The following quote from Nate Silver’s The Signal and the Noise is brilliant and applicable to almost everything:
“New ideas are sometimes found in the most granular details of a problem where few others bother to look. And they are sometimes found when you are doing your most abstract and philosophical thinking, considering why the world is the way that it is and whether there might be an alternative to the dominant paradigm. Rarely can they be found in the temperate latitudes between these two spaces, where we spend 99% of our lives.”
Although he wasn’t speaking about the financial services industry directly, he very well could have been. There is a dominant paradigm in this industry that has a stronghold – it needs to be looked at closely. Why is it what it is and is there a better alternative, are questions that need to be addressed.
We are intentional about trying to spend time outside the “temperate latitudes”. What are the problems our clients face? How can we be a part of the solution?
Our services (See our Index HERE) and the structure in which we deliver them are not normal in this industry. We value transparency and direct interaction, and through education, we are attempting to chip away at the dominant paradigm. We are attacking what’s normal. Thankfully, we are not the only ones out there in this fight…it will take time, but the tides are already beginning to shift.
If you have not taken a hard look at your relationship with your financial adviser recently it’s time to do so. Review the structure of it (is it efficient), review your holdings (if you own A Shares or C Shares – get out of there as quickly as possible), and ask yourself why they are what they are and is there a better way?