Surprise, Surprise — Not

So after all this, who do you trust?

Between Ponzi schemers and conflicted bankers, where do you put your money? After all, you can’t just stuff it in a mattress. It’s not very comfortable, and if everyone did that, there’d be a lot more stolen beds.

There are basically three criteria: you want someone competent, you want someone who understands you, and you absolutely want someone honest. They’re all hard to nail down. It really comes down to trust. Can you trust their skill, loyalty, and morals? To find out, you need to do some homework.

First, do they use outside experts: accountants, lawyers, and systems? Other professionals bring a critical eye. Second, could your advisor restate your financial goals back to you in words you understand? If not, they probably don’t understand you. Finally, could your advisor point to times when he or she has walked away from business for ethical reasons? If so, when? If not, why not?

There’s a theme here: advisors need to know their clients, and clients needs to know their advisors. Smaller institutions that still have a stable business mix offer a client focus that others can only wish for. Like Tom Thumb said, bigger isn’t better. The dodo and dinosaur are dead. Long live the ant!

Douglas R. Tengdin, CFA
Chief Investment Officer
Hit reply if you have any questions—I read them all!

Follow me on Twitter @GlobalMarketUpd

direct: 603-252-6509
reception: 603-224-1350 • •
By | 2017-07-17T12:35:20+00:00 March 30th, 2010|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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