You’re Never Too Wealthy to Want a Good Deal

A billionaire many, many times over, Warren Buffett still lives in Omaha Nebraska, in a home he bought for $31,000 in 1958 and is now estimated to be worth $652,6191. Sam Walton, the Walmart founder, drove the same 1979 Ford F-150 pick-up until he died in the early 90s2.

I’m certainly not in their league, not even close, but I am successful — in both my business and as an investor. And I’m not ashamed to admit that I’m always looking for a deal, for ways to save Read More »

What’s The Phrase Investors Should Have Tattooed on Their Souls, and Why?

The phrase, which has been around in English since about 1545 is, “Rome wasn’t built in a day.” It’s important for investors to take it to heart because essentially it’s a warning against rashness and impatience — which can be, as behavioural economists — and history — keep reminding us, an investor’s worst enemy.

When we react — or over-react — to short-term performance and behave impetuously, we often do it at the expense of our long-term results. On the other hand, those investors who appreciate and capitalize on the Read More »

What do Aretha Franklin, Prince, Howard Hughes, Martin Luther King, Picasso and Even Abraham Lincoln Have in Common?

They all died without having a Will. Equally staggering are the results of a 2018 Angus Reid poll that revealed that more than half of Canadians don’t have a Will.

It’s interesting. In my line of work this is a conversation I have all the time and,over the years, I’ve come to realize two things:

First, death is not a subject most people want to contemplate, let alone discuss — even in the abstract — even though Wills and estate plans are all about protecting and taking care of loved ones — which is one Read More »

There’s a difference between managing your money and managing your wealth …

… and it’s not all your advisor’s responsibility. How effectively your money is saved and managed is up to you. Your advisor manages your wealth and while the two may be connected, they are not one and the same.

What I’m talking about is being personally investedin your own financial well-being.

There was a long article recently in the Sunday New York Times, about a wealth manager whose clients are some of the best-paid athletes in the U.S. One sentence leapt out at me: “To retain his services, eachRead More »

Wealth Is More Than Material

I have been blessed with three wonderful daughters. The eldest was married a couple of weeks ago and it was a magical day — one I will always remember and cherish. It’s a big deal when you walk your child down the aisle, knowing you’re about to step aside, leaving her and her soon-to-be husband to begin their life together.

The significance of the moment really put things — put life — into perspective. And, as I looked around Read More »

A lesson a client taught me

Not that long ago I received this note from a long time client:

“I was accustomed for 50+ years to expect to make a decent income next year, and the year after that, etc.. But after retiring, I realized that I will never again earn any income from my work. That is quite a scary feeling to adjust to. Post retirement, my sole source of feelings of safety is reliance upon you as my advisor, to look out for my interests.”

I’ve been thinking about what he said — and, most importantly, the meaning behind those words ever since; Read More »

Talk To Me

Thanks to a 24-hour news cycle, more cable channels than any of us will ever have time to watch, the Internet, social media and search engines, there’s a ton of information out there, on just about every subject you can think of, including everything to do with money — wanting it, earning it, saving it, losing it, investing it, spending it, sharing it — you name it, somebody’s writing about it.

Everyone, it seems, has an opinion, lessons learned, tips, suggestions and how-to’s and wants to share Read More »

How advisors can really help investors

About a year ago I wrote a post about how the investment industry got it wrong when, in the years of double-digit returns, performance was the way in which we chose to measure and distinguish ourselves — rather than on the real value we provide — actually counseling clients.

Recently I came across an article — The Winners’ Game — written in 2011 by Charlie Ellis. It’s as relevant today as it was then.

Ellis, for those of you who might not be familiar with him, is an American investment consultant knownRead More »

It’s The Value You Get Beyond Returns That Deserves Your Attention

I’m always fascinated when I overhear people talking about investing. Most of the time they’re strictly focused on performance. Frankly, it’s short sighted, but the truth of the matter is that’s the way it used to be.

For decades, when so many of us were enjoying consistent double-digit returns, all we talked about was performance. Ads for investment advisory firms and mutual fund companies concentrated solely on the numbers. “Performance” was how we positioned ourselves, how we Read More »

Why it Takes More Than Just Results to Determine an Advisor’s Value

Fact: Losing teams don’t fill stadiums and arenas. Everyone knows ours is a results-obsessed culture. But when it comes to investing we actually do ourselves a disservice when we evaluate Advisors solely on returns.

To begin with no Advisor, not even the most knowledgeable, experienced, talented and successful among us, can be right 100% of the time. In our business there are no crystalRead More »