A note to the Investment Advisory World: Don't waste a crisis!

I have seen and participated in boom and bust cycles for 40 years as an adult professional in the Financial Services Industry. I have seen the evolution of the profession from being product driven to goal and solution focused(fiduciary). What has not changed is the driving motivations of the clients we serve. Fear and Greed are ever present and occupy our constituents minds and more than often their actions. The advisor of today has more tools to ground the clients in sound decisions which are built with their custom long term goals as the foundation which drives the exposure to the "markets". A planning based relationship delivers a reminder to clients the origin of the current allocation. This truly allows clients to be more focused on the goal as opposed to the current headline. Many clients will want to build the "bunker portfolio" which will inevitably be a poor decision. I have never seen it work. I lived through and invested through through every single market and economic dislocation during the last 4 decades. I have only seen clients suffer real pain and financial suffering when they have concentrated wealth in one security or they have borrowed heavily (margin) and are forced to liquidate.

A relationship based on planning toward goals built on diversification and tax awareness is a powerful, valuable and noble pursuit. When I began, the industry had professionals for sure, now it is a profession! Don't waste a crisis. This is where you create value and personal brand. This is where you have exponential growth by delivering excellence in advice. Don't stare at the screen, be in front of your clients reaffirming their future.

I got your back!