Winter is Coming

 

Just as a market crash can be a buying opportunity for savvy investors, moving before a crash can be an effective survival strategy for advisors.


I am not advocating that everyone reading this should go out and change firms tomorrow just because we may be about to encounter economic Armageddon. However, I read history and I can see indicators, just like you can. 

What I am suggesting is that everyone should have a Plan B, vetted and ready, if a ‘doomsday’ scenario begins to manifest. That Plan B may involve changing broker/dealers for strictly economic reasons.

If you don’t have a back up plan solidly in place, we need to talk right away. Paul Reilly, the CEO of Raymond James, recently opined that even a prolonged downturn in the market is likely to reduce what companies offer to advisors to move.


You current firm is not going to give you a forgivable note for several hundred thousand dollars or so to show their appreciation for your feilty. Loyalty is for dogs, and Wall Street knows it. Most firms will, however, readily hand a big check over to an outsider moving from another firm...but sorry, nothing for you.

If you are a ‘bazillionaire’ and none of this matters, good for you. But the truth is that people who have a healthy sum of money in the bank sleep much more soundly and securely than those who do not have that. If you aren’t in the former category right now but would like to be less vulnerable, knowledge and preparation are your friends. I am available and able to assist you with both.

 

For information about our services, please click on the tab titled "The Truth" above.

Sincerely,
Ron Edde
760-583-4806


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