Today’s Wealth Advisor

By wpadmin on June 22, 2011 in Welcome

The financial services industry, financial advisors in particular, has been slow to adapt to the increasingly volatile economic environment, because until recently, there has been little incentive to do so. The decades of the 80s and 90s were “golden” years for investing, and mediocrity and poor risk management were easily cloaked behind a raging bull market. This has not been the case in the 2000s. As advisors and money managers we have little, if any, control over what the markets or economies will do. We do however have control over the degree of risk we chose to take with our portfolios. By focusing on risk, with an emphasis of meeting our clients’ specific goals, we take direct accountability for what really matters. The markets are indifferent to an individual’s goals and objectives; it just happens that in bull markets, the two are marching to the same drum beat. Tomorrow’s advisors will understand the critical importance of sound risk management, or they might experience the same fate as the Polaroid camera.