“Change is the law of life. Those who look only to the past or present are certain to miss the future.” – John F. Kennedy
Everyone sells something. Physicians, lawyers, architects – all are selling some type of remedy, or solution to a problem. What do we sell? Some might say investment returns, others might say financial peace of mind. Actually, we are selling change. That is, moving clients away from the status quo towards the future…their future.
In the 3 decades we have been advising successful individuals, remarkably little has changed in terms of the status quo within the traditional financial services system. Stock brokers are now called “financial consultants” or some derivation of that; but their “solution” is the same as it was 30 years ago. Buy their pre-packaged, expensive products based on their “analysts’ forecasts” predicting what is going to happen in the future. Mostly this is like shooting in the dark. The target is only hit by chance, not by design.
New clients come to us in search of something – How to reach a financial goal; how to lessen their risk; how to accomplish something. By definition, they would already have reached their goals if the status quo worked. It doesn’t. The entire approach has to change. They have to change. That is what we sell.
So, what exactly is this change?
- It might be, re-focusing on the long term instead of reacting to near-term “noise”.
- It could be spending less and saving more.
- It could be postponing retirement and re-thinking all the complexities in their financial lives.
Whatever the case, our role is to function as a catalyst towards change and away from the status quo. Change is good.