Source of credibility?
In response to the thread in the rookie section about the value of an Ivy education, I asked a few money managers I know who were in today for any event to rank the aspects that lead to their level of credibility. The general opinion was as follows:
1) Being referred. Instant credibility.
2) Good vocabulary.
3) Professional appearance.
4) Age, older being much better in this field.
5) Past performance.
6) Professional designation or education.
Everyone among the four agreed on the order more or less, although many stated differences between some aspects were negligable. (Or stated vocabulary and appearance should be one aspect such as "presentation.") Two CFPs, one CFA in progress, all college grads, one masters. (Btw, I'm fairly young but agree with number 4. Fortunately this can only get better.)
Here's some good news. #1 is more important than everything else combined.
It's interesting. I can have someone refer me to 10 people. All 10 of them will meet with me. Someone else can refer me to 10 people. None of them will meet with me. My point is that you need to get referred by people whom get respect.