Henry Ford would have made a great financial planner—take a lesson

~ Wednesday, September 3rd, 2008

Eighty years ago Henry Ford uncovered the efficiency of product standardization and the assembly line. The product was so standardized it gave rise to the joke that a customer could have a car in any color—so long as it was black. Even though this winning formula for efficiency and profitability is decades old, most financial [...]

Educating your prospects will make you poor

~ Tuesday, September 2nd, 2008

Many financial advisers feel it’s important to educate their prospect. There’s an idea that if you educate your prospects, they can make good financial decisions. I disagree.
And advisor I know well has 18 years of education, 20 years of experience and various credentials. His prospects will never know a fraction of what he knows, no [...]