Growth requires trust. Everything, from relationships to your money, needs a safe place to thrive. At Seed Money Consulting, Shahab Maslehati and his team provide the education, expertise and environment to help clients build successful businesses and financial portfolios. The firm’s name reflects the idea that, much like seeds, finances and entrepreneurial ventures may start small but have unlimited growth potential with the right care.
The early years determine whether a vulnerable seed gets crushed under pressure or grows into a flourishing tree that provides shelter and sustenance. Similarly, if someone stewards their finances well from the start, they can build a lasting legacy. As Warren Buffet said, “Someone is sitting in the shade today because someone planted a tree a long time ago.” We sat down with Shahab to get his perspective on trust and its implications on how we manage our money.
What does trust mean to you, and why is having a trusted financial advisor important?
An old bank examiner once told me, “Trust, but verify.” Trust should be central but never blindly given. You have to understand a financial advisor’s model and background to ensure what they’re saying makes sense. If it doesn’t, ask more questions.
Also, identify potential conflicts of interest. At Seed Money Consulting, we don’t sell products, and we don’t have trading fees. Instead, we operate with flat fees for everything we do. This way, there’s no incentive for us to stir the pot, and everything is completely transparent.
What key qualities should someone look for when choosing a financial advisor, tax advisor and/or business consultant?
One, you need to have a personality match. You should feel comfortable talking to your advisor, whether it’s discussing how much you're paying them or understanding the level of access you have to them. All of your basic questions should be answered upfront. You should be able to ask, "What's our plan of attack here?" and get a well-defined answer.
They should also be adaptable. Their process should include stress testing–not just model-driven, but also practical, common-sense scenarios. For example, if you were to move to Europe, what would that look like for your finances? The combination of software tools and the advisor’s approach should allow you to calculate potential outcomes.
Finally, it’s important to find a place where you can grow. At Seed Money Consulting, we offer business consulting, tax planning and financial planning. We streamlined a traditionally independent process where you have to talk to three different people to get one thing done. In reality, all those people should be communicating with each other. There's a significant benefit to having everything under one roof, all in-house.
We have clients who have been with us for almost ten years. We've helped them grow their businesses, protect them through challenges like the pandemic and navigate all the life changes that come along the way—whether it's managing family matters, taxes, or other financial planning needs.
What drives you to do what you do?
It's just fun to help people! I love seeing our clients smile from ear to ear and be empowered to take their lives into their own hands, whether it's their career or otherwise. It's exciting to help people solve a problem and pursue whatever it is that makes them smile.
One client that comes to mind operates a snow removal business. The owner was working for someone else before deciding to go out on his own. He took the plunge, and now the business has grown so much that we're talking about seven-figure revenue!
What role does trust play in the relationship between you and a client?
When you invest in a relationship, it grows. You have to have a system that allows you to be as close to somebody as possible. You can't be them, obviously, but you could be as close as you can so that you act in their best interests at all times. That means getting rid of those conflicts of interest.
I love seeing our clients smile from ear-to-ear and be empowered to take their lives into their own hands. It's exciting to help people solve a problem and pursue whatever makes them smile.