Our brokerage account custodian, T.D. Ameritrade, has an excellent slogan for their advisor industry advertisements: “You manage more than assets, you manage aspirations”. That aligns well with our philosophy. We have always resisted being called “investment managers”, because investments are but a tool to accomplish goals or aspirations. Everyone has distinct and unique goals.
Aspirations – The Benefits and Risks
Aspirations help provide focus and motivation, but they also tend to be fluffy and sometimes unrealistic. In our advisory process, we provide context to these aspirations and create a framework for prioritizing. By honestly assessing what is reasonable and what is not, we often help clients avoid sizeable mistakes later in life.
Aspirations point us towards what we want. That is very important as much of what we see is investors focusing on what they don’t want, things they don’t want to happen.