The Folly of Client “Minimums”

Using an arbitrary minimum asset level for clients unduly limits the market for financial services providers to those who have already “made it,” and ignores the substantial number of prospects that are ultimately headed for financial success. For advisors, using minimums often means excluding the coveted Millennial group because they do not meet asset requirements .[…]

Clients Who Care About The Joneses

  If clients are to increase their likelihood of becoming wealthy, they have to understand and change how they behave with respect to areas that are, perhaps, a little more personal. Clients that focus intently on what others buy and consistently want the latest and greatest in possessions (such as technology or accessories) are less likely[…]

A New Home for The Millionaire Next Door

Always a teacher, my father loved uncovering hidden trends in the economy, in consumer behavior, and in marketing research, and then sharing them with others. He loved reading articles in newspapers, cutting them out, making notes all over the margins, and then turning those findings into essays on how individuals approach money. I would share[…]

Patterns of Wealth Experiences

Do you see patterns in your spending, saving, and investing behaviors that mirror those of your parents? Or, have you changed because, perhaps, their behaviors didn’t provide the best illustration of how to successfully manage finances? What types of parental experiences are positively related to a child’s future net worth? What sets of experiences would lead[…]

Finding Your Niche, Startup Style

Why is it that you are not wealthy? Perhaps it is because you are not pursuing opportunities that exist in the marketplace. – The Millionaire Next Door, page 211 Great entrepreneurs find novel and marketable solutions to meaningful problems. This characteristic hasn’t changed since 1996 when The Millionaire Next Door was published, although technology has[…]