Listen Carefully
What the Radio ‘Experts’ Want You to Hear About Your Financial Plan
SUDOKU
This fall, our family was in the car for a three-hour road trip. Along the way, we heard five different financial “experts” on various radio stations along the way. Each one had different advice about how you should handle your personal finances for investments and retirement. Many of the talking points were directly contrary based upon what they were trying to sell. As an industry insider, I’m completely aware these “radio shows” are paid promo spots, so they can push their financial product. I also realized that if I didn’t have the expertise that I do as an investment advisor, I would have been very confused. This is an interesting phenomenon. I don’t want to completely discredit these talk show hosts. They are clearly educated and can offer thoughtful perspectives. However, their sound bites and catchphrases can be detrimental when they evoke a financial decision that is also emotional. Radio and TV “experts” don’t have a personal relationship with the people they are dispensing advice to. It’s easy to say what the masses should do and how things should work, but it’s not feasible for everyone to take that advice to heart and aptly apply it to their lives.
The relationship I build with you allows us to discern which steps are best
for you. Because I get to know you, your goals, your family, and your wishes, we can make decisions
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based upon your personal objectives. These decisions should be carefully calculated and based upon your complete financial picture which includes a tax strategy, insurance, investment allocations (based upon risk tolerance), your estate plan, and so much more.
Furthermore, we have to understand that radio and television gurus are also salespeople. They want us to buy something, whether that’s a book outlining their steps to financial freedom, or on a local level, setting a “free” appointment as a precursor to peddling their financial product. Many are very adept at creating insecurity as a tool to lure you in. So, should you heed their advice?
We’ll all occasionally have questions or concerns about our finances, especially during a market drop or a transition period in our lives. These are the times to rely on the relationship you’ve established with me. I have your portfolio history, goals, and comfort level in mind. You don’t need to panic-buy something. We can work together to develop or update a plan that helps you navigate personal and market changes. Frankly, that’s more peace of mind than any radio personality could ever offer. So, next time you hear an “expert” sound off on the radio, it may be best to just change the channel.
—Krista McBeath
309.808.2224 3
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