Experience and Credentials Matter
Whether you are selecting an MRO to maintain your aircraft or upgrade your GPS, , you want a partner with the experience, training, and credentials to ensure you arrive safely at your destination. It is vital to have someone on the ground who can leverage their expertise to ensure your safe journey, because even a cloudless day may have pockets of unexpected turbulence.
An experienced ﬁnancial advisor has the same advantages, drawing on decades of experience working with hundreds of families to develop ﬁnancial plans and construct portfolios for all environments—inﬂationary, high growth, recessions and changing tax regimes. Just as a seasoned pilot knows how to skillfully maneuver an aircraft, an experienced ﬁnancial advisor knows how to construct a portfolio that ﬁts the needs and goals of each client’s unique situation—whether through investing in durable high-quality stocks and bonds, adding alternative investments or choosing the appropriate asset allocation for the client.
Discounts Are Not Always a Bargain
There is often a temptation to choose the lower cost operator without evaluating the value proposition. A discount operator may oﬀer a lower sticker price, but the equipment may not come with warranties, and you may end up paying signiﬁcantly more in the long run.
In the world of ﬁnancial advisors, the same is true. Some oﬀer low upfront fees but have expensive charges on their products (e.g., mutual funds) and ancillary services. Additionally, they do not have the low client-to-advisor ratio, access to top-tier investments or client customization that high-end clients deserve. Selecting a premium ﬁnancial partner with a transparent fee structure results in a ﬁrst-class experience with fewer frustrations down the runway.
Although pilots attempt to circumvent turbulence, sometimes it is unavoidable. Fortunately, those bumps are nothing to worry about, especially if you and your passengers stay safely buckled in your seats. You have the confidence of knowing that aircraft are designed to withstand gusts that most people will never experience in their traveling lives.
Similarly, ﬁnancial advisors attempt to avoid market volatility, but they always expect it. Since 1985, the S&P 500 has experienced a 14Ypercent sell-oﬀ on average each year. A good ﬁnancial advisor prepares the client and the portfolio for this volatility. When it happens, they hop on the “intercom” to reassure clients, so they do not sell at the worst time, turning a temporary loss into a permanent one. A great ﬁnancial advisor capitalizes on volatility to opportunistically deploy capital, tax-loss harvest and leverage estate planning techniques.
We have been through a lot these past few years and deserve to get away. Why risk not having your aircraft in tip-top condition when you and your family are ready to take off. Choose the premium option and you will have the conﬁdence that your aircraft is ready not only to get you through inclement weather, but will ensure that you and your loved ones arrive safely at your desired ﬁnancial destination.