How To Get Rich Using Your Financial Adviser | Norman J Brodeur

What does your advisor do for you? Too few clients know. Some 65 million Americans have financial advisors, but they don’t understand how to get the most out of him or her. If you want to get rich, that’s the only way to fly.
Intimidated by the advisor’s superior financial knowledge and afraid of sounding stupid, they focus on his personality or looks. Such superficial takes don’t give you anything of value.
A recent TV mini-series about Bernard Madoff, the biggest swindler of all time, shows an extreme example of this. Played by Richard Dreyfuss, Madoff came across as a very affable advisor who knew how to manipulate his clients. Some of them even had financial savvy, but they never looked beneath the surface of Madoff’s charm.
Knowing your advisor, though, is about far more than avoiding a Ponzi scheme like Madoff’s. A huge majority of advisors are honest. Still, as Ronald Reagan said, trust but verify. One way to find out is to consult regulators like the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC) to see if an advisor has infractions.
What’s more important is that you should know your advisor and what he or she does, so you can get the most out of them. Or if you are kept in the dark, find someone better for you. And above all, you must insist that whatever the advisor tells you is understandable. The rationale for the advice shouldn’t be an inscrutable puzzle.
The Certified Financial Planner Board of Standards aired a funny yet trenchant TV ad that showed how easily clients can be buffaloed. In it, people listened to a confident guy in a suit who threw around financial phrases like confetti. All the people said they trusted the man to run their portfolios. Then the advisor confessed he really was a disc jockey who knew nothing about finance.
A lot of clients shed their advisors after the 2008 financial crisis, when the market lost almost half its value. But that was unwise. Everyone lost money then. The ideal is to see how an advisor fares over several years. One bad year, especially one like 2008, tells you nothing.
If you want to meet your financial goals and achieve a secure retirement, you must look at the long term.It requires smart investments in mutual funds, stocks and real estate, among other things. To get where you want involves forming a partnership with your advisor; you shouldn’t abdicate your role in the process to him or her.

3 Best Points For Handling Negative Comments On Social Media | Norman J. Brodeur

Online networking has on a very basic level changed how clients communicate with organizations. It’s made it simple for clients to find out about your business and get quick responses to addresses about your items or administrations. Notwithstanding, it has additionally turned into a gathering for purchasers to voice their grumblings when they have a negative involvement with your administration and your organization. As indicated by a MediaPost review, 45% of online networking clients studied said they share input in regards to terrible encounters with organizations on Facebook, Twitter, and other well known social stages.

To think you will have the capacity to keep everybody upbeat at all times is unreasonable. At times negative remarks will definitely discover their direction onto your business online networking pages. How you handle this negative criticism will figure out if you lose griping clients or fortify your association with them. It will likewise shape the experience of future clients who see your online vicinity. The accompanying three tips will offer you some assistance with handling negative remarks on online networking and transform them into a positive for you.


Create a Process:

As a piece of your business profile, you ought to make a procedure for taking care of negative remarks. Report your procedure and make it a player in the strategies gave to whoever moderates your online networking records. This procedure will be an essential piece of perceiving who the issue ought to be coordinated to. Whether the negative remark is identified with specialized issues, poor client bolster, or a division mistake, it can be tended to quicker when it is gone along immediately. Your vital target ought to dependably be tending to the issue that brought on the negative remark as opposed to the remark itself.

Respond Quickly:

According to Convince and Convert, 42 percent of shoppers whining on online networking expect an hour long reaction time. Due to the close moment reaction expected on online networking, shoppers are frequently more inspired with a brief reaction than an answer for their issue. Also, in light of the fact that word ventures rapidly on online networking, a brisk reaction will save your organization’s notoriety when negative input emerges.

Social Fish clarifies, “When individuals contact you on online networking and get fulfilling and quick reactions, their sentiments of association with your organization are elevated, and they’re significantly more prone to make buys from you and even prescribe you to their companions.”

To formulate a quick response, develop a library of approved language and create a general response template for negative feedback. The template should include:

  • A personal introduction of yourself or the person responding.
  • A reference from the respondent’s comment that acknowledges their specific problem.
  • Links to any resource(s) that may help solve their problem.
  • Assurance that the problem will be resolved as quickly as possible.

Respond publicly to the comment in question, but be sure to respond to the person via private message as well so you can resolve their problem.

Respond with Understanding:

Individuals regularly grumble in light of the fact that they need to be recognized. It’s not just an individual assault on you or your business. They are people who simply need you to comprehend them. When you send an individual message to the individual who has justify a negative remark, embrace a tone of tolerance and comprehension. Keep in mind that at last, a great many people rush to excuse on the off chance that they are dealt with well. In a world in which individuals are interfacing with brands online an ever increasing amount, they are truly hunting down ones that have a human, individual side to them. The brand that offers this level of online client administration will frequently acquire appreciation and reliability in spite of the negative experience a purchaser may have.

Negative remarks on online networking are inescapable. Try not to try to evade them. Rather, remember them as chances to transform an antagonistic condition into something positive. On the off chance that you utilize these three stages to connect with your gathering of people, your customer connections will unavoidably become more grounded.

By : Norman J. Brodeur 

10 best quotes from financial | Norman J. Brodeur

Two years back this saving money web journal offered budgetary insiders “openness consequently for obscurity”. The reaction was overpowering, and now that the site arrives at an end, I need to express monstrous appreciation for each one of those several managing an account staff and money related laborers, and in addition to the insiders who enhanced the remark strings.


1. Most enlightening

A human resources officer explains what’s hanging over people working in high finance:

“When the call comes, people know right away. We may use the most innocent tone of voice when we say: ‘Hi, could you pop up to the 20th floor for a moment?’ They know better: you never get an unexpected call from that person, except … It is amazing how fast news of a round of redundancies spreads. It’s like this tidal wave of panic washes across a trading floor … After our conversation, which typically lasts five minutes, they will be led out of the building by security.”

2. Proudest

If you want to know how it feels from the other side, read this banker in treasury sales before his redundancy at a major bank:

“Insiders on your blog who are so negative about the sector … it’s not very kind to say, but they just didn’t make it. They get kicked out and then they go complain to the media. It’s tough to take, obviously. You had to go while your colleague is still at his desk. Because he was better.”

3. Humblest

And after his redundancy:

“Looking back I may have fallen victim to the self-serving idea that we control our fate; as long as you’re good nothing bad can happen to you, and since nothing bad has happened to me, it must mean I am good and therefore safe; that sort of thing. In the same way military men tell themselves that they can’t die because they don’t make mistakes. But the best soldier can drive over a land mine.”

4. All-time favourite comment thread

In which a banking equity analyst debates with readers whether he deserved his one million pound bonus:

“Do I deserve to be me, rather than some guy in Darfur trying not to starve to death or get murdered. I get paid a lot because I can do things, but if I had been born mentally handicapped I wouldn’t. That’s life. I do ask to be paid well when I’ve done good work, but that doesn’t mean I feel entitled to anything.”

5. Wisest

A structurer had worked for one of the most prestigious banks for a decade, building such cleverly complex financial products that his clients failed to understand that they didn’t understand them. Looking back, he says:

“It’s strange. Bankers are so smart, yet they get this thing wrong. They spend their lives in an office when the only truly valuable thing in life is time. It is the only thing that is not replenishable. You can always make more money, but you can never get more time. Maybe it’s because death is such a taboo in our society; that people live in this illusion that their life will go on forever.”

6. Most terrifying

So many interviewees on this blog have said that their banks seem too big and complex to even manage, such as this regulator:

“We rely upon self-declaration, upon what is presented to us by a bank’s internal management. But often they don’t know what’s going on, because banks today are so vast and hugely complex. I don’t think I have ever been deliberately lied to – though obviously I might not know about it. The real threat is not a bank’s management hiding things from us: it’s the management not knowing themselves what the risks are, either because nobody realises it or because some people are keeping it from their bosses.”

7. Most succinct summary of the draw of it all

Investment banks are strictly hierarchical beasts. Managing directors are high up in the tree, expecting to make at least a million in a good year. This former MDsummarises what kept him in banking for so long:

“Investment banking is a trap, a game and an addiction. The reward is big, but uncertain, which makes it exciting and keeps you coming back for more. Once the money starts flowing it’s very, very hard to take yourself away from it. Doing a deal is like scoring a goal, or maybe for journalists, getting a scoop. The game element is in the rivalry with other teams, winning the mandate, legging over the competition … Also the emptiness that comes with addiction.”

8. Easiest target

For a bit of context, the blog has also interviewed a number of bankers’ partners, family members and exes. Howls of outrage reverberated across cyberspace whena banker’s wife said this:

“You want me to estimate a starting teacher’s salary? I don’t know. Let me think, £45,000? Wow, it’s really only £22,000? I had no idea. That really is too low, I could not live on that. Well, obviously this is something that has to change. I mean, these teachers have had to invest in their own education and are now educating the next generation, right? I am rather shocked by this, are you sure?”

9. Most shocking

Investment bankers have happily absorbed the “Masters of the Universe” epithet. But this interview with a banker in charge of an algorithm gone haywire, demonstrates that they may not even be masters of their own bank:

“Those were scary days. You think: we are in a new paradigm. Nothing works any more the way it used to. My department’s potential losses were hundreds of millions of pounds and several billions across the whole of the bank. We began to realise: this could sink the bank. In fact, we were bankrupt three or four times; our bank owed more than it owned. We were lucky to have a parent company with very deep pockets. I was struggling to keep it afloat. If the market had crashed further we would have gone down … This was a bomb and I was basically the only one who could defuse it.”

10. Favourite anthropological insight

This financial lawyer has a wonderfully sharp eye for dress codes. We met in a restaurant and I asked him to describe what he saw:

“I’d say, mostly lawyers. There are several big law firms around here, and lawyers need to have lunch. I see no trophy wives or trophy girlfriends, no extravagantly dressed women. I see men who keep their jackets on, which is what we tend to do as lawyers – many would not want to be the first to take it off and most lawyers I know leave it on anyhow, keeping the uniform intact makes you look solid. I see inconspicuous ties, also a lawyer thing. This restaurant serves very good quality food but it is not flashy, I believe only this week the Sunday Times called the interior ‘boring’. Boring is good, for lawyers. We sell reliability, solidity and caution. We want our presentation to mirror that. And we often charge hefty fees, so we don’t flash our wealth because then clients are going to think: wait, am I not paying too much?”

By : Norman J. Brodeur