Category: financial advisors follow their own advice

07
Feb

Why It’s Important for Financial Advisors to Listen to Their Own Advice

Would you go to a physician who didn’t have the confidence to diagnose themselves with the common cold? Would you eat at a restaurant (even if it had a few Michelin stars) if the chef refused to eat his or her own cooking? If you said “no” to either one of those questions, then maybe it’s time to ask yourself a third question—and this one’s a little more personal: Should you  expect clients  to listen to your advice if you don’t follow the same guidelines and practices that you  recommend for them? We talked to three advisors to understand their view on why it is important for financial advisors to follow the same advice that they give to clients. Here’s what they told us… Invest with Your Clients A common theme was that advisors should invest alongside their clients—in the same assets, same portfolios, and same strategies. “We are big believers in taking our own advice at Warren Street Wealth,” said Founding Partner and CIO, Blake Street. “We invest directly alongside our clients, which helps us stay in-tune with the sentiment they experience since our DNA is not much different than theirs.” While Street’s firm is in California, another advisor...

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