"Comfort and confidence are among
the highest returns an investor can get!" By Paul Hack
The most important lesson I've
learned in over 30 years of serving
clients as a Financial Advisor is that
the only really satisfied clients are
those who are comfortable with and
have confidence in their investments.
That lesson didn't come quickly or
easily. When I began to recognize it,
I spent a lot of time working to
understand what it is that gives a
client comfort with and confidence in
his or her investments.
PAUL HACK
investment consulting
of Raymond James & Associates
I've come to
recognize that
the clients who
have this corn-
fort and confi-
dence have at
least four things
in common.
First, they have an asset allocation
strategy that provides the kind of risk
and diversification of investment they
are comfortable with.
Second, they believe they have the
very best experts in the world
choosing — and monitoring — their
specific investments.
Third, they have easy access to their
Financial Advisor who works hard to
provide the service they need, when
they need it.
And fourth, they have confidence
that their Financial Advisor's interests
and their own are Consistent, so they
can have a high level of trust in that
advisor.
31550 Northwestern Highway, Suite 250
Farmington Hills, MI 48334
www.hackinfo@35n.rjf.com
Once I recognized this, I began to
change the way I worked with clients.
I started insisting that every
relationship begin with a thoughtful
analysis of the client's needs: stage of
life, immediate and future financial
needs, assets available for investment
now and •in the future, emotional
feelings about risk and the kinds of
investments the client is comfortable
with. These are critical in putting
together an asset allocation strategy
designed to give that client greater
comfort and confidence in his or her
consistently successful "stock pickers"
who manage • money for investors
within each allocation strategy, and
place our client's money with these
managers. There are over 14,000
money managers around who can
handle individual investor accounts.
So, finding the very best is plenty
challenging. But it's doable.
Working together with the client,
we "allocate" the client's assets among
a select group of managers in a way
that's designed to carry out the client's
allocation strategy.
investments.
The process is something we start
and finish together with the client.
And, at Paul Hack Investment
Consulting of Raymond James &
Associates, we do a lot of hard work to
make sure the allocation we
recommend meets the client's needs.
One thing this meant is that I would
never again have to call a potential
client to try to get him to open an
account with me and invest in
someone's latest "hot stock." It also
meant that one by one I would have to
talk with each of my existing clients
and get them to go through this
process with me. Believe me, not an
easy thing to do.
our client becomes
Once
comfortable with an asset allocation
strategy, we have to implement it in
the best possible way. Picking stocks
— whatever strategy they represent:
growth or value, large-cap or small-
cap, U.S. or international — is really
hard to do on a consistent basis. But
that is often what provides a client
with the comfort and confidence that
the people selecting his investments
are particularly good at what they do.
So, we search for the most
Now we are compensated for this
work, but always from a fee that's
based on a small percentage of the
client's invested assets. And as those
assets grow (which is what the client
wants), so does our fee income. So,
our interests and the client's interests
are exactly the same.
Then, frankly, our priority is to
make sure we are always available
to answer the client's questions,
help the client move money or
provide whatever service is
appropriate.
The most rewarding thing about
working with clients the way we do is
not just that our clients feel so
successful, or that we keep getting
new clients ... both of which are very
nice!
The rewards come from knowing that
we've really found a way to help our
clients gain comfort and confidence
about their investments.
If you'd like know more, give us a call
at 248-932-2902. We'll be glad to
show you how it works. Or, ask us to
send you a copy of our brochure that
explains what we do in more detail.
RAYMOND JAMES.
Sr. ABSOCIA I Cam, TIC.
8/30
Member Now York Stock Exchange/SIPC
You first.
2002
644600
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