Wow, the markets are noisier than usual. Whether it’s the coronavirus, the price of oil, the Fed reducing rates, a political election, or M&A in the RIA market, the big question is how is it going to impact our financial lives?
My advice: if you are in the middle of a transaction as a seller or preparing for one, don’t get caught up in the numbers. Remember what it is you are looking to achieve for you, your clients, and your team's future. Would the market being at 18,000 or 30,000 make a difference in the solutions you have thoughtfully considered?
If you are the buyer, has your goal of participating in a transaction changed with the noise in the world today? Are you reacting emotionally or confidently because you know your goals precisely?
It is amazing how events can change our behavior, even when the change in behavior isn’t in our best interest. Fiduciaries are always talking about acting in the client's best interests; but if you turn the tables and pose the question to yourself, how well would you say you are you managing your behavior right now?
If you need advice or a thought partner as you assess your options, please contact me for a confidential conversation.
Wishing you well during these unprecedented times. Keep the faith. We can get through this together.