Tuesday, April 17, 2007

I'm my fault,

I have to remember that "It's just business" and I shouldn't take it personally.

Yesterday, my assistant brought me the transfer papers for an account that I've done business with for a long time. I was surprised because the value of the account was at an all time high and the client had said nothing about being upset or unhappy with the plan we had in place. I had had lunch with client with in the past two weeks and there was no mention made of any dissatisfaction.

I've always had it in the back of my mind that this particular individual thinks of himself as a high powered mover and shaker in the business world and anxious to engage in new and risky strategies. I've been very conservative with his money and this account ( small as it is ) has been invested in very high quality mutual funds. The client has made a very good return on the assets and there was no reason that I could see to make a change.
I guess the thing that is most upsetting to me is the fact that the client didn't even have the courtesy to call me and tell me he was moving the assets.

My problem is simple, when I take on the responsability of helping someone manage their money I become very personally involved with the account. I feel a strong sense of committment to "do the right thing", even if the client wants to take foolish risks.
Over the past 35 years I've come to realize that most individuals have no idea of how to invest their savings and in today's world it's easy for them to be misled into doing something stupid.

Maybe there's a message in this whole experience that I should pay close attention to. It might just be time for me to "move on" and not worry about foolish people who seem to place little or no value on the work I have done for them.

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