The Wealth Consigliere

The crisis has given me a lot of time to think and learn. I have embarked on several items that my Silicon Valley brethren taught me at TEDx San Jose .  The item I have spent the most time learning was The Hero’s Journey. Sounds daunting, but it has inspired me and caused me to begin my journey. This week I’ll share what I have learned and how it can help you grow as an advisor and personally. I write to remind myself and to encourage you. We all have time.  Write Book   I have always wanted to write a book. My biggest concern is that a  book feels like yesterday’s news unless it is complemented by current social media tools. My book is being written with the support of writers from around the world. I’m meeting them through Seth Godin’s Writing in Community training. We are not hoping for a best seller rather we are writing for our minimum viable audience . My book is for the small group of struggling Independent Wealth Advisors who have escaped Wall Street. There ...

The pandemic has forced many independent wealth management firms to evaluate their business. Our blog will summarize the pros and cons of many of the independent RIA firms I have talked to during The Crisis. While some solutions like a PPP loan seemed obvious there is no Silver Bullet. We will keep looking for the prize.  Cost  Our inboxes are filled with promotional free offers for a myriad of products. Outsourcing firms “appear” free but unlike the promotional offers in our inbox their services don’t have a renewal date. We need to be careful not to make our decisions based exclusively on cost. The siren song of free needs to be ignored when considering outsourcing. Outsourcing can help us lower our costs, but the cost tail should not wag the RIA dog when we chose an outsourced firm.  Expertise Dr. Fauci knows more about COVID than most. The experts we hire know more about their services that we do. How can we be sure?  Our experience is to ask for references and ...

As Infections have spiked in The Sunbelt and some schools are demanding students and teachers return. It feels like we might need to stay at home. Therefore, our monthly update will continue to use the same shelter in-place format.  Education   Business Wars Cold Call Kitces and Carl Entertainment   Dirty John I’ll Be Gone in the Dark Guru I hope Dr. Fauci and our blog are incorrect and we will be able to ride the wave.