Mark Twain once said, “Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did. So throw off the bowlines, sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” On a recent trip to Mexico with family and friends, we did just that. We went zip lining and rappelling. There’s always a new challenge to keep us motivated. We were all in with no turning back!
After we completed this thrilling adventure, I thought about how similar this was to our client’s journey to accomplish their dreams and reach financial freedom. The zip lining adventure was completed because of the safety precautions our guides had implemented. They knew what the critical threats and challenges were and accounted for them. They took the time upfront to explain to us what to expect and how to maneuver effectively. In our business, I find that the most successful advisors set clear expectations for their clients.
Throughout our adventure, our guides were with us all the way offering advice and guidance. As we zip lined, we stayed connected to the cord as we traversed through the jungle and across deep and wide canyons. Your clients have a similar experience when the market delivers times of volatility. They encounter unexpected twists and turns. This is when you fulfill your obligation to them to keep them on course. Like investing, we held on through highs and lows on our way to a safe landing as might be the case for our clients as they move toward a well planned and comfortable retirement.
As far as the rappelling is concerned, we made a leap of faith off a platform eighteen stories high, periodically kicking off the mountain to regain our balance. When you lean back on your rappel rope and commit to going down, your safety is completely dependent on your equipment and your guide. It requires you to have trust in your guide, similar to the trust your client has in you. Think about it, how many times do you recalibrate your clients portfolios to strike the right balance for them? Do you meet with then quarterly, semiannually or annually? By knowing your client, you can implement the appropriate meeting schedule. Your clients rely on your experience, expertise and long term perspective to guide them on their journey to financial freedom.
As advisors, we have been entrusted with an awesome responsibility. True significance in our business comes by not only knowing what to do for our clients but in actually doing it. – Mike Sciortino