at the forefront of every decision we make. Our aim is to help clients achieve long-term financial security and peace of mind.

Tell me more about your firm's history.
Branning Wealth Management (BWM) was founded in 2009. The firm was started to offer academically tested best practices in planning and investments customized and delivered to individuals.

On a personal note, what should we know about you? 
I grew up in Hattiesburg, MS, and went to college at Mississippi State University. I’ve been married to my wife, Anna, for three years. My hobbies include disc golf, fishing, guitar, and mandolin. I am an active member at First Presbyterian Church of Jackson, where I'm involved with the music ministry, the young adult ministry, and serve as an usher.