Most Read IRIS Articles of the Week (February 6-10)

Most Read IRIS Articles of the Week (February 6-10)

Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, February 6-10, 2017 


Click the headline to read the full article.


Enjoy!



1. 10 Ways to Stand out From the Crowd


People always ask me how they can stand out from the crowd. Here are 10 critical steps to take ...  — Roy Osing

2. A Life Hack for Fixed Income Investing


If you’re anything like me, you cherish ‘aha’ moments, especially when that ‘aha’ is the realization that something you’ve been using for just one purpose can do so much more. — Salvatore Bruno

3. Dodd-Frank Regulations: You’ve Been Suckered Trump & Goldman Sachs


The big headline on Friday was Donald Trump has signed an Executive Order to review the Dodd-Frank regulations. He also changed rules relating to brokers, so that they can seek maximised profits rather than being forced to behave in the client’s best interests, as ordered under the Obama Administration. — Chris Skinner

4. Emotions in Business: Why We Need to Show the Side the Makes Us Interesting to Each Other


It seems the more educated we are, the more we try to rely on rational argument and extrinsic motivation to convince people to change their attitudes and actions about such things as diversity, generational differences, client service and client acquisition, succession planning, and flexibility – just to name a few emotionally-charged issues in the workplace.  — Phyllis Weiss Haserot

5. Could the Rally in Global Equities Keep Rolling?


A continuation of the rally in equities globally and growing confidence in the forward-earnings power of more economically sensitive value stocks will likely depend on continued improvement in global economic growth and, consequently, improving prospects for profit margins and earnings. — Cindy L. Sweeting

6. Get Invested, Stay Invested: Preparing for Market Volatility


A market without volatility would be unnatural, like an ocean without waves. The free market, like the open ocean, is constantly churning. For some investors, market-moving waves can be exciting, providing a buying opportunity for mispriced securities. For other investors, the waves might feel violent; but truthfully, for long-term investors, market volatility should be irrelevant. — Samantha Azzarello and Ainsley Woolridge

7. 4 Reasons Determination is Vital to Your Success


Entrepreneurs, business owners, and leaders all understand how life and business can surprise us. You have plans, and they work fine, until you get sucker punched by new competition, market upheavals, or high employee turnover. — LaRae Quy

8. Analyzing How President Trump's Border Tax Would Work


The border tax will ban U.S. companies from deducting the cost of imports that go into products that they sell domestically. At the same time, businesses will be able to deduct revenue from exports while calculating their taxes. Since the U.S. imports more than it exports, the provision would raise revenue. — Dr. Sonu Varghese

9. How to Keep Focused When all Hell is Breaking Loose


We’ve all experienced it; we need to focus on an important, time sensitive task when suddenly we feel as if we had been tossed into a tornado. Fires needing our immediate attention start right and left. So, how can you keep your focus when all hell is breaking loose? — Elizabeth Stincelli​​​​​​​

10. Harvard Just Outsourced: Should You?


Harvard University’s endowment fund just decided to outsource most of its investment functions because it could no longer justify the 'organizational complexity and resources necessary'. If Harvard, along with many other major university endowments, has outsourced at least some of its investment needs despite the wealth of on-staff investment talent, shouldn’t you at least be considering it? — Palladiem

11. How to Enhance Your Ideal Client Experience


Your Challenge: How can you improve the meeting experience with your ideal clients? Unless you understand what they truly value from you, how will you ever know how to improve? — Grant Hicks

Douglas Heikkinen
Perspective
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IRIS Founder and Producer of Perspective—a personal look at the industry, and notables who share what they’ve learned, regretted, won, lost and what continues to ... Click for full bio

When it Comes to Your Money, Does the Truth Hurt?

When it Comes to Your Money, Does the Truth Hurt?

“We’ve been arguing about this for year, and here we are in our 50’s. It’s time to stop!” Laura said empathically.


Paul’s downcast eyes and silence spoke volumes.

Laura continued, “We’ve worked with several advisors who have tried to help us invest our money in a sensible way. Then whenever the market goes down, Paul calls the advisor and tells him to sell everything! In all these years, no matter how much we work to build our financial security, we’re always playing catchup.”

Her words hung like a rain cloud about to burst when Paul began to speak. “I know, I know. I just can’t help it. I get nervous that we’re going to lose all our money. When the market goes down, I scramble—in my thoughts and in my actions. The driving force behind it is: At least if it’s in cash, the balance won’t go down.”

This is the moment where I felt I could lend my advice. First, I needed to learn about this particular couple and their values. Then, I could begin helping them take control of their finances.

“Tell me Paul,” I said. “What did you learn about money growing up? What messages did you hear as a child about money? From your father? From your mother?”

Paul’s eyes moved up and to the left, indicating his mind was reaching for memory. “My parents never talked to us kids about money, really. The one thing that stands out is my grandfather talking about The Great Depression and how it was such a tragic time. My parents both worked, but they never made a lot of money. They fought about money sometimes.”

“Any other memories about money?”


“Actually, yes. I remember when my father took me to the bank to open up a passbook savings and how exciting it was. The bank manager typed the passbook on this old manual typewriter and gave it to me. He showed me how the interest on the account added to the amount I deposited. I felt very grown up that day! But I guess that was the sum total of money training from my parents.”

“Can you help me understand how you and Laura make financial decisions?”

The question couldn’t be more impactful if a boulder had landed on his head. While Laura looked at Paul with a mildly accusatory glare, Paul searched for something to say that would keep his well-conceived protective fortress from crumbling. I interjected to ease the tension. I could feel the guilt in the air.

“Let me frame that another way, Paul and Laura. We all do the best we can as we live our lives. Let’s face it, our lives are filled with responsibilities in our families and our jobs, not to mention outside interests, health, and friends. While financial issues are important, unless you either have the knowledge and experience—or the help, most people avoid getting too deep into the confusion of managing their finances by doing the very least they can. What we don’t know scares us. So we defer, delay, make rash decisions based on our lack of time, knowledge, desire. Add a dash of fear to that equation, and you have a formula for financial problems. I want you to know, you are not alone. It’s more common than you could even imagine. The question is, do we allow the truth in so that we can move forward?”

It’s important to admit the truth behind our actions in order to rectify past and future mistakes or regrets. Living in denial only perpetuates making decisions that could potentially lead to financial disaster.

“I hate to admit it,” Paul said. “I guess in my desire to protect Laura from stress, I’ve made decisions that have hurt us, and I’m sorry. Michael, you hit the nail on the head. You defer, avoid, and allow your emotions to take over. And as a result, bad stuff happens. I think I’m ready to ask for help.”

Laura’s expression softened, and said, half-kiddingly, “You think?”

Michael Kay
Advisor
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I founded Financial Life Focus because I wanted to work with people who put your success at the forefront of everything they do; people who understand that finding balance is ... Click for full bio