Just to get it out straight away: I'm not loaded. I'm well off compared to the majority of people on the planet, but here in Switzerland I'm in the lower half. I don't mind too much though (Work-life-balance etc).
But one thing I've come to realise: People with money, owners of a company with good cash-flow are the people that should advise you when it comes to investing. Recently I was speaking to a guy, owns his own advisory company, has 12 employees and is very well off. When he talks about investing, he doesn't say "you need to buy X, you need to buy Y". He asks everyone he meets their opinion on things his interested and then based on their rational will choose his side, i.e. if he likes it or not.
Another place I noticed you should listen to "sales people" is in swiss private banking. The owners, the guys whose relatives actually founded the bank, are very well off financially. There not interested in the "fast money". They want investments. Specifically the guys I'm thinking of, who work in senior advisor roles at private banks, own substantial wealth and advise with a view to making sure that in 25 years you as client will still be standing and still be paying them for there services.
Long-term dedication is one key. Giving advice that you follow yourself another.
Your thoughts?
No comments:
Post a Comment