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For Financial Advisor Ads, a New Frontier

How do we feel about Financial Advisors advertising investment performance?  Dave explains it perfectly in a recent Barron’s article (while adding some color, of course, as he always does).

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.

Dave’s take:

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.

Read the full article on Barron’s >

David B. photo

David B. Armstrong, CFA

President & Co-Founder

Dave got into the industry when he discovered his passion for finance in his mid-20’s. He’s a combat veteran and served as an officer in the United States Marines Corps on both active duty and in the reserves, retiring at the rank of Lieutenant Colonel. While serving on active duty, Dave was unable to spend money on deployments, so he became a self-taught investor. Along with a few bucks cash as a bouncer, his investing performance grew to be good....

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Please remember that past performance is no guarantee of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Monument is engaged, or continues to be engaged, to provide investment advisory services. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice.

A copy of Monument’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.monumentwealthmanagement.com/disclosures. Please Note: Monument does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Monument’s website or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results.  It should not be assumed that your Monument account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your Monument accounts; and, (3) a description of each comparative benchmark/index is available upon request.

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