Sound advice in a noisy world
August 3, 2011 by Matthew J. Rettick
Published 8/1/2011
The American economy is in an unprecedented place today. The
markets have experienced severe volatility, and the mortgage meltdown and
foreclosure crisis continues to burden homeowners. There have been fraudulent
scandals and debilitating Ponzi schemes that have scammed people out of their
hard-earned money. All the while the federal debt keeps skyrocketing. At the
same time, one-sided talking heads continue to dominate financial news and
headlines.
The unfortunate reality is that most Americans aren’t sure how to
interpret these major events, and their finances are suffering as a result.
During our country’s turbulent economic times, people need someone on their
side to help them sort through the clutter of negative news and mixed reports.
Now, more than ever, Americans of all ages need unbiased, truthful
financial advice and an honest,
balanced resource to help them take control of their financial well-being and
achieve financial independence. They need a true advisor to give them both
sides on every financial issue.
Our responsibility
It is our responsibility to be sure that Americans have the
information they need to financially succeed, no matter what happens to the
economy. We need to teach Americans how to become financially independent and
successful in retirement, not sell them a financial product to make ourselves a
commission. We need to educate Americans about the financial world we live in
and assist them in making informed financial decisions.
Americans need to learn:
- That the world is biased—don’t accept everything you
hear as financial truth. - That there are two sides to every coin—all investments
have an upside and a downside. - That they have a responsibility to investigate the
facts themselves before making a financial choice.
Once they understand this, they will know what to look for when
making a financial decision and
refrain from just letting an advisor tell them what to do with their money.
They will be taking an active role with you, the trusted advisor, to protect
and grow their money today and into the future.
Don’t just tell your clients they need a product—help them to
understand the financial headlines and what it means to them and their
finances.
I believe as a financial advisor you’re either part of the problem
or part of the solution. Either you contribute to the one-sided, slanted
“advice” your clients are hearing, or you’re part of the solution, giving them
the whole story and an education and then a recommendation on what’s right for
them financially. It’s time for financial accountability, and it starts with
you.
