Pier Point Wealth Management and Insurance Services

Above L to R: Liz Hernandez, Paul Baboolal, KJ Burrell

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Highlights

• Financial Planning
• Retirement Solutions
• Investments
• Insurance

Pier Point Wealth Management and Insurance Services works South Bay families to help steer them toward financial success. Wealth management advisor Paul Baboolal, CLU^®, ChFC^®, brings 33 years of experience to his clients, offering a wide range of financial options including financial planning, insurance services, and retirement and estate planning.

What are the best ways to establish trust with new clients?

You cannot establish trust without doing two things: listening and keeping your promises. Our entire business model is built around listening. We can’t build a comprehensive plan for someone without first learning what their goals and aspirations are. This builds trust because we aren’t just “selling stuff.” We’re giving recommendations when, and only when, those recommendations help our clients get closer to their goals. We are also highly disciplined about keeping our promises. If we say we’ll get you an email within 24 hours, that email is going out no matter what. Kept promises sustain long-term relationships. 

What inspired you to pursue this profession?

I started as an intern, so this has been a lifelong career for me. The thing that got me started is the thing that keeps me going, and that’s the fact that this is a people-centric profession. To do my job well, I have to connect with a lot of people. Fortunately, that’s something that I love to do. Decades of serving my clients means I’ve had the privilege of witnessing countless success stories. It’s a great feeling when you get to see a client successfully launch their retirement plan or fully fund their child’s education. I’m always on a mission to do what’s right for our people. Without a doubt, this has been an incredibly rewarding career. 

In what ways does your work make our community a better place to live?

Increasing the financial literacy of our communities has a beautiful ripple effect. Financially literate communities are safer, more stable and more educated. One financially literate household can create stability for a family for generations to come. One of the great things about doing this type of work is that when it is done well, it compounds. 

How do you envision the role of trusted advisors evolving in the future?

Market research shows an increasing demand for trusted advisors in the financial services space. Even with the rise of AI, consumers are still looking for that personal touch when it comes to their hard-earned money. I think that the “advisor of the future” is one who can harness the power of new tech while maintaining those close personal relationships with clients. 

How do you stay grounded and avoid burnout in your career?

Over the years, I’ve built a supportive network of colleagues and team members who are always there to provide valuable perspective and encouragement when I need it. And if I ever need an energy boost, I can also turn my focus toward meaningful client relationships, which remind me of the positive impact this work can have. But I have found that the best strategy to avoid burnout is to prioritize time with my family. I am grateful that this career affords me the luxury to do that.

What is your advice for your younger clients?

Learn how to live below your means. And use that extra income to make your net worth grow. It’s all about starting good habits as soon as possible. With younger clients, we are always working on savings strategies.

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Disclaimer: Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) (life and disability Insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries, including Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance), Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), a registered investment adviser, broker-dealer, and member of FINRA and SIPC, and Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and trust services), a federal savings bank. NM and its subsidiaries are in Milwaukee, WI. Paul Baboolal uses Pier Point Wealth Management and Insurance Services as a marketing name for doing business as a representative of Northwestern Mutual. Pier Point Wealth Management and Insurance Services is not a registered investment adviser, broker-dealer, insurance agency or federal savings bank. Paul Baboolal is an Insurance Agent of NM. Paul Baboolal is an Agent of NLTC. Investment brokerage services provided by Paul Baboolal as a Registered Representative of NMIS. Investment advisory services provided by Paul Baboolal as an Advisor of NMWMC.

Photographed by Shane O’Donnell