The Wealth Consigliere

  The popular Netflix series on chess  reminded me of my brilliant Dad who loved Chess. This week I’ll discuss how we can play our own game of Chess.  Hopefully, the three strategies will help your independent wealth advisory business win your game. They won’t need to be memorized, but it should be implemented. The strategies work in our post pandemic world. The pandemic has accelerated the need to change. This reality embraces some old beliefs, but the new strategies will help us win.  Social Media   Our clients use Social Media.  We should communicate our unique message using Social Media too. The business tools we need to become expert are LinkedIn and Twitter.  If our clients don’t know how to use either we should teach them.  The good news is both are free and are embraced by compliance.  I check my LinkedIn and Twitter feed several times each day. Firewall   Our clients and our regulators require we have a Firewall protecting ...

  Our world has changed and the impact is causing gridlock.  This week we will examine the gridlock in the independent wealth advisory business. Unfortunately,  political pollsters missed these changes too. We hope we can help avoid similar mistakes. The areas our blog will examine are essential to our industry’s evolution. We will begin with with predictions and end with the effective checks and balances established by our forefathers.  Predictions We yearn for someone to predict the future. Our older clients believe there are analysts that can help qualitatively. Millennials demand a process that is more quantitative. These two different opinions have supported Passive and Active funds. We need to accept we won’t change minds and need to move forward. The current older clients believe they are correct and the younger generation “doesn’t get it”. This is gridlock and only time will solve these differences. It wasn’t that long ago we believed that a woman would never...