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- Ask Nick December 2007
Q: I've crafted approach language for individuals, based on your script in The ...
A: To the very limited extent that I understand this question, I can't begin to ...Q: I'm a successful CFP/advisor, and must decide whether to keep a 401(k) ...
A: Resign the account in the next five minutes. You've allowed yourself to ...Q:Our clients here in Canada have had their U.S. equity funds and global funds ...
A: As the late Louis Rukeyser used to say, "Don't just do something; stand ...Q: Do you think there is an optimal way to enter the business, or do you think this ...
A: I don't think it's subjective at all. It is twofold, and both steps should be ...Q: I'm a new subscriber, though a longtime fan, and I'm not sure whether you've ...
A: Let me begin by suggesting that you may indeed be projecting these fears ...Q: I'm developing a financial planning practice as I prepare for retirement from ...
A: No, indeed; I can give you no...keep reading
- Ask Nick June 2009
Q: Do you have a recommendation of a book that would ...
A: I don't know of any such book, and I think you're trying ...Q: Do you feel from your discussions with other ...
A: It's not hard to understand why "analyticals," as you call ...Q: I have been talking with many Baby Boomers over the ...
A: Since your instincts are correct--no one, in the dark ...Q: I consider myself an asset gatherer, not a money ...
A: If you believe that Eliot Wave Theory will consistently ...Q: Have you found that a client's profession can (very ...
A: Engineers are, by orders of magnitude, day in and day ...Q: I believe in using variable annuities with living benefits ...
A: To the less important issue: as a general statement, the ...Q: I have a meeting this week with an attorney and his ...
A: I would first, if you can, applaud both client and attorney ......keep reading
- Sixteen Hundred Hours
In my new book The New Financial Advisor, I suggested that, even in your most intense business-building years -- when prospecting is (or ought to be) virtually your whole life -- you probably can't work more than about two thousand hours a year....keep reading
- Risk Tolerance
The Moving Target Our Clients Can Never Quite Hit
One of the sillier fictions energizing our compliance departments in recent years has been the notion that our clients have an objectively knowable -- and fixed -- tolerance for "risk."...keep reading
- The Eleventh Commandment
Charles Schwab is in many respects a brilliant company, which virtually invented discount brokerage after Mayday 1975, pioneered taking that business online, and developed a first-rate platform for RIAs, among important other accomplishments....keep reading
- September 2004 PDF Newsletter
September 2004 PDF Newsletter...keep reading
- Ask Nick May 2009
Q: Been at this profession 13 years, have a wonderful ...
A: I not only can't predict whether and to what extent you ...Q: I am wondering what you would say to a client who does ...
A: I fail to see what this has to do with "positioning for the ...Q: Do you have a general opinion about Socially ...
A: I do indeed have a general opinion about so-called ...Q: Since the beginning of the bear market that we're in I ...
A: The most direct answer is, "Leave me out of this, or ...Q: What do I tell them now? I've got a handful (or less)
A: This question is very nearly incredible to me. I can't ...Q: A good friend died about 6 months ago of liver cancer. ...
A: Few advisory relationships survive the death of a...keep reading
- Client's Corner: Your Investments Don't Know What You Paid For Them
One day in the late nineteenth century, the steel magnate Andrew Carnegie was being toured around his company's newest plant by his chief operating officer, Charles M. Schwab. Even as Schwab extolled the plant's modernity, Carnegie sensed a hesitancy that wasn't characteristic of his normally ebullient lieutenant, and inquired as to its source....keep reading
- All You Can Say Is All You Can Say
It's nowhere near enough for you to know that your prospect family is, financially speaking, mortally ill....keep reading
- THE ALTERNATIVE IDIOCY IMPLODES
For much of this year, as I waited my turn to speak at some industry meeting, I've heard wholesaler after wholesaler touting the Harvard and Yale endowment fund approach to investing, which seemed to be code for: hideous and heedless overweighting in "alternative investments" such as hedge funds, "managed" futures (there's an oxymoron if I ever heard one), and private equity....keep reading
- Dividend Growth:
The Rodney Dangerfield of Investing
"Dividend growth provides income, inflation protection and dampens volatility. The chart compares 74 years of dividends (green line, right scale) to stock prices....keep reading
- Upcoming Class Schedule
Upcoming Class Schedule...keep reading
- More on (no pun intended) the Greenspan valuation model
Last month I admitted a perhaps unhealthy - and at best highly personal - fondness for the so-called Greenspan valuation model, which relates the stock market's earnings yield (the inverse of the P/E) to the yield on the 10-year Treasury in an attempt to suggest a fair valuation for the market....keep reading
- November 2006 PDF Newsletter
November 2006 PDF Newsletter...keep reading
- Ask Nick February 2011
Q:Your "Gold Bubble" piece saved a client of mine from going off a cliff in the ...
A:Let me begin by wondering aloud why you are still dealing with this guy. I ......keep reading
- Stop Managing Money
In my book The New Financial Advisor, I say that 95% of one's total lifetime investment return results from one's adherence (or failure to adhere) to four fundamental principles......keep reading
- Ask Nick December 2009
Q: Do you have any general thoughts on the subject of tax-loss harvesting? ...
A: I don't see any compelling reason to do it: in the largest sense, I think all tax-...Q: I sat down with a person the other day to discuss their proposed plan that I am ...
A: You don't. It's gratuitously argumentative. You say something to this effect: ...Q: The good news is that I've recently hit a vein of referrals: relatively high-...
A: You know this answer is coming: you don't convince people of anything--...Q: I know you don't do essay questions, and I'm not asking for an essay. But do
A: Why, yes. Ecclesiastes 1: 9 - 11...keep reading
- August 2006 PDF Newsletter
August 2006 PDF Newsletter...keep reading
- Ask Nick November 2009
Q: You spoke on a recent conference call about doing what you called a "back of ...
A: 1. Ask the prospect for a ballpark number as to the monthly amount he would ...Q: You're not going to believe this one. In the last few days I have had four ...
A: First of all, I can well believe it, because this psychology--fear of the market ......keep reading
- May 2005 PDF Newsletter
May 2005 PDF Newsletter...keep reading
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