I have always marveled at the cleverness of the long running Miller Lite advertising slogan: “Tastes Great, Less Filling”. Advertising Age magazine lists this slogan among the top 10 of all time… not bad! There is a direct corollary between this slogan and investment decisions. Many investors want their investments to “taste great”, to provide premium returns, but be “less filling”, not have much risk. Most of the packaged investment products sold by brokers follow this time-tested maxim.
Premium Returns, No Risk?
The problem is, risk and return are related to one another. The reason many investors want to finesse this point is simple… fear. They fear they will lose money in the market; they fear things are different than they were in the past; they fear all the unknowns and the unknowables. Fear is perhaps our most innate and adaptable emotion and it can destroy an otherwise sound financial plan all by itself… if you allow it. Our role, as real financial advisors, is to provide clients with 100% honesty. That alone makes us different from other firms. The traditional financial services firm thrives on the “tastes great, less filling” concept because it deludes people into thinking these firms are acting in their best interest when in reality they are not.
We help clients to develop a real financial plan, based on what matters most to them, all from an un-conflicted perspective. Many, if not most, of the otherwise successful individuals today suffer from some form of “financial sickness”. That is, they have bought the “tastes great, less filling” narrative and it has served them poorly. In many instances, they arrive in our office in their 50’s or 60’s mortally ill from a financial planning perspective. The path many have followed has not fostered financial security, but instead has perched them on the cliffs of financial ruin. They are in real danger of outliving their resources and need a totally different approach.
The Real Objective
We offer a cure. No, not a quick packaged investment product “solution” that promises “better performance” but instead a goals focused perspective. You see, better performance isn’t the real goal; not outliving your financial resources is the real goal.