Tag: transparency

The Power of Simple Solutions

Posted by Jon Robinson on 4/23/18 2:47 PM

 

One hundred million users in the US, a market size of almost $70 billion, and growth rates ranging from 4.8% to almost 10% - these sound like the descriptive statistics of a thriving and successful industry[i].  Perhaps, but consider that the underlying problem this industry is trying to solve is getting worse, not better.  I’m talking about the weight loss and diet industry.

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Topics: Advisor Practice Management, Transparency

Continuous Improvement

Posted by Tommy Mayes on 3/26/18 3:24 PM

 

I have the benefit of an insider’s view of many different businesses associated with my family office and private equity work.  I sit on a few boards, spend significant time coaching and strategizing with executives, and actually have a few direct private investments myself where I am actively involved in business strategy and development.

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Topics: Advisor Practice Management, Transparency

Radical Transparency

Posted by Tommy Mayes on 8/11/17 4:32 PM

 

For the last several weeks I have been pondering the notion of radical transparency – personally, professionally, spiritually, etc.  Much is written about the notion of authenticity in terms of living a life that, in all respects, reflects who you are.  Yet we often live in different modes of life where the ‘authentic’ version of us is nuanced for the situation.  Transparency, on the other hand, might imply that no matter the place or time, we are sharing our true selves, the details of our lives, and allowing the trust and engagement to build with everyone around us.  Add the word radical as an adjective, and you imply that you want your level of transparency to be so thorough that it is transformative in all aspects of your life.

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Topics: Advisor Practice Management, Transparency

Growing Up to be a Fiduciary

Posted by Tommy Mayes on 6/17/17 11:50 AM

 

After more than 25 years in the financial advice world it appears to me our industry is finally growing into adulthood.  For the first time, all financial advisors must now conduct business in a manner appropriate to the incredible responsibility allowed us by our clients.  Simply put, the industry will require itself (thanks for the nudge Uncle Sam!) to put a client’s interests first in the recommendation and implementation of financial strategies and plans.  Seems pretty straightforward right?  Apparently only if this level of diligence DOES NOT get in the way of the advisor making his Mercedes lease payment (name your indulgence here).  I have been asked many times by friends and clients – ‘hasn’t this always been a rule?’  Well no, but it should have been.

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Topics: Advisor Practice Management, Transparency

Robo: Existential Threat or Necessary Evolution?

Posted by Tommy Mayes on 5/23/17 7:15 PM

 

In 1998, during the peak of the dot com boom and only a few short years after Al Gore invented the internet, I was an executive in the private bank of a large financial institution in the Southeast.  We were staring at the opportunity to begin to utilize technology as part of our client service delivery, and at the same time intimidated by the change that would lie ahead.  I led a team that created one of the first integrated wealth management strategies in the industry, and our business model has been replicated many times over in the last 20 years or so.

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Topics: Advisor Practice Management, Transparency, Systematic Investing

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