When we started in this business the job was to find the best stocks, specifically, stocks that performed better than other people’s stock picks. That was the role of the stock broker: stock picking without an asset allocation. Change has taken place in many areas since then, including significant changes in our investment portfolios and philosophy. By our definition, the evolution of advice focuses on wealth management within the scope of modern and efficient planning, goal setting, and execution.
Just as there has been evolution in many areas of our society, there has been an enormous evolution in investment advice and portfolio management. We are moving towards a very different way of investing. We have to start looking at investing as a process and not as a transaction. Whether it's a stock or the entire asset class, it is a process and not just a “buy” or a “sell”. If we can think about investing as a process and switch our mindset to focus on financial planning and goal setting, we can start to avoid some of the pitfalls and risks and hopefully have a better investing experience.
When setting up your goals, always consider what is important to you that requires planning, money and time, focusing on what is best for you, your health and your wealth.
-Stay safe, stay happy, stay well!
The CM Group