Posts

Hacked

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Technlogy is a double edged sword.  Technology has made our lives easier but as we bought more smart phones we also became more vulnerable to being hacked.  The Russians and other hackers have attacked our elections and recently have attacked our businesses.  These hacks are news worthy but until we are personally hacked it is someone else’s problem.  I have been hacked but the credit card monitoring software caught the hacker before they could buy a car using my identity.  While it scared me it confirmed Jamie Dimond’s statement that hacking is our country's greatest risk.  Banks will contunue to invest in solutions to combat hackers and we will need to trust but monitor our accounts.  Our monthly  review of our favorite podcats will continue.  Hackers be damned!

First Person
We are moved by the real world podcasts that summarize the experiences of real people from the first peson perspective.  Real trumps fiction and actual stories move us.  Our favorite is Room 20.  First pers…

Mars

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We recently celebrated the Fiftieth anniversary of our “Giant Leap” trip to the moon.  Watching the CBS coverage of the event was informative but the commentators, while they were impressed by the accomplishment, they were also asking what is next?  Mars was the logical answer.  Fifty years later we have not been back to The Moon and Mars is only referenced in movies and John Gray books. Our country also pays lip service to other important items like gender equality.   This week we will examine why these struggles continue and hopefully break the glass ceiling once and for all.  The solution seems obvious but we must be missing something.  The items we have identified will be discussed and hopefully they can solve this issue and we can move on!  It should be easier than going to Mars.
Teachers
I recently spent time with a family friend who has recently retired from teaching.  I asked her how we could improve our education system and she did not hesitate to answer.  She believes we need …

Person in the Mirror

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Michael Jackson's song Man in the Mirror still plays in my head eventhough it was released in 2007.  This week we will examine what we can learn from The King of Pop as we create our social media profile.  We won't be writing about how to write a hit song, but we will examine some tools that we have at our disposal.  There are a few warnings, but we also list some best practices.  We will start with the warnings and end with best practices.

Echo Chamber
WARNING!  Social Media can become an echo chamber that sends our ideas back to us creating a false sense of agreement.  Followers and Likes feel good but they can create an echo chamber of feedback and a false sence of importance.  Statistics show that most people who like your posts don't even read them!  Software that tracks time spent on your post is money well spent.  We use Hub Spot.  Don't use these facts as a reason to NOT use social media.  Use it and complement it with tools to evaluate its impact.  We ALL beli…

The New Podcasts are Coming

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When compiling my monthly list of podcasts I was surprised to read that there are 540,000 podcasts!  At last count there are only 114,131 mutual funds.  The large number of podcasts has caused us to adjust our ranking to look at Established Authors and First Person Accounts.  We and our clients have adopted podcasts for our commutes and our walks. Advisors  need to be aware of what they are listening to and not rely on Apple.

Authors
It's not surpriing that jornalists and authors have found their way to the podcast neighborhood.  Both professionals are expert at research and writing.  Two skills that many bloggers and podcasters lack.  Our favorite, this month is Bethany McLean best selling author and Forbes columnist.  Her podcast Making a Killing is worth a listen.
First Person
Nobody can tell an emotional story better than an interview with the person who experienced the event.  Podcasts are perfect for this reality.  Our favorite is Man in the Window.  Warning this podast will …

New Leader

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Most of the topics covered on this blog reference breakaway advisors.  That story is getting tired so this week we will examine breakaway leaders.  The two that stand out because of their success are the leaders at Dynasty and Rockefeller. We have written about the old guard leaders before.  This week we will examine that there is more than the person in charge it is what they provide clients and advisors.  We have more questions that we all need to consider before changing jobs.  
Legacy Business
Many leaders in the independent wealth advisory business made their mark on Wall Street in a dated business model.  I resemble that remark and welcome the questions on how I can transition my Wall Street “success” to an independent and un-conflicted business.  Advisors and clients should ask the question of how you will change.  We need to be careful to not take the political approach of changing everything the past administration accomplished.  We can’t be that clueless but every replacement …

Inorganic

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Our industry has always looked down on Wall Street’s recruiting checks.  Last week there were numerous announcements that independent firms were offering advisors money to purchase their practice.  The term for these transactions is inorganic growth.  This week we will look at why these transactions are the new rage and examine if they are better than the old Wall Street checks.


Wempy
Popeye and financial advisors fall for the “I’ll gladly pay pay you tomorrow for a Hamburger today” pitch.  Unfortunately Popeye and and most financial advisors provide their hamburger but seldomly get paid what the firms and Wimpy promise.  Why?  The advisors need the cash and Popeye is gullible.  On Wall Street the deals adjusted when the advisors changed firms looking for a new deal every five to eight years.  The recent Luminous departure shows that the advisory contracts need to be adjusted.  The new contracts are written by experienced firms and lawyers to prevent serial departures.  Wall Street has …

Information

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The president’s recent interview confirmed how important information can be for a successful political campaign, running a country and in our case running an independent wealth advisory firm.  Our monthly podcast recommendations help.  The important item that I add is a consideration of what is the podcast host's agenda? We won’t need a Mueller report to decide.  Here are our new favorites and their agendas.

Grant’s Current Yield
Jim Grant has remained an informative voice on the fixed income markets for years.  His thoughts are unique and helpful.  His agenda is for us to subscribe to his newsletter.  

The Meb Faber Show

Meb is a thought leader and a top portfolio manager.  We always learn something new when listening to his podcast.  His clear agenda is to attract more investors to his funds.

CBS Sunday Morning
If you are like me this program airs too early on Sunday TV.  If you miss it because you stayed out late Saturday night you can catch the summary on this podcast.  


My podcast l…