Money is personal. Your relationship with your advisor is supposed to be personal. And if ultimately that personal relationship isn’t built on truth & trust — well, then what kind of relationship is that? But sometimes, as you may see in some of these posts, the truth can hit home & hard.
You may be one of these clients or advisors. It’s supposed to be funny not because I’m really making fun of you. I’m making fun of the perceptions we’ve all been taught by the incumbent Wall Street firms. So, without further ado…
“Did you see [insert irrelevant story] on CNBC this morning?”
What I’m thinking
“I actually did see that, but do I want to admit it?? Does my client want to know that I was watching TV during the day? Is that a good thing or a bad thing? I don’t get paid to watch TV, do I? Wait….do I?? Is this a trick question?”
What I want to say:
“You know something, I actually caught that same story on the British Bloomberg feed at 3am. I try to get caught up on all the news before the market opens so I can devote 100% of my time during the day to my clients and their respective portfolios. Why- what did you think about it?”
What I actually say:
“I try not to watch too much CNBC, but I did read about that story a few hours ago. I find that I can get overly caught up with the media’s portrayal of financial events when I watch a lot of TV and it can distort my view as it pertains to my clients’ objectives. Remember, the fact that our plan for you is long-term is not an excuse but a reality….”
Editor’s note: the reason our featured image on the homepage is Carl Spangler from Caddyshack is because when you google image search “CNBC awesome”, he comes up…. no kidding. So random; it was just too awesome to pass up. Any resemblance to real persons, living or dead is purely coincidental.