Mike Brown was featured in the December 14, 2016 Financial Advisor IQ’s “Advisor-Client Connections Frustrated by ‘Divided Selves'”. Mike describes the importance of helping our clients understand our philosophy. An excerpt is below:
As a partner and portfolio manager at Dowling and Yahnke, a San Diego RIA with $3.3 billion under management, he says he’s committed to helping clients understand market dynamics in the name of rational and undivided decision making.
“So many people think they hire an FA and don’t need to know what’s going on,” says Brown, who’s quick to add that’s not a stance he encourages. “We want people to understand the strategy and philosophy of what we’re doing and really understand what’s going on,” he says.
The best gauge of this program’s success is in the questions clients ask. “When the market is down and they ask if we’re going to buy, you can tell they understand what we’re trying to do,” says Brown.
On the other hand, “where you get a lot of the wrong questions, either more learning is required, or it’s just a bad fit,” he adds. “We’re in the business of educating, not selling.”