What is the most unusual way you obtained a new client?
My massage therapist, who has since become the massage therapist for others on the team, became our client.
What's the strangest thing a client's ever asked you to do?
A client once asked me to buy him shares of a new company outside of Las Vegas named Mustang Ranch. It's a “house of ill repute.” He suggested that he would want to go to Las Vegas and check out the “stock” if he owned the company. He thought his trip would even be tax-deductible! The IPO was canceled and the company didn't go public.
If you could repeal one SEC or NASD rule, what would it be?
The one that prevents advisors from serving as fiduciaries in client estates and testamentary trusts. I don't mind if they don't allow us to be compensated in that capacity, but we are constantly asked for this service by our longstanding clients.
The one thing every FA should know before meeting a new client?
I actually think it can be detrimental to have preconceived notions before meeting with a new client.
What is your investing style?
Asset allocation, diversification, professional money management — all of which are defined by a focus on the clients' goals.
If you weren't an advisor, what would you be doing?
A business teacher or a psychologist — both of which have strengths that would be useful to financial advisors.
Any celebrity you'd really like to have as a client? Why?
Oprah Winfrey — not because of her amassed wealth, but because she is self-made and appreciates the value added by professionals in other fields.
Favorite charity you've been involved in?
Charities devoted to the arts. I've worked with the Williamsport Symphony, and they have fantastic people working there and a phenomenal conductor.
Describe your ideal client in three words.
Kind, grateful, happy.
Popular investing trend you try to steer clients clear of?
There are always clients who want to buy whatever stock they just heard about on the financial news, and “hot stocks” are usually cooling by the time the average investor knows about them.