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What is missing most with financial advice?

There’s an old Wall Street adage:

You are only as good as your last trade 📈 💲.

Put another way: “What have you done for me lately?”

There are 3 problems with this behavior when it comes to investing and your career:

- It makes it difficult to balance short term with a long term strategy

- It incentivizes you to take too little risk (you can be right on a trade but it’s a small bet so it doesn’t make much of a difference) or

- It incentives you to make a big bet (if you blow up you can always go to another firm or company)

When it comes to #investing, overconfidence can put you out of business.

- I know several guys who blew up and they got fired and

- I know several guys who go from one firm to another every 1 to 2 years because they can’t make money.

When I transitioned to becoming an #advisor and not just a short term investor, I learned that there was an intersection when it comes to investing and advising:

As an advisor,

- we can focus 🔎 on our relationships with clients.

Long-term relationships are more important than performance.

(I mean investment performance 📈, of course).

- The stock market isn’t always going to be on fire 🔥 and we can’t control the market.

- We can manage risk, stay diversified.

This is where the real power and magic happens.

What is missing most with #financialadvise?

A recent email from a friend, "it's comforting to know there is a path forward for [her] that doesn't include being "poor" and [she has] some control over how things turn out financially."

If you know anyone who is in transition (divorce, selling a business, death of a loved one), please make an introduction. Email me at or book a call!

Happy Thanksgiving! Appreciate our health, wealth and friends!

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