Sterling.Edge

@moseleywilliams @MattHalloran_ I didn’t realize Mos Eisley was a real place? No …. Wait…you’re talking about Vegas .. man down

Vegas!!!

A tribute to the countless sailors lost to the deep, like the 29 souls of the freighter SS Edmund Fitzgerald, lost on November 10th, 1975. And a solemn farewell to Gordon Lightfoot, who sang their song. youtu.be/4sFnAG9_ACA

@behaviorgap I don’t follow….. I don’t see how that is possible? Wouldn’t any meaningful type of planning have to further inform someone’s lives? Wouldn’t it only get in the way if they didn’t want or need planning?

Honest questions for my financial planning friends: What if *your* need for plans is actually getting in the way of your clients enjoying their lives?

@profgalloway Thought I was the only one……

Something about my LI profile makes me irresistible to attractive, young Asian women. 15 messages this am. #winning

@TKopelman Fees don’t matter lack of value matters.

We all argue about fees all the time, but the more and more I work with estate planning attorneys The more I realize my fees are more than fair Most I work with are $1000/hr+ but are very worth it! And My fee is half of that Quality professionals will charge higher fees

@MarkMcGrathCFP True… not worried about us… just average investor meeting fancy marketing.

@EdgeSterling For sure but I don't think they're hazardous to people's wealth, it's more how you use them than the product itself.

"Any investment that has become a topic of widespread conversation is likely to be hazardous to your wealth." From Burton Malkiel's classic "A Random Walk Down Wall Street". His examples: - Gold in the 80s - Japanese stocks/real estate late 80s - Internet stocks late 90s ...

Legend

@MarkMcGrathCFP Think about it… look around. The market place is more overwhelming to the average consumer than shopping for a mattress.

@EdgeSterling Index funds?

@MarkMcGrathCFP Big Tech, QQQ, Index Funds

- Condominiums in California, Nevada, and Florida in the first decade of the 2000s - Bitcoin, GameStop, and AMC Entertainment in 2021 What else?

@DanielYerger3 I think it’s pretty apparent… …. Most firms are terrible at creating career paths and/or training people. Additionally, firms that are not built on the sell stuff model have a huge opportunity to create new career paths that traditionally didn’t exist in servicing.

Three contradictory stats: 1) There's an anticipated 70k shortfall of financial planners over the next decade 2) There are more students than entry-level financial planning jobs 3) Firms are having a hard time sourcing qualified financial planners What are we gonna do about it?

@moseleywilliams Condolences Dennis.

@olsonplanner Agreed

You haven’t lived until you’ve paid utility bills on a 100 year old home with original windows.

In 1970 the American middle class received 62% of the country’s aggregate income; today it’s 42%. The top 1% now owns 32% of our nation’s wealth, and the bottom 50% owns 3%. America has never been so disdainful of its workers.

@ShawnaOhm Interviewing now for a remote position, someone who fits that description.

Who do I know that’s hiring a paraplanner or entry level role for an experienced public school teacher looking to career shift into wealth management? She’s the absolute epitome of people skills, analytical thinking, preparation, etc.

@JKembikian @markcecchini Wait….. I do not think they neglect them. I think they are more concerned with problems / opportunities that are more than $5k-$15k. And /Or tied into a crappy provider bundling business services like payroll etc. so there is a perception of additional value.

@markcecchini It's so unfortunate when business owners neglect their 401k plans, especially when low-cost, seamless solutions like Guideline are available. 🤔

if you are a small business owner and your employees' 401(k) menu looks like this... why

@markcecchini Do you think the small business owner is coachable, educated and interested and able to shop a 401k? It cost money to get in front of the business owner. I see the room for improvement like you. I also see the reality business development / service / delivery is expensive.

@moseleywilliams 746

@RubinJMiller The assumption since advisor’s, can’t beat the market. Advisor investment advice is not worth a fee. Therefore, perpetuating a false truth, that the common investor can always beat a professional. Advisors don’t have to beat the market. They just need to beat the client.

What's your favorite example of investment advice that is not supported by evidence but sounds extremely compelling? I'll go first: "Just buy good companies and hold them forever."

@RubinJMiller The mass assumption low fees are more important than anything else. The mass assumption index funds are all the same and asset allocation doesn’t really matter. The mass assumption anyone can just buy cheap index funds and be a successful investor.

@DanielYerger3 I love this statistic, fee-based financial planning is not accessible for most people.

Students are often attracted to the lesser conflicts of interest of fee-only planning but often fail to recognize that commission-based advisors often serve a much larger and more diverse client population, by dint of compensation and client means. (bit.ly/41ulYyQ)

I gave the "tough" lecture in the Retirement Planning class I teach at UC Boulder this week: "The Racial Wealth Gap, Gender Pay Gap, and Special Needs Planning," in which we cover systemic limitations and disadvantages experienced by certain populations in the United States.