Mr./Mrs. Investor, How Would You Like That Cooked? Just Kidding

Mr./Mrs. Investor, How Would You Like That Cooked? Just Kidding

          by: Brendan Magee

Last week I was in Chicago with a lot of other business owners who were learning how to do a better job of marketing their businesses. As such, I ate my meals in a couple of restaurants. At lunch, I am with a fellow attendee and he orders a hamburger for lunch. The waitress kindly asked him how he would like the burger cooked. At dinner I ordered a steak and the waiter again asked how I wanted the steak cooked.

If you sit down with a financial planner or you invest on your own, you talk about or go over your goals, what you have experienced in the past and liked or didn't like. If you like what you hear from the adviser you perhaps give him or her some money to move your money into new investment products. If you don't like what you have heard you keep your money in your existing investments.

Never though is the investor asked how they would like their investments to be managed. They are never asked what approach they believe would be the best for them. Instead, the investment company takes the money and manages it as they see fit, never even bothering to ask the investor how they want their money to be manged, or even letting them know their is a choice available to them. So why would an investment company keep the investor completely in the dark about how their money is going to be managed?

 First one to respond wins a prize.

Brendan Magee is the founder and president of Inevitable Wealth Coaching. With a response to the question, e-mail brendan@coachgee.com. If you have a question or comment you can e-mail or call 610-446-4322