23 May Barron’s – What These Financial Advisors Learned From Military Service and How They Give Back on Memorial Day
May 23, 2025
To mark this national holiday, wealth management professionals share insights they gained during their years of service and how they are helping military families today.
By Sally Cates
Although Memorial Day is often thought of as the kickoff to summer, its real meaning is as a day to honor those who have died while serving in the U.S. military. I asked former service members in our network at Dynasty Financial Partners to share how they recognize Memorial Day and how their own years of service inform their work with clients. Below are some of their insightful responses:
Harold Williams, chairman and founding member, Precedent Wealth Partners: How has your experience as a service member influenced the way you approach financial planning? Can you share an example?
As a veteran of the U.S. Army (post Vietnam era), my military service has carried over to how we approach financial planning in working with all families. The core values taught to service members are especially applicable to a firm acting as a trusted fiduciary to clients because trust is a bedrock ingredient among comrades at arms.
About 10 to 12 years ago, I was working with a widow who was in rather disadvantaged circumstances because she simply did not have sufficient resources to support herself at the lifestyle level she liked. In the course of our work, we ascertained that her late husband had been a veteran of the armed services and upon further questioning, realized she likely qualified for veteran surviving spouse benefits.
She simply had no idea that these benefits were available to her. We were able to plug her into a consulting resource that helps surviving spouses navigate the claims process. The benefit she received amounted to about $1,200 per month which made a material difference to her life.
Jeremy Gilbert, chief of staff; Dynasty Financial Partners: How do you recognize Memorial Day at work and what advice do you have for advisors who want to serve clients from military backgrounds?
For me, Memorial Day is profoundly personal. As someone who served in combat and lost friends who gave the ultimate sacrifice, it’s not just a day of remembrance—it’s a moment to honor those I knew personally, men and women who laid down their lives in service to our country. I carry their memory with me every day, but especially on Memorial Day.
At Dynasty Financial Partners, we recognize this day with intention. We strive to remember that behind every freedom we enjoy is a name, a family, and a story of sacrifice. While I’m not a financial advisor myself, my role allows me to support a network of advisors who serve a wide range of clients, including veterans, military spouses, and Gold Star families. It’s a way for me to continue serving—just in a different uniform.
Flexibility is especially important given the complex and often underappreciated financial realities military families face: lower base pay, frequent relocations, deployments that interrupt spousal careers, and a veterans benefits system that can be difficult to navigate. Lead with empathy, and be curious. Learn the language of the military—it helps build trust. Most importantly, educate yourself on military-specific financial tools and benefits so you can offer meaningful, tailored advice.
Jeff Farrar, chief operating officer, managing director, Procyon: How did your experience as a service member influence the way you approach financial planning?
It taught me the value of hard work (“Get up early and get at it”), adaptability and flexibility. You learn to quickly process the required information and get to 90% of the required information as fast as possible. The military developed OODA loop comes to mind. Observe, Orient, Decide, and Act comes to mind. It helps folks make faster, more effective decisions in complex situations.
I learned to work with all kinds of people from varied backgrounds. And to remain calm under pressure. That helps when dealing with a rapidly evolving uncertain market environment and trying to provide calm leadership to clients.
Active duty service members, veterans, or surviving spouses typically are asset poor and pension rich. They don’t make a ton of income but can retire young. Many also have some sort of disability pay which needs to be planned for. And helping them navigate the Military benefits when they retire versus other options allows us to add value. Many service people don’t fully “retire” when they stop working on active duty so we can help them think about what is different as they enter the civilian workforce with its own jargon and systems.
Andy Leung, vice president, private wealth advisor, Procyon: What did you learn from your military experience that influences your approach to financial planning?
When it comes to proper planning, the Marine Corps uses a five-paragraph order for military operations: Situation, Mission, Execution, Administration and Logistics, and Command and Signal. This is similar to a financial plan and the objective is a successful retirement.
We work with many veterans as clients but additionally we do pro bono work for veterans who ask for help. It has been great to work with these veterans who may have fallen on hard times. We help with pensions, disability, education benefits, etc. Veterans like structure so it is great to help them create that in their financial life. It is really gratifying to help clients and families who have served and have a common bond.
Mark Perrault, president, managing partner, Intergy Private Wealth: How does your firm recognize Memorial Day? Can you share an example when you supported a military family?
Some of us participate with our families in an Angel Run 5K, which I am doing with my kids. All proceeds will be donated to Angels of America’s Fallen to help accomplish their mission of supporting children of fallen firefighters, military, and law enforcement personnel through activities such as sports, music, and other arts.
We have the ability to do financial planning for military personnel since two advisors have served and two of our team members are/have been military spouses. We understand the benefits veterans receive. In one case, we knew before the family did that as a vet there was a Veterans Affairs benefit called Aid and Attendance. We were able to help the family secure that for an aging parent who was a vet.
We have also been able to help quite a few active duty military officers decide whether to stay in or get out of the military, yet remain reservists. That has helped some families be more in control of where they live without sacrificing financial security. Sadly, an advisor on my team lost his best friend from West Point who had served 10 years. We helped the surviving spouse with two kids navigate life after the death and put together her whole financial plan. To be able to show her just how much financial security she had because of her husband’s service was amazing.
Sally Cates is a managing director and is responsible for public relations and communications for Dynasty Financial Partners and the Dynasty Network of Advisors. Previously, she led global communications at Citi Private Bank and Smith Barney.