Extreme results. Extreme desire. Extreme decisions. The year is 1999. My Managing Partner (GA) at the time, Bob. Walks into the office one morning and smells smoke. There’s a fire in the office, he thinks. Bob rushes in, past the rows of cubicles on the second floor of our office in downtown LA, tracking the smell – and now, a whisp of smoke in the air. It leads him to my cubicle, where he stops abruptly with a quizzical look. Sitting calmly at my desk, I’ve removed the plastic bag from the inside of my trash can. I’d then taken […]

An advisor I know was recently brought into a situation that I’ve never had any real experience with. Within a family of clients, the daughter, now in her 60’s, is a schoolteacher. She makes about $60k per year. She’s also the sole trustee and beneficiary of a billion-dollar trust that she doesn’t want anything to do with. Her mother passed away recently, leaving this trust and all of its proceeds to her. To make things even more challenging, the daughter’s husband is terminally ill with cancer – so they definitely need the resources. In fact, the entire family has used the […]

“I’m not so sure about this market,” Tom said. “What do you think? And how should I be feeling?” “The market is the market,” I replied. “My crystal ball broke yesterday!” My longtime client, sitting across from me, laughed. “That being said, things will continue as they are,” I went on. “Rest assured that we are here with you and doing everything possible to make sure you are protected.” He nodded, visibly relieved. “But what you have to ask yourself is when do you need this money?” I continued. “No one likes seeing losses or a decline in portfolio value. But, then again, […]

My family relocated to a new state a while back, but my son has really struggled with the move. Before we packed up and made the journey, if you’d asked me which one of my kids I thought would have the most difficult transition, it would not have been him. My daughter has done well; really thrived. She is very much like me. We go into every situation with both eyes open. No matter what it is, we embrace the experience and make the best of it. That can be both good and bad, but I my son’s process of adjusting […]

In 1973, Charles R. Schwab decided to disrupt an industry and challenge its limits. Until then, his chief focus was putting out a subscription-based investment newsletter, Investment Indicator. But in 1973, Schwab and his partners formed Charles Schwab & Co., focusing on providing investments to the common person. Only two years later, that served to be prescient as the U.S. Securities and Exchange Commission essentially deregulated financial services with the Securities Acts Amendments of 1975. Before that act, securities could only be bought through a salesman, who often drove up the price and pushed riskier investments to earn more. But […]

Lazy people do a little work and think they’ve worked hard. Hard workers work hard and think that they’re being lazy. I heard that from a coach some time ago, and it always stuck with me. And I feel that this message is more important than ever. We need to share this with our kids, friends, family, team – everyone. And there is no getting past your work ethic. There are no shortcuts or magic tricks. Of course, we want to work smarter, recharge the batteries, enjoy the ride, etc., too. But no matter what you want to achieve in […]

“Are you enjoying the move and living in Arizona?” I asked my daughter. “No,” she responded. “Really? Nothing at all?” I replied. “I guess I like my school and our house,” she said, pensive. But I liked my old school better and our old house more.” If you want honesty, just ask a kid. Wouldn’t it be great if we adults could answer questions the same way kids do? Ask a question, and get an honest, uninhibited answer. Nothing else. No fluff. No agenda. Just unabashed truth and you know exactly where you stand. As I’ve gotten older, I notice […]

What if I…? How about if I tried…? What if I changed…? Have you ever asked yourself those questions? We probably all have. It’s simple human nature to lament that we’re not living up to our personal potential. We regret our shortfalls; ponder opportunities lost. Those lingering questions echoing through your head may sound something like: What if I got up at 5 am instead of 6 so I could go to the gym? What if I only had alcohol on the weekends? How much better would my day be if I went to bed an hour earlier? How would […]

If everything is urgent, nothing is urgent. Sometimes it’s hard to remember that. It’s so easy to focus on the thing that’s in front of us, to put out the fire in our proximity that is getting a little too warm. We’re hard-wired to handle the most pressing threat NOW. So, we end up performing triage – over and over again. But if we would just take a step back, the result is usually much better. By zooming out and looking at the big picture, we allow ourselves to think clearly about the true problem, seeing all available solutions. I […]

Be the fixer. If a client or a friend has an issue, be the fixer. Whether you get paid or not, be the fixer. No matter if it benefits you or not, be the fixer. Answer the questions. Provide the resources. Make the introductions. Always think in terms of solutions, focusing on what you can do to make their life better, whether marginally or immeasurably. To aid you in this mission, you should know your subject matter hands down – and then bring in the team to complement your knowledge and experience. That is the formula for a life of […]