Whether it’s the amazing speed in which technology has advanced over recent years, or, in a competitive environment, the need for firms to market their consequently less unique process(es), we have seen what we view to be an industry-wide packaging of investment and financial services; a commoditization, if you will.
At Private Wealth Advisors — while we do employ state of the art technology that allows us to study and assess economies and asset classes the world over, and assists us in analyzing portfolios, objectives and strategies — each and every client is a study in and of themselves. They bring to our table their needs, concerns, ambitions and fears, and they leverage our experience and expertise in what becomes a long-term commitment to addressing, accounting for, and helping achieve their financial objectives.
Frankly, it’s about emotion. Life’s decisions, be they financial or otherwise, are rooted in emotion. We measure our success, not in numbers, but to the extent we succeed in making our clients’ lives better at the deepest personal level.
The above is not some catchy commercial meant to entice new clients to our firm. It simply states what — over the past three-plus decades (Marty and Nick’s tenure in the financial services industry) of catering to the financial needs of individuals, families and their institutions — we’ve come to know to be our purpose:
If our clients live their lives in comfort, if they go about their days without a financial worry, without reacting to or fretting over the inherent volatility of financial markets — if our commitment to them instills, or enhances, that sense of wellbeing — we are indeed successful as a firm.
In that we devote little time or resources to marketing, in a traditional sense (as some might view our blog and possibly this website – available to anyone in the world with an internet connection – as marketing endeavors), virtually all of our new clients come to us via referrals from others who are familiar with our work. And while we still entertain opportunities when presented, we will only take on a new client when we believe it’s an exceptionally good fit – as our commitment, first and foremost, is to our existing clientele.
Being thoughtful with regard to the commitments we make ensures that we remain undistracted as we manage our clients’ portfolios into what is forever an uncertain future.
Bottom line: We passionately enjoy working with a select group of people with whom we have lasting relationships. It’s our opinion as to whether a potential new client is one with whom we can enjoy a “lasting relationship” that ultimately determines if we’ll take on their portfolio.