Rahul Shah, CFP® – Founder

Get to know Rahul:

Tell us a little about yourself that isn't financial services based!

I’ve lived in San Francisco since 2000 but I’m still a die-hard Michigan/Detroit sports fan. I love all Michigan and Detroit sports’ teams including the woeful Lions. I’m trying to convince my kids not to follow in my footsteps (but it’s a losing battle!).

Why did you start Peninsula Wealth?

I have a background with financial firms and was disappointed in how wire houses and banks handled transparency. I felt that full transparency was really lacking and that clients didn’t fully understand the process or the relationship being built. I wanted to build a firm where both clients and team members felt better about the relationships that were being built and the transparency that was being offered.

What makes a good personal advisor?

“The ability to simplify things and really listen. I work with a diverse set of clients who have different backgrounds, philosophies, and outlooks. So it’s up to me, the advisor, to translate financial planning for each of my clients in the most relevant way possible.”

What advice do you have for people who are considering financial planning services?

I always recommend that people spend the time to understand your cost/benefit analysis from a dollar and time standpoint. People will spend hours to save money on vacations, cars, etc., but studies show that they don’t spend nearly the same amount of time understanding their biggest asset in their financial plan.

What do you think is the biggest misconception about financial planning and what would you say to people to correct it?

People misunderstand that financial planning isn’t a one and done process. It’s important to understand that financial planning is not a vehicle. It’s an ongoing process and map to ever changing destinations. No product or magic dust will get you there and it’s important to do your quarterly check ups to stay on track. People are always looking for a magic bullet but it’s like most things that work in the end – you put in the effort you get back.

What is your favorite part of your job?

Our Monday morning team meetings when we discuss all of the meetings from the prior and current week. I love the collaborative effort to find solutions on the issues that our clients are dealing with. It reminds me every week why we started Peninsula Wealth.

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