It all started one night around a campfire with my family, I went off on a little rant about some of the factors facing my industry. It occurred to me that investors really must be challenged and confused on how they should look at the investing world. I explained to those listening to me that according to a lot of media reports, the typical investment advisor today is nothing more than a 1980’s “stockbroker” that charges high commissions, sells them products, doesn’t have their best interest at heart and really could care less about the investor. The growth of new investment options, such as “robo-investing”, advocate that because they are a cheaper option that the investor will be better off. As my rant continued I explained that I felt very strong that although I am sure there are some bad apples in the industry, just like there is in any industry, there are many very talented, conscientious investment advisors out there that truly care for their clients. I went on to say how its frustrating that it appears that my industry, that my colleagues are getting “attacked” with this stream of commentary. Is it any wonder that investors are unsure of what they should do, who they should talk to and really what to expect from a “good” advisor.
The reality is that when an investor doesn’t feel that they are getting properly served, that they are not getting the correct advice or direction, that the real reason it most likely failed is that they and the advisor did not develop “ the relationship”. The time has not been spent building a deep informed professional relationship, because when that occurs all of this other noise, and commentary is really just that. Noise.
So the next morning over breakfast, my wife Nicole looks at me and tells me that I need to tell these stories. That if I truly feel that way that I need to step up and let people know that there are options available to them, that not all advisors are bad apples. She told me that I need to write a book that can explain to investors why they can find a good advisor and build a life long multi generational relationship and why I feel that it is important.
Before I even realized what that might entail, I said, committed to it, and so the process had begun.
This book, the process, the stories, all come from 26 years in the trenches. From experiences I have had, mistakes I have made and many of the wonderful people that I get to work for every day. You can imagine that over the span of my career I have met a large number of advisors from all kinds of firms that offer all kinds of different investment advice. So I know from first hand experience that there are indeed good advisors out there, you just need to find one.
As the book is about to launch, I just recently met with a couple, that were referred to me by a 13 year client of mine. This couple had been working with an advisor for over a decade but for the past few years didn’t feel that they were on the right track. But they told me that the hardest part was acting on this uncertainty, and they didn’t know where to turn. This is exactly the kind of situation that I hope, my book will help people with.
Thank you for everyone who has supported me on this project.
I hope you enjoy.