Friday, February 6, 2009

suze orman

There are many experiences I encountered at work that I want to blog about for memory sake.

For instance, there are some general misconceptions about my job. B loves to argue with me with what I do (for me to get a better sense of "the other side") He loves to point out the inherent misaligned interest between my client and myself. One of the books he gave me has a killer first chapter "fire your investment advisor"... that, my friend, is what you called true love.
My personal defense as follows: I feel quite connected with Suze Orman on CNBC. Sometimes, I imagine myself being Suze Orman of HK one day. Last night, there was a Minnesota NFL backline player asked Suze for financial advice for his large savings in the bank. There are a few interesting tidbits. For example, the average career lifespan for NFL player is 3.5years. The NFL player on the show will be unemployed in his late 20s. Before Suze began advising this young man, she went on a lengthy diatribe on investment advisors. She challenged whether his advisor asked him questions about his career lifespan and future income stream (which any good bankers will do). She was adamant about his investment advisor not having his real interest at heart. "If you can't feel that they care about you, then you are probably right." (with her hands just keep touching on her chest )
The truth is, clients know when you have their interests at heart. They know whether you are churing their accounts. You don't have to reject the notion of having an investment advisor, you simply reject the bad ones with your own instinct. After all, your business acumen brought you to making all that money in the first place, haven't it?

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