Wealth Clarity Tag

Highland pays close attention to impact investing, which is the practice of buying into companies and funds that aim to make positive social and environmental change. This investment strategy of "doing good to do well" is a huge priority for millennial investors and has gained traction in recent years among...

Does it seem to you that kids today are more self-absorbed and have less empathy? Many of my wealth management clients are concerned about raising altruistic children--kids with empathy--who are not only successful in school and extra curricular activities, but who want to make the world a better place. What kinds of...

Highland is pleased to announce a collaboration between our CEO John Christianson and acclaimed lifestyle author Kobi Yamada on Hello Someday, a new book to inspire and celebrate your retirement. Whether you are retiring or moving into a new phase after a significant wealth event, Hello Someday is a great resource for...

If you receive most of your compensation in the form of company stock, you have both a golden opportunity, and one that’s easy to squander. If managed thoughtfully and responsibly, however, concentrated, company stock can place you on a clear pathway to financial independence. Major Pitfalls to Avoid: Inertia – This is...

In my last post I talked about the young millionaires, many 35 and younger, and the hidden risks of not seeking financial advice; opting instead for a do-it-yourself approach.  To the credit of this budding wealth creator crowd, the financial services industry has been big, slow, and expensive to work with, and as the next generation of wealth creators, you are demanding something better. If this is you, then what are the telltale signs of financial advice that can add value to your life AND be worth paying for? Here’s your grading guide:
  1. Access to information about subjects you care about and that can be consumed easily and quickly.  This would mean electronic newsletters, blogs, videos that address areas of need and that are in short bit sized nuggets.  The ability to create thought leadership that is timely and interesting.
  2. Information that is focused on you.  Valuable opinions and information about subjects that can improve your life instead of how important and successful the advisor or investment company is.
  3. Interested in finding and interacting in the places you like to be, when you want to.  This would suggest communicating with you in ways you enjoy, whether that be through twitter, email, Skype, and questions and comments via blogs.
  4. Transparent communication.  Do you really understand what they do, who they are, and why it matters?  If value isn’t communicated effectively then I would argue it isn’t present.
  5. Value that can be experienced in every interaction.  A clear willingness to help you get where you need to go, and not only if you buy something or sign a contract. If this happens, and you see tangible progress towards your goals, the cost will become less and less relevant.

Managing your money and investments while living in the land of complexity can rob joy from your life.  Do you want a bigger house or a new shiny toy, or would you prefer the ability to really enjoy your money doing the things that bring you true happiness?  I think most wealth creators want the latter, but don’t know how to get there. I was meeting with a new prospect recently, and they were sharing their worries and fears with me as a part of our Ideal Outcomes Conversation™, where we are able to discover what pain points are keeping wealth creators from living the life they desire. In this particular case, money wasn’t the stressing issue per se; this couple had plenty of money and weren’t worried about their next meal or if they could pay for their kids’ college education.