More than a year ago, I published a piece for Investments and Wealth Monitor that was a follow up to an interview I participated in as part of the Schwab Impact Conference in 2016. It felt appropriate to resurface the article now because many of the ideas are increasingly mainstream today even if they felt a little radical only a few years ago. Alas, it’s important for affluent investors to discern between talking points and the implementation of tools that will assist with financial self-actualization.
Historically, the sale of investment products has been Wall Street’s de facto approach to addressing the concerns of a client. This approach addresses the symptoms, not the causes, of an investor’s worry. When we started SWS Partners, however, we wanted to help investors address the causes of their financial concerns. Therefore, we lead with financial planning, not selling products.