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Investment Philosophy & Beliefs

“Successful investing is simple, but it’s not easy” – Warren Buffett

Warren Buffett has suggested that the stock market is a device to transfer money from the impatient investor to the patient investor. Money is an emotional topic and often these emotions work against the successful investor. I believe that a long-term focus, coupled with the ability to temper the emotional highs and lows that inevitably come from investing gives investors the best chance to succeed over time. At its core, investing does not have to be overly complex. The investment management industry, like many professions, injects complexity to confuse their clients and help justify their fees.

“Investing should be run more like a profession than a business” — Charlie Ellis

I don’t run this practice like a salesperson. Instead, I focus on my clients, their needs, and how distinct planning can help facilitate their success. Additionally, I believe that the structure of the investment management industry often leads to the creation of client portfolios that are more aggressive than they should be. At the end of long bull markets, it’s not unusual to see retired clients with portfolios that have 80% or 90% or 100% of their funds invested in the stock market!! This is often caused by an overly aggressive advisor operating with incomplete information about the risks of the stock market coupled with a client that has unrealistic expectations about risks and potential returns.

Finally, all investors should ask if their financial planner is charging too much. I believe that a capable and qualified financial advisor is worth paying for and clients should be aware that investing always entails risk and clients will incur costs. You just need to make sure you aren’t taking on too much risk and paying too much.

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