Oh the things these ears have heard . . . including lots of financial advisor sales pitches.
As many of you know, I don’t drink coffee.
This has nothing to do with my views on global warming or the plight of the poor, lowly coffee bean.
I just never drank the stuff.
In fact, not sure I’ve ever tried it.
Nevertheless, I spend a fair amount of time in coffee shops meeting with clients, professional partners, potential clients that I’ve been introduced to, and others.
He had coffee. I had some of Fulton County’s finest ice water. From the tap.
Sometimes, I get to these coffee shop meetings a little early. Or I’ll hang around after to catch up on emails.
And this is when I’m sometimes privy to some very personal conversations.
I’ve overheard all manner of conversations from relationships to sex to parenting to money.
And this isn’t me dropping a napkin on the floor just so I can lean over and listen in. Some of these folks (men and women) are LOUD.
This is especially true when they’re on their phone and practically yelling about their personal lives to whoever happens to be on the other end of the line.
And you know what?
It turns out that I’m not the only financial advisor who spends time in coffee shops like Starbucks.
More than once, I’ve overheard what can only be well-practiced pitches being delivered to what I can only assume are their customers. Note: I call them customers deliberately because based on what I’ve heard, they couldn’t possibly be considered a client (see definition #1 here).
Over the years, I’ve heard it all.
Bank on Yourself pitches.
Money Manager pitches.
Alternative Investment pitches.
Expensive mutual funds.
Speculative private placements.
You name it . . . I’ve probably heard it.
And while I sometimes wrestle with speaking up or saying something to the “catcher” of these pitches on my way out the door, I never do.
I tell myself that I don’t have the full context or it’s not my place to interject my opinions into these conversations.
But what do you think?
Should I say something if I feel someone is being potentially steered the wrong way?
Would you want me to say something if you – or someone that’s important to you – was on the receiving end of one of these potentially problematic pitches?
I’m interested to know what you think, so reach out and share your thoughts.
And if you know someone in their 50s or 60s that is dealing with a life transition (retirement, divorce, widowhood, etc.) and they’re a nice person like you, I’m happy to spend some time with them to review their situation and share my thoughts. There’s no cost or obligation. If it’s someone you know and like, well . . . that’s good enough for me.
My 2020 goal is to add another 8-12 great clients, so I’d welcome your help with introducing me to your friends and family that might benefit from my advice.
P.S. – As if the world wasn’t already crazy enough, apparently a banana duct-taped to a wall sold for $120,000 at an art show.