The Television, Internet, and Your Money

With the satellite companies and cable companies, and more people accessing the internet, the TV and the world wide web are the frontiers of valuable information sources. Right?

Wrong. When it comes to wealth management, most of these provide little to no valuable information. As a manager, it is very important to monitor the investments and make decision based on new information. By the time it is REPORTED on the internet or TV, it is old news that has already affected your investments.

The primary function of television is advertising, not information or entertainment. Without sufficient advertising, any channel will go off the air. Their job is to draw you to their channel so you see the advertisements (that companies have spent millions on to get you to see their product).

The information, especially in today's turbulent markets, is creating an emotional response about investing, and financial decisions should never be based on emotion!

To hear the Smart Money Radio Show segment where Bruce discusses the influence of media on investors in today's market, Click Here! (about 7 minutes long)



To hear the full Smart Money Radio Show where Bruce discusses Private Wealth Management, Click Here! (about 25 minutes long)

A Second Opinion on Your Portfolio

In healthcare, patients look for a second opinion from another medical professional. The key factor is that it is usually not the patient’s diagnosis that is in question, but the recommended treatment for the particular infliction.

Through the years, we have reviewed hundreds of accounts where the people are working with a broker or planner who does take into account many different variables, and our second opinion agrees with the steps taken. Let me repeat that, we don’t always find significant problems in our portfolio reviews.

Most investors can sense when there is something wrong with their portfolio. The problem is that they either ignore these ‘symptoms’ hoping the problem will go away (it doesn’t), or they have no idea where to go to get a second opinion.

By using a balanced approach, we can talk about the strengths and weaknesses of your total portfolio to give you a clear picture of where you are today. By avoiding a sales pitch, you won’t have your portfolio “problems” blown out of proportion. Don’t think it can happen, let us give you a real world example.

Have you ever looked to a buy a new car? Think of the sales process. The salesperson, once he knows what you are looking for, will begin to make comparisons to what you drove onto the car lot. The more benefits of the new car they point out, the more problems you see with your old car. That same thing can happen with a review of your finances.

Remember, your second opinion needs to be objective and avoid a sales pitch to be effective for you and your financial future!


To hear the Smart Money Radio Show segment where Bruce discusses paying fees for private wealth management, Click Here! (about 7 minutes long)


To hear the full Smart Money Radio Show where Bruce discusses Private Wealth Management, Click Here! (about 25 minutes long)

Not Happy with Your Retirement? Remember- It's YOUR Money...

The first rule of personal finance is to understand that your money is, in fact, your money! The ultimate responsibility for the management of that money lies solely with you. If you are unsure or unable to provide that management, you can enlist the help of professionals. Even with their help, though, the ultimate responsibility remains with you!

In times where you may be unhappy with the performance of your investments, it should not be a surprise that  a financial professional may not share your sentiments. You are the one who is losing money, not them. "Outsiders" almost never share the same passion that you have about a prized possession, a favorite pastime, or a loved one.  Money functions the same way.  The only way to level the playing field is for you to get involved by learning the basics of sound money management. You need to be able to communicate clearly your needs, risks, and tolerance for different scenarios, and expect simple, clear responses in return.

You must learn to ask questions about your money, and only be satisfied when you can understand the answers you receive. If you're not getting those clear answers, a new path may be warranted.

Allowing someone to have free reign over your financial affairs is like walking into a car dealership, announcing that you wish to purchase a new vehicle, signing a blank check and handing it to the salesperson.  I would never do that, and I don't think you would either.   With that sceario in mind, would it amaze you to learn that many people do basically the same thing when it comes to their retirement or investment programs?  Step one for sound financial management is for you to get involved because it is your money!