The Wealth Consigliere

  Our monthly podcast summary will not write about the President. I’m an auditory learner anyway.  Our favorite podcasts are organized in two categories. Short and no election narratives. Education   The Memo by Howard Marks  Reimagine with Eric True Crime ESPN Investigates Brainwashed   Please use your new-found knowledge to vote! Thanks

It is important we convey our unique values.  The old approach of advertising and commercials doesn’t work as well as the new technology solutions.  This week we will examine the old and new approaches.  Each continues to work in their target demographic.  Don’t throw out the baby.  Old Media It is easy to have a knee-jerk reaction during traumatic times. Our belief is that we can improve, but all of our old beliefs are NOT wrong. We just need to examine old beliefs with an open mind. Our thought is that they have survived this long for a good reason.  Book I am currently writing a book. Why? is a question I ask myself daily. The reason I write is to memorialize my observations. Observations are difficult to argue but I wish someone had done the same for me. My mentors did and their thoughts still resonate. I’m hoping my book will do the same for young professionals.  Gutenberg  invented the printing press in the 1400s. Seems like books are surviv...

The COVID pandemic has encouraged us to find new approaches.  Many celebrities have decided to use their skills on Social Media platforms.  The best person we need to emulate is The Rock .  We all know professional wrestling is fake, but we still watch.  This week we will summarize what many celebrities and pro wrestlers are doing.  Our belief is that their approach can work in the wealth advisory industry.  Wrestling is not as stupid as you think.   200,000 followers   Social media metrics are seductive. The Seth Godin idea of MVA works for our industry because customized solutions and good customer service takes time. Followers work for a mass market solution but fail for wealth advisors and our children. Congratulations to The Rock for surpassing 200,000 followers. The metric works for movie stars and pro wrestling.  Start Now Technology makes it easier for us to convey our message but it also makes it easier to see what others are doing....

  Many Independent Wealth Management websites have a link for people to request an appointment to discuss their personal financial information. We all can do better.  This week I’ll explain how we can use AI to help.  I’m using an AI tool called gamification to help us in three important areas. We often outsource these three needs to expensive professionals. I will propose that a computer can help, complemented with human professionals.  Computers can identify our tendencies and mistakes, but humans deliver empathy.   Recruiting   Recruiting is on the top of most firms wish list. The recruiting game has standard questions that all recruiters have asked for years. Our game will include those questions, but also ask our colleagues what questions resonated for them. The other aspect of recruiting that can be improved is references. All of our current clients should be randomly chosen by the computer to eliminate using our Mom as a reference. The new recruitin...

We all need to listen more and talk less. Our blog this week will cover the podcasts we listen to without guidance from The Presidential Debate Commission .   We also remember the Gloria Evestefan song .  True Crime Whistleblower   Broken: Seeking Justice Piketon Masecre Education   Amended   Masters of Scale Take 15 I promise I’ll be quiet and follow the rules.