If The Public Only Knew

As an FA, you should be conversant with every topic I cover in these podcasts. The tone will be supportive of the role a high-quality FA should play in the lives of their clients. `

• If you find yourself getting tripped up by certain types of objections and can’t get past a client’s resistance to follow your guidance, leave me a request to address the issue, and after you hear the way I would get your client to agree to your suggestion-send them a link to the episode-what a co-inky-dink.
• Example: A 75-year-old client owns 5000 QCOM with a cost basis of 14. The total LMV of the portfolio is $1.2myn. $890k in QCOM, balance in mutual funds.
  • If the client came into my office for portfolio advice, my approach would be: Let’s assume you have $667K in cash since QCOM was sold and LTCG taxes were paid. Would you be willing to invest all that money into what “I believed” would be the next QCOM?
  • Perspective beats emotional attachment more often than not...