I am frequently asked “who are your biggest competitors”? It is a good question and I appreciate it. The answer is usually unexpected and received with surprising curiosity. Our greatest competitors are not other competing banks and brokerages, but rather human procrastination. In my opinion, this behavioral mistake has reached epidemic proportions. Maybe you have heard the sage advice if you find yourself in a hole, stop digging. Procrastination is a hole. Although, this might seem simple, it is prevalent among investors who are overwhelmed with options, information and an industry that is changing dramatically.
I received a letter from a client recently that reminded me of a quote from the great Albert Einstein. Einstein said “everything should be made as simple as possible…but not simpler.” The client was appreciative for the successful outcomes over the last decade that involved basic and simple fundamentals. I read this note of gratitude just behind an article in the Wall Street Journal reporting on the lackluster investment results of large prominent Ivy League endowments such as Harvard and Yale.
The financial world is changing dramatically. Unfortunately, some of our friends and family don’t always have the needed information or education to navigate these changes and make wise decisions. I’m concerned about it and so are others. The problem of not having sufficient resources late in life is tragic.
With the election behind us, speculation has decreased to some degree. However, the New Year is a customary time to speculate about the year ahead. Most people have an idea, a theory, or the next big thing especially in regards to investments and the markets. Everyone is entitled to their own opinion and free to speculate what the future may hold.
I received a letter from a client recently that reminded me of a quote from the great Albert Einstein. Einstein said “everything should be made as simple as possible…but not simpler.” The client was appreciative for the successful outcomes over the last decade that involved basic and simple fundamentals.
Financial scams continue to clutter our email inboxes and the latest involves sending an imitation IRS notice claiming a discrepancy between income reported by an employer and the taxpayer’s income tax return. In addition to demanding money, these emails have the potential to infect computers with viruses.
Next month, Americans will head to the polls to elect the next president of the United States.
While the outcome is unknown, one thing is for certain: There will be a steady stream of
opinions from pundits and prognosticators about how the election will impact the stock
market. Here are a couple of reasons to remember that investors would be well-served to
We have written before about the emotional reactions investors experience when markets change. Part of our job as advisors is to keep clients from making decisions based on these emotional reactions. Sometimes we talk about this in terms of making rational or irrational decisions during market disturbances.
Our clients may have been hearing about fundamental changes in the regulation of investment advisors specifically directed towards advice provided on retirement accounts. We have written several pieces about this over the last year, and just last week, Vinton was featured in the Wilmington Star News discussing this topic. A link to that article is here:
Many investors may have read that the Department of Labor (DOL) announced a substantial overhaul in the regulation of financial advice given on retirement savings. This new rulemaking will likely change how investment advice is provided to investors who have retirement accounts. Most Americans have some participation in retirement savings through an IRA, 401K or other qualified retirement plan. This regulation is designed to enhance consumer protection.