Many years ago, we developed these rules to help our new clients learn the behavior that gives them the best chance of success given the way we invest. Call it behavioral coaching, education on markets, or just plain old “rules to be our client”. We found that when we set expectations up front appropriately, clients better understood our approach and more importantly, why we were doing what we did. So this is the third in a series of short blog pieces on each rule
Possibly the oldest abusive sales tactic in financial services (among other industries) is the high-pressure pitch. “You have to act now! This opportunity is here today and might not come around again.” Or something to this effect. Sharing information not readily available to the public about an investment opportunity is against the law. Anyone offering you such information is either committing a crime or lying to you. Think about this. If a rational person had highly profitable information that was time sensitive, they would either act on it themselves rather than share it and watch the opportunity vanish or pitch a UHNW (ultra-high net worth) investor to maximize their own fee or commission.
Most importantly, one must understand the difference between an investor and a speculator. Both serve useful purposes in financial markets. But we service investors who read this blog. Whether or not you make an investment today, next month, or even next year is not relevant to a long-term diversified investment strategy. The high pressure pitch is the most obvious red flag there is. NEVER succumb to this sales pitch.
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