When it comes to your money, how well your investments do is often out of your direct control. But who you choose to manage your money and form a partnership with is. If you are considering working with an advisor or making a change, you’ll want to interview candidates carefully and ask the following ten questions.
When we act as a steward we actively direct affairs and take responsibility. As a steward of the land, a forester develops and executes tree management plans to ensure a healthy ecosystem. In financial situations, a steward cares for assets and works to ensure the future. Stewardship responsibility is often taken on as a moral duty. Acting as a financial steward will help you, your family and future generations work for better outcomes. Here are five characteristics a financial steward should embrace:
Last week, we shared words of wisdom from investment industry great George Jenrette. The final quote on Jenrette’s list was: “look for the big picture but don’t forget the small details.” When it comes to investing, we often find that people have a reasonable view of their own big picture – that is, where they are trying to get to over the long term. The details, however, are another matter. Following time-tested guidelines can help you sort through some of the details and improve your investment outcomes.
Over my 30+ years in the investment business, I have learned to respect many leaders and founders of the bond and fixed income industry. Good men and women who cared about the right things. Most of the veterans are retired or have passed away. Last week a founder of Donaldson Lufkin Jenrette, DLJ, George Jenrette passed away at 89 years old. I didn’t know him but I worked closely with his firm for many years. Mr. Jenrette left behind a list of life lessons. In this week's blog, it is my privilege to share them, unedited.