(Members of the Rosell Wealth Management Team, (L-R) Financial Planner Emma James, Founder and President David Rosell, Ron Ware, JD, CFP and Rodney Cook II, CFP | Photo Courtesy of Rosell Wealth Management)
Rosell Wealth Management Founder Says Client Gratitude is Greatest Reward
Financial advice guru David Rosell has scaled diverse heights as a world traveler, acclaimed author and sought-after speaker, but as he celebrates 20 years in business in Bend, he says that his greatest professional reward is the sincere gratitude of appreciative clients.
The Rosell Wealth Management founder, whose niche has evolved into specializing in helping people achieve retirement goals, said, “I treasure the emails and messages that express how much we have helped ease stresses through organizing successful financial outcomes.
“Increased longevity means planning for retirement is more important than ever before. It’s not luck that enables people to retire younger, travel and enjoy themselves; it’s planning.
“We are really in the ‘peace of mind’ business, guiding clients transitioning from the asset accumulation phase to the distribution phase of retirement years.
“You might term it ‘paychecks and play checks’, where you feel reassured that you have a strategy in place to see basic living expenses covered for life, while also optimizing the rest of your portfolio so that there is something left over to play with — to receive your play checks!
“We always work hard for our clients and their loved ones and appreciate the continued confidence and trust placed in us to help plan such an important part of their life — their financial future.”
Some ten years ago, Rosell branched out onto a new creative path, into the realm of writing, after meeting motivational speaker and America’s foremost high-altitude mountaineer Ed Viesturs, who articulated that descending from a peak typically requires the most vigilance.
That encounter sparked the inspiration for Rosell’s first book — Failure is Not an Option, Creating Certainty in The Uncertainty of Retirement — crafted over two years, which combined his passion for international travel and adventure with practical financial advice, likening the journey to a careful mountain ascent and safe descent.
He said, “In the book, I parallel my love of mountain climbing with an individual’s financial journey. Ascending is equated to accumulating wealth, while descending is likened to what we do during the distribution period or retirement years. Each phase has its own unique risks.
“When climbing a mountain, it is imperative to understand that 80 percent of the deaths and accidents happen on the descent. It is also the second half of the financial journey that takes on the most amount of risk and needs the most amount of planning, as retirees will often need their nest egg to last three to four decades.”
First published in 2013, and now in its fifth reprint, Failure is Not an Option outlines clear ideas for investment strategies and planning for retirement years, including the eight fundamental risks every retiree faces.
Rosell wanted the book to be both educational and entertaining, so each chapter unexpectedly links true-life travel adventure stories — from being one of those privileged to partake in tearing down the Berlin Wall, to spending three weeks climbing the infamous peaks of the Nepalese Himalayas — with insightful financial lessons.
Rosell, who has visited 75 different countries, said, “One of my main passions in life is to travel, another is helping people plan financially. My life has been shaped by years of international travel and adventure, and my writing combines these two passions.”
Widespread acclaim for his debut publication included a testimonial from finance industry icon Charles Schwab Jr., who commented, “If you’re at or near retirement, Failure is Not an Option provides a compass for making the most of the second half of your financial journey. After reading David Rosell’s book, you’ll want to explore all that life has to offer”.
The success of Rosell’s initial foray as an author led him to pen a successful follow-up, aimed at a younger generation, entitled, Keep Climbing — A Millenial’s guide to Financial Planning published in 2018.
In a similar spirit to the first book, but this time looking to jump-start millennials’ monetary lives, it lays out 11 chapters each integrating financial lessons with experiences gleaned during varied globetrotting exploits — including from his younger years when six months of working his seasonal business were followed by an equal period of far-flung travel, often in developing countries.
Rosell, who is well-known to CBN readers over the last two decades for his regular column featuring market insights and positive mantras on human potential, added, “People who enjoyed my first book kept saying their children or grandchildren needed something like that; to be fun and informative.
“If you gave a millennial a so-called ‘classic’ financial book they may not be engaged or have their imagination fired, so from the first chapter I wanted the reader to be hooked without knowing they may be getting a financial lesson — and then delve straight into some applicable advice. I even made the illustrations fun!”
Keep Climbing starts off with likening the trepidation felt when attempting an arduous Himalayan mountain ascent to the overwhelming feeling younger people or graduates may have when contemplating the financial journey that lies ahead.
“But as I say in the book,” observed Rosell, “like any goal worth achieving, it’s all about having the end destination in mind and starting with incremental steps.”
In one chapter, a harrowing tale of how Rosell risked his life on treacherous cliff-side roads in Bolivia to save $60 leads into a description of the six major risks of retirement, while in another — a story of being stuck in deep mud on an African safari, and the ingenuity needed to extricate from the situation — segues into an analysis of the right tools needed to achieve investment goals.
He added, “Every generation has trials and adversities to conquer. However, millennials today face a uniquely challenging environment.
“As a kind of a one-of-a-kind guidebook, Keep Climbing reveals the foundation that’s key to your long-term financial success while discovering the joy and experiences the world and all that life has to offer.
“I would call this a ‘Pixar’ type book — just like those movies it may be written for a younger audience, and yet the parents will get just as much out of it. It is applicable to everyone.
“One of the major takeaways is to keep climbing when the going gets tough!”
Rosell said following the success of his first book, he received multiple requests for speaking engagements and now is regularly in demand, including for addressing CEO groups around the country.
He is a thought leader and speaker for Vistage, the world’s largest executive coaching organization for small and midsize businesses, and over the years has been heavily involved in the Bend community, including serving as past chairman of Bend Chamber of Commerce, City Club of Central Oregon and the local chapter of Toastmasters.
His books are now also available in online audio formats and two years ago he launched a podcast (Recession-Proof Your Retirement) which includes interviews with influential mentors.
Rosell Wealth Management ranks in the top one percent of financial planning offices for production and is the first firm licensed in the state of Oregon to offer life settlements (the sale of an existing insurance policy to a third party for a one-time cash payment) on the open market.
It became an investment firm in 2008, and Rosell said as a truly independent brokerage with access to A+ securities from companies all over the world, its only fiduciary responsibility is to clients, not Wall Street.
Rosell said that his firm’s core competency involves partnering with individuals to create a financial blueprint that maps out how they can realize their financial goals during their retirement years. Given that “the only constant is change” such a plan is continually evaluated, updated and revised as necessary to respond to fluctuating conditions.
He added, “As a boutique firm, we are not looking to be the largest but to offer a concentrated focus on quality planning, execution and making adjustments as needed along the way.”
A fully rounded team has evolved to include Certified Financial Planners (CFPs) Rodney Cook, MBA, Ron Ware (who is also a tax specialist) and Emma James, who attained her qualifications following a stint as a trusted client manager.
Rosell commented, “At first we tried to be all things to all people, but over the last 20 years have developed a well-defined niche to concentrate on helping affluent individuals transition smoothly into retirement. Our approach can be summarized as: Relationships, Resources & Results.
“Relationships are the foundation of everything we do. Here in Central Oregon this means developing and nurturing relationships built on trust and transparency, with care and concern for our clients’ best interest.
“We understand that every individual’s financial priorities are unique and personal — such as planning for retirement, distributing your wealth as an income stream, saving for a grandchild’s education and even transferring your wealth in the most tax efficient manner.
“We also have direct and immediate access to the powerful resources of the nation’s leading independent broker dealers and the strength in depth to help you live the life you’ve always imagined.”
He said his books were a leading source of client referrals and offered readers the additional value of getting a sense of him as a person and comfort with his level of expertise. He is currently working on another writing project, tentatively titled In the Know aimed at CPAs and attorneys.
As a way of “giving back to the community” he is also devoting ten percent of profits to a Donor Advised Fund (DAF) where clients can nominate local nonprofits to receive assistance.
Their giving fund been named in honor of long-time local community leader and mentor Jim Lee.