mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Financial advisors/planners/brokers have a big plan to try to convert all of us DIYers. This article presents a scenerio that may or may-not be realistic. Should we be more considerate and not concentrate on all of the time consuming personal finance stuff when we could be spending our limited time left on earth with family? Article assumes that by teamng up with a pro, DIYers could achieve "outperformance bonus."
Expect a call from one soon.
Converting A Do-It-Yourselfer To A Client
Expect a call from one soon.
The discussion that follows will be enlightening. It could be Archie values his time and energy and would prefer to spend it on other things besides finances. He may realize Edith wants more of his attention as much as she wants solid financials. There is a cost to doing things yourself, and sometimes people like Archie realize it is a high price. (If you frame it the right way.)
The couple should list things in life that are most important to them. They will come up with several things besides money. Then you should ask them how much better their lives would be if they could redirect their time and energy toward their health or their relationship with each other, their families, friends, their community, their causes or God? How many of those things could they delegate? None. Money matters, on the other hand, can be delegated. And portfolio management is one of the easiest to hire out.
If they realized the high price of DIY, Archie would no longer need you to beat him at some imaginary, beside-the-point investing game. He partners with you to help him keep control of his life. Your likely outperformance is a nice bonus. Hiring you is no longer a threat to his relevance or his manhood; it is a prudent, smart, empowering, liberating choice that has tremendous value even if the value cannot be precisely quantified.
Converting A Do-It-Yourselfer To A Client