The Wealth Consigliere

  Millennials have a different word for everything. This month’s summary of podcasts will include recommendations from our millennial team.  Millennial Recommendations Behind The Bastards   https://www.iheart.com/podcast/105-behind-the-bastards-29236323/ Prodigy  https://www.prodigypodcast.com/ On Being   https://onbeing.org/series/podcast/ The next generation is worth understanding. They have a different word for everything!

  The song from Hamilton inspired this week’s blog.   https://www.youtube.com/watch?v=WySzEXKUSZw Many of us are chomping at the bit to get back to the office.  This week I will examine why the room where it happens can disappoint.  We need to manage our expectations on how great the office was… This week I’ll examine the pros and cons of The Office and discuss some improvements post pandemic.   Improv The advisor’s spontaneity is very memorable and important.  The best training I’ve found is from the theater. The theater educates their audience and actors using improv. The most successful improv training can be adapted to wealth advisory.  My favorite approach is to watch my favorite actors and learn from the top theater company - Second City.  https://www.youtube.com/watch?v=9RFTpObS95U https://www.secondcity.com/ The book Yes And helped me too.   https://medium.com/improv4/saying-yes-and-a-principle-for-improv-business-life-fd050bccf7e3 Fa...

The hackers have taken over. They have the attention of our government and now several of our pipelines and large corporations. This week we will discuss what we can do to protect our wealth advisory firms. I love technology, but so do the hackers. Heck, I even wore my watch during a recent medical procedure. It’s an Apple so I can feel safe…. Data Security              Apple has drawn the line versus Facebook and Google regarding data security. We need to follow their lead. The hacks keep on coming. The change is the companies that are being hacked are larger. What we can learn is that size doesn’t matter. The only item that matters is a credible protection system. We need more than the ADT sign. We need an ADT security system. The cost is a bargain. We buy fire insurance even when the chances of our house burning down a slim. The insurance on a computer hack just went up. Buy the insurance.                ...

Tulsa has convinced many that we need to pay reparations to the survivors of the 1921 massacre . The mayor and the state politicians will hopefully make the correct decision. This week we will look at the reparations we need to make in the wealth advisory business. The areas we need to change have been around too long. The three main areas we should change are: Retail Investors   Retail is commonly minimized. We seem to have pushed this belief too far and small investors are fighting back. Established firms are beginning to adjust their marketing approach to listen to younger consumers. The recent stock price moves in AMC and the popularity of online investing prove the power of retail. Historically Wall Street has minimized and disregarded the retail investors. That approach is changing. The young and smaller investors are demanding change.  Binary Decisions    We need to be more collaborative with our legacy beliefs. As we evolve we need to be open to the chance t...