Reparation


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 that our legacy beliefs could be wrong. Recently upon further analysis we realized that our responsibility for an outcome should be shared with the other person. Our choices should not be binary. Our political parties need to accept this powerful reality. None of us has the correct answer. We need help and we should ask the other side of the aisle for help. 



Training

Post pandemic life will require most of us to raise our game. Technology and established educational institutions can help. The technical term is upskilling. We need to work together to provide a needed but hard to find support. The challenge is who will pay for this needed education. The businesses need to step up because they require skilled professionals. The solution is more than higher wages that expect workers and their families to pay the education bill. 


We did not support Bernie Sanders, but we need to find an improved approach that will make education more affordable  


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