Some of our clients have come to us because of dissatisfaction with another advisor. Most often, this disaffection results from a sense that the advisor has been taking their business for granted. As their confidence wanes, they begin to consider making a change. We continually hear from new clients in this situation that our welcoming culture and strong service ethic was evident to them from our first meeting together.
A successful business owner had entrusted his company’s large pension plan to a broker at a large firm. When he began to question the plan’s investments, he was underwhelmed by the broker’s explanations. The level of service and sense of urgency displayed by the broker, and his firm, fell far below the business owner’s expectations. Feeling a responsibility to his employees, he sought out alternatives and was recommended to us by a long-term client, for whom we have been advisors for decades.
We walked through our investment philosophy of achieving results while minimizing risk—an appropriate strategy for all clients, but especially for the pension assets of employees who are not themselves controlling their individual assets. We explained that diversification is not effectively achieved simply by holding a significant number of investments, rather it is best achieved by having the right types of investments, across the spectrum of investment options. The client was impressed with our commitment to service excellence, investment approach, and most importantly felt very comfortable that the team at FLI would share his concern for his employees’ retirement security. Within two years, he entrusted us with the management of his personal and family assets.