It’s Your Money, You Are The Boss!

Are you the kind of person who would, if bumped in a theater lobby by someone rude, say, “Excuse me” or “I’m sorry,” when it’s not your fault?

I believe that you should be a squeaky brake disc, that you should be a strong advocate with your doctors, lawyers, and especially with your money managers.  I have spoken to people (some friends, some just strangers met on LinkedIn) who also have money with a hedge fund manager.  They cannot read their statements, which seem to be purposefully incoherent.  They seem to be ‘okay’ with this notion that they don’t need to understand everything and that it adds to the mystique of it all.  They’re reluctant to ask for explanations, not wanting to seem unsophisticated.  I say that if someone who wants to manage your money cannot explain his or her philosophy in a simple paragraph, then you shouldn’t let him or her manage that money.  And if those who do manage your money cannot simply explain their own statements to you, then you are probably headed for a sad experience.

It’s your money; always remember that.  Money managers tend to think that, once the funds are deposited, it’s their money and the clients are nothing more than an annoyance.  Cure them of this notion.  Call them once a month or at least visit the brokerage site to see how your funds are doing. 

As a growing company, we believe that the best ideas come from clients, from their interaction with the world and that we want them to check in if they have any bright ideas that could help produce superior returns.