Sidney Weinberg once described his firm’s culture as “𝘭𝘰𝘯𝘨-𝘵𝘦𝘳𝘮 𝘨𝘳𝘦𝘦𝘥𝘺”. I see t

Sidney Weinberg once described his firm’s culture as “𝘭𝘰𝘯𝘨-𝘵𝘦𝘳𝘮 𝘨𝘳𝘦𝘦𝘥𝘺”. I see the benefits of this culture as a #wealthmanager, although it can be challenging for other advisors to execute due to productivity and sales pressures from higher-ups.

The temptation to chase short-term sales targets by telling clients what they want to hear—like hyping up trendy stocks—can be strong.

However, as the financial industry evolves, the stereotypical smooth-talking salesperson (think Jordan Belfort) is becoming 𝘰𝘶𝘵𝘥𝘢𝘵𝘦𝘥. 🚫 The 2008 Global Financial Crisis and advancements in #technology like Robo-advisors and #AI have transformed my role as a financial advisor.

Today’s clients like you are more informed and cautious. You understand that, net of fees, many fund managers 𝘂𝗻𝗱𝗲𝗿𝗽𝗲𝗿𝗳𝗼𝗿𝗺 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁. Even Warren Buffett has recommended most people to invest in low-cost index funds.

The growth of private #banking and family offices has also shifted the role of an advisor from merely delivering returns to 𝗮𝗹𝗶𝗴𝗻𝗶𝗻𝗴 𝗱𝗲𝗲𝗽𝗹𝘆 𝘄𝗶𝘁𝗵 𝗰𝗹𝗶𝗲𝗻𝘁𝘀’ 𝗹𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝗴𝗼𝗮𝗹𝘀. 🎯

This shift transforms the advisor into a trusted consigliere / Personal CFO, a concept I mentioned in my previous post, which is someone who builds relationships on which clients can depend. Advisors are there to protect clients, often by saying “no” to prevent costly mistakes, guiding them toward smarter decisions, and keeping emotions like greed and fear in check. 💪

I’m even looking at 𝗳𝘂𝘁𝘂𝗿𝗲-𝗽𝗿𝗼𝗼𝗳𝗶𝗻𝗴 clients’ needs, 𝘀𝗶𝗺𝗽𝗹𝗶𝗳𝘆𝗶𝗻𝗴 their financial lives, and even advising on complex family matters or navigating business challenges.

An essential aspect of being long-term greedy is knowing when to say “no” to the wrong clients. This lets advisors focus on building relationships that last. There are no shortcuts or quick wins; it’s about the long haul, about planting seeds today that will grow over the years.

For the advisor in today’s world, adopting a long-term greedy approach—one that 𝘃𝗮𝗹𝘂𝗲𝘀 𝗶𝗻𝘁𝗲𝗴𝗿𝗶𝘁𝘆 and the 𝗰𝗹𝗶𝗲𝗻𝘁’𝘀 𝗯𝗲𝘀𝘁 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝘀—is the path to sustainable impact and success. 📈

CIC ART ，charityinchina.cn