Job 1...Not Wealth Creation

I have attended many professional meetings over the years where the focus comes down to how to assist clients with wealth creation. Well, on the white board in the conference room at present we have written "Job 1 is NOT wealth creation. Rather , it is helping clients avoid big mistakes". The degree to which we succeed largely depends on how "advisable" the client may be. The holistic and independent perspective we occupy provides us an advantage over most others.

We all are going to makes some mistakes but we must avoid large mistakes , particularly those that result from "big bets" on business and real estate ventures . These tend to be particularly harsh and can have totally wreck an otherwise sound financial plan. Wealth creation...long term wealth creation, is about discipline and diversification. Sometimes the best advice we can provide a client is three simple words "don't do that".