Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Pondering the "Big Question"

As my business, Newbridge Advisors, starts to expand and we bring on new advisors.  I ponder on what is the key to getting people to be interested in what my firm can offer or any firm for that matter.

Within the Industry there are about 3 hot buttons that will make any advisor, manager, analysts perk up!  Those being Payout, Compliance, and Client's Leaving.

Now the "Big Question" is what are the 3 things the individual investor will always perk up about.

Let's brain storm.

Perhaps, death and taxes.  My issue with these is that they are specific and general at the same time.  Thus most people will generalize them so they don't have to worry about them.  "Death" is a long way off most will decide and they can't control "taxes."  So those really can't be the hot button.

Maybe "More Money."  But that is also very general.
How about "This Advice is Better!"  I don't know if anyone really pays that much attention to those kind of details.  What makes advice good or bad?  Oh, wait, maybe it is more money. 
If I give you advice, and you don't make money, it was worthless.
If I give you advice, and you make a profit, it was totally worth it. 

Yes that is good, but you really can't build a trusting relationship if it is built on your advice always making money.  Sometimes it doesn't, look at the people saying that the Dow was going to 4k.  Since March, that advice hasn't worked.  But does that mean all the advice they give is now worthless?  I would figure most people feel that way.

Maybe what people want is Honesty.

"How do you do your research?"
"How do you manage your own money?" (saying that to the advisor)
"Who is over seeing you?"
"What is your long term business plan?"
"What is your family like?"
"Where did you grow up?"

Giving the answers to those questions would be and should be honest. 
But maybe on our side we need to be even more honest. 

Perhaps it is "Blunt" Honesty that needs to be told.
'Yes, "Asset Allocation" is not the end all be all in investing'
"Yes, you will lose money from time to time."
"No, we don't have all the answers."

How about these?

"Yes, Deflation will destroy your future."
"No, you don't have enough money to retire."
"Yes, I personally and deeply care if you are okay financially and emotionally."

Like I said up a few lines, I don't have all the answers.
The "Big Question" eludes me at this moment.  I hope someone will tell me, maybe the tooth fairy will come and let me in on the secret. 

She will probably say "Blunt Honesty."


- Andrew J. Evans
Crossover to Success!