Holistic Financing 1

Peggy L. Farnworth CPA, CFP, CSA

Financial advising is not as cut and dry as you might think. Peggy L. Farnworth takes a holistic approach as a trusted financial advisor, helping clients figure out not only the specifics of their financial plans, but also discussing their big picture goals. “The more people know, the more empowered they are and the more successful they can be,” Farnworth says.

Farnworth’s focus is on financial education and helping people define their financial independence. “That’s one of the reasons I blog regularly,” she says (visit TrustedFinancialAdvisorBoise.com to view blog posts). Farnworth blogs about a variety of topics including downsizing homes, clearing out estates, and even the medical system. “I have gleaned a lot from my own experiences and have shared that, as well as what I’ve found in my research,” she says. “I had a bad experience in the medical system and it made me a more savvy and better consumer of medical services.”

The majority of Farnworth’s clients are age 50 and up, so she often deals with retirement planning and the transition period that comes with that. “My focus is concerned with how to make your retirement rich and enjoyable,” Farnworth says, “because it’s about more than money. It’s how you’re doing socially, mentally, and emotionally.” Farnworth says many retirement-age people think they’re going to love “doing nothing,” when in reality it can be a difficult transition. “I give them information up front and help them be prepared to make that shift,” she says.

Farnworth, who has been in business for 25 years, is one of only a half dozen financial advisors in the Boise area with CPA (certified public accountant) and CFP (certified financial planner) designations, not to mention her CSA (certified senior advisor) designation. “I work a lot with clients who have aging parents,” she says, “and let them know about services that are available to them that can help with the aging process.”

Farnworth became interested in financial advising in a high school bookkeeping class her mother made her take after her older sister made a disaster of her checkbook. “I found that I really like helping people with their goal setting,” Farnworth says. “It’s more than just taxes; people need a big picture plan.” She says she loves hearing people’s stories of how they got to where they are and where they want to go next. “Getting to be a part of that is a pretty incredible experience,” she says.

Enjoying a new spacious office, Farnworth is looking forward to hosting workshops on topics such as identify theft, cyber security, estate planning, and record retention. “I’m really excited to be able to do more,” she says. “I have a lot of clients who don’t just want to know what time it is–they want to know how the clock works. I try to increase their knowledge base and empower them to be more wise, savvy, and knowledgeable about their
financial picture.”