Wealth Advisor: Finding A Good Fit

February 1, 2018

Here’s what we know, there must be a good fit for long-term success with an wealth advisor. While you are evaluating an advisor for a good fit, they must be evaluating you as well. 


We reviewed our most enduring relationships and have identified Seven Key Characteristics. 


#1 They Live Their Life by Principles 

Principles like honesty, integrity and hard work to name just a few are the foundation of everything they do. They do not sacrifice principles for results... the ends never justify the means. 


#2 They Know the Value of a Dollar 

Mr. Plimpton, a southern Texas manufacturer, said it best when he said, “Every dollar that I have is valuable to me. It came by the sweat of my brow and I risked everything I owned to start this business and keep it running. I don’t want to pay one more dollar in taxes than I am required.” They have worked hard to earn, save and accumulate their money. 


#3 They Believe Wealth is More Than Money 

They know True Wealth has many dimensions... including personal, social, spiritual, human, and intellectual capital. They believe all wealth is worth preserving. “Relationships are more important than my money. Of 

course, I want to have enough to secure my lifestyle, but I want to positively impact my family and my community.” confided Dr. Lynnfield, a long-time widow. 


#4 They Are Open to New Ideas 

 They know there is no monopoly on ideas, no corner on creativity; therefore, they approach new ideas with an open mind. Many have a reasonable plan and good advisors... yet, a good advisor wants to move to the next level. 


#5 They Know Strategy Trumps Tactics 

Their experience has taught them the value of strategy first: aim before you fire. Even though strategy requires more time up front, it pays off handsomely in the long run. 


#6 They Know What They Do Well 

By implication, they know what they don’t do well. “I tried the do-it-yourself route with my planning. What a disaster! I know enough to be dangerous... besides, I can make more money with my time than it costs to delegate.” shared a business owner who recently converted the wealth in his business to cash. 


#7 They Care About Value and Quality 

 They agree with John Ruskin when he said “There is hardly anything in the world that some man cannot make a little worse and sell a little cheaper, and the people who consider price only are this man's lawful prey.” They hire, respect and reward talented specialists... and desire win-win relationships with people they enjoy. 


These Seven Key Characteristics have been the foundation for every enduring relationship we have... and we look for them in everyone we work with... whether business owners, retired professionals, male or female. 

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