“Off The Wall” Blog
Unique, straight-forward, unfiltered opinion on topics of concern for individuals with newfound wealth.
For Financial Advisor Ads, a New Frontier
By Brittany R. Dewberry | Jan 10, 2020 | Featured Articles
The Barron’s article states that not all Advisors agree on this new rule:
Advisors may have [sharp] disagreements about whether to advertise performance. The proposed rules allow firms to share past performance, net of fees and expenses, while taking certain steps such as including one-, five- and 10-year comparisons in ads targeted to retail audiences. Touting good numbers should go right to the brainstem of many consumers, giving an advantage to advisors who do so.
David Armstrong, president and co-founder at $291 million Monument Wealth Management, in Alexandria, Va., wants nothing to do with performance ads. “Personally I wouldn’t touch that with a 10-foot pole,” he says. “I don’t want to sell performance – I’m going to hang my hat on advice and planning.”
At Monument we don’t just focus on investment performance–we specialize in taking complex, 3-dimensional problems and creating solutions that are intelligent, thoughtful, and creatively conceived.
Advisors tend to differentiate themselves by claiming they have the best–the best firm, the best client service, the best investment performance–we say that’s all a bunch of bunk. We know what differentiates us in a sea of sameness, the single thing that no one else can offer or replicate, is our Team’s unique, straight forward, unfiltered OPINION…of which we have plenty, just ask. Not everyone agrees with our opinions, but we are not trying to resonate with everyone…we are just looking to resonate with someone. And hopefully, that’s you!
Along with addressing the new rule on advertising investment performance, the Barron’s article also discusses the new rules for Financial Advisors promoting client reviews and testimonials, which have not been permitted in the past, but we look forward to exploring further once the rule is passed later this year.
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