Changing Perspectives

Blog post #392

After my three-day learning group session ended with fellow advisors from across the country in Monterrey, California, I went for a walk before heading north towards the airport. 

As I walked along the jagged, rocky Pacific Coast, I came upon a group of people peering into the Pacific Ocean. 

I took the following picture…..as I was focused on the ocean waves crashing into the rocks. 

As I got closer to this gathering, it seemed like some of them had pretty extensive photography equipment. Some were talking, others just looking out. But I didn’t listen carefully enough. I took this next picture….still focusing on the water. I was looking for sea lions, but didn’t see any in the water. But I kept looking…..

Then I heard what the others were saying. I listened better. Then I realized my focus was wrong. I had the wrong perspective.

I was looking out too far. My focus was incorrect. 

Much closer to me, but not in the water, were many sea lions or sea otters warming themselves on the beach… not in the water. This is what the others were focused on, which I did not see at all. 

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As investors, you may sometimes be focused on the wrong thing. It is our role, as your guide and financial advisor, to help you to focus on the right things. We want you to have the proper perspective.

You may be focused on political concerns or that the US or other International economies may be slowing. 

However, we feel that it is vital to remain invested, as appropriate to your personal Investment Policy Statement (asset allocation plan). We feel that this discipline is important to help you reach your long term financial goals. We think this is the best perspective for your financial future. 

So while it may be true that the US or International economies may be slowing, with that perspective, you may not realize that US and globally diversified stock funds are up double digits for the year. 

Is your focus and perspective on the right things? Are you focusing on the long-term or what you can control?

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For the past 15 years, I have been privileged to be part of an incredible learning group. We started in 2005, with a core group of advisors who were willing to try something new and join a program led by a financial industry expert, for a significant fee. The group’s members and how it has been run has gradually changed and evolved over the years, but the focus has always been on learning from each other and from the many speakers we brought in.

These meetings and the discussions, and during regular calls between meetings, gave us new perspectives. It helped to make sure we were focused and had the right perspective….what were the best ways to serve and advise our clients. We wanted to keep current and exchange ideas, so we could be better for you, our clients. 

Since the very first session in the summer of 2005 in Santa Monica, CA, I have not missed what became an annual Spring meeting, as well as October sessions, and for the past few years, a few days in January. 

For a multitude of reasons, I will likely be part of a new learning group starting this fall.I have mixed emotions about this transition, as I have developed great personal relationships with the members of my group. However, many of these advisors are older than me and will become part of a group which will have a greater focus on issues related to their own retirement transitioning. Their perspective is different than mine, as I am not retiring anytime soon. 

As we discussed the group’s transition Monday morning, one member from Nashville stated “this is about business. It’s not personal.” And he is right. I need to do what is best for my clients, which is what we always strive to do. 

While I may miss some of these personal connections that I have made, I will surely develop new ones….and that is exciting and invigorating to me. It is an opportunity to learn and exchange ideas with a new group of outstanding advisors. 

And that is really the primary goal of these learning groups. My responsibility, focus and perspective is always to strive to be a better advisor, to continually learn and develop a better firm, so we can better serve, guide and advise you, our clients, as best as we can. 

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As I write this on the plane back from California Wednesday morning, I have many pages of notes, ideas and concepts. I look forward to digging deeper and implementing the ideas that were presented and discussed, which will benefit you, our valued clients. 

From the broadest perspective, I remain very confident in our long- term investment strategy. 

As I tighten the focus, our mission is to strive to provide each of you with an excellent financial experience, hopefully for your lifetime.

And we will have a far better chance of providing you with a successful financial experience by participating in these learning groups, as well as other ways to learn and strive to always get better. 

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If you have worked with other financial advisors, you may (or may not) realize that many of them likely do not participate in these types of learning experiences. Ours are not trips provided as a reward for selling a certain mutual fund or reaching some sales/commission target. 

If you have friends or relatives that could benefit from the advice and guidance which you have received, and from the dedication to continuous learning that we have, please let them know about our firm. We would be pleased to help them as well. You can start the conversation. 


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