The Wealth Consigliere

  The surveys are showing a high percentage of people aren’t willing to go back to the office. I don’t believe the surveys so I listen to podcasts and eat fortune cookies. My monthly review of podcasts will survive another month. The podcasts I’m enjoying are primarily fiction. I need to escape.  2 podcasts I am binging.  https://wondery.com/shows/true-love/ https://podcasts.apple.com/us/podcast/dr-death-miracle-man/id1578760339 I realize that someday people will go back to the office so I’m listening to a podcast that can help us make the final decision .  https://alliancefordecisioneducation.org/podcast Talk to you next month…

  We all need a boost. The glow from our new business opportunity will inevitably wear off. How we reclaim the excitement will define our ongoing  success. A booster helps. Scare Tactics  We attempt to frighten people. The wealth advisors use the scare tactic of telling people they can run out of money if they don’t follow our plan. Consultants call this the broken arrow test. It assumes that our next crisis will resemble our last crisis. That crisis remains in our memories. Unfortunately the past does not repeat.  Business Script   Business Plans are good for senior leaders. Unfortunately, they are boring for all others. The business meeting should avoid going over the business plan. Unfortunately, we need the plan when things go wrong. The leaders need to keep this reality in mind when writing the plan. We will forget the plan until we need it to survive. Bring your Highlighters to the meeting.  User Manual We need a relevant user manual for our new ...

We need to work on our flexibility when we start our new wealth advisory firm. We are now in control and need to decide on what we should change. The flexibility to make these changes can be obvious. The place to start is to normalize compensation. Many professionals got into the business because they could make more money. This is a fact, but we need to insure that our colleagues make more money as well.   We have goals that we try to achieve. Unfortunately the goals are established by others and are not as rewarding as we hoped. I guess that after four plus years of work our Olympic athletes are not as happy as they thought they’d be. Goals can be pyrrhic.  Where will we live after the pandemic?  The question has many facets. The top item is we can choose. The areas that will help are have a deep,Talent Pool. Cost and quality of life is important. The quality of life demands we choose what is personally important. Many of the items we believe are important prove to be r...

  Talent and coaching are essential to success. The talent is important, but a coach is needed to orchestrate and complement talent with teammates that can make the talent achieve their maximum. The coach creates the optimal mix in The Olympics and Wealth Advisory.  We often make knee jerk decisions. The fast decisions feel good, but they are often erroneous. We need to slow down and analyze our decisions before we make them. It has won a Nobel Prize and we need to follow the slow lead.  Waiting is easier said than done. Our legal and investment process takes time to reach a conclusion. The participants will feign innocence and the ability to DIY. The process and the facts will prove who is correct. The challenge is to wait until all of the information has been presented. We might be surprised by the winner. The pandemic has caused us to reevaluate our work priorities. While we might not need to spend our time on commuting to work. We realize that our most precious resour...