Wealth Advisor Magazine September 2024 Edition - 34

THE BIG IDEA
Shut Up Already
When the noise gets overwhelming, a little silence helps everyone
cut through the chatter and get yourself (and your clients) focused
on the truly important signals.
S
uddenly, everybody's a
market commentator, and
while we welcome an open
exchange of ideas, most
of the commentary is light
on ideas and heavy on repetitive but
SEO-friendly sensationalism. After
you've watched a few TV segments or
clicked a few links, you're not learning
anything new.
That's a problem when your duty
of due diligence requires you to keep
reading and reading to make sure
you don't miss a beat. Once
upon a time, Wall Street
understood this. There
were too many
analysts working
hard to flood the
channel.
Most of it
was " service "
research: just
the facts, company
XYZ reported
today, and here's our
hot take. Few of the
takes were all that hot.
Nobody had time to read them
all. Most of those analysts went away.
Here's our hot take: once you get
the facts from the source, everything
else is opinion. Interpretation. Analysis.
Spin. For that, follow the people
who have demonstrated that they're
more insightful than a chatbot.
Any outlet or commentator that
says something palpably inane will
need to work extra hard to convince
you that they're worth any more attention.
Sure, a broken clock ( " Dollar Collapse
Imminent, Says Doctor Doom " )
will ultimately be right twice a day, but
wouldn't you rather look to something
a little more accurate?
34 | SEPT/OCT 2024
Maybe you've already tuned out
this " disservice " content and have the
attention span to string two thoughts
together. In that scenario, you should
be thinking about the commentary you
are pushing out to clients, prospects
and industry peers.
We're all writers as well as readers
in this economy, collecting insight,
digesting it and then redistributing
the good stuff. And trust us, wealth
management is choking on " service "
coverage: markets went up or down
percentage points, economy
hot or cold, stay the
course.
Nowadays, the
facts are available
instantly on demand.
They have
a shelf life of
zero. Your clients
aren't paying
you any more to
collect them from
obscure dedicated
terminals. They know
what happened. They
watch their account statements
more closely than you do.
So, cut that stuff out of your commentary.
Focus on the deeper picture:
what do you as the expert think is
really going on behind the scenes,
how would you compare the current
market environment to the past, based
on your research and experience?
They're paying you for insight.
If you're clueless, that's okay. You
provide a service by not contributing
to the noise, so leave a little room for
silence. When you have something
to say . . . a truly hot take . . . it will
resonate a lot better. And if you find a
great link, pass it on.
Publisher
Jerry Cooper
Editor-in-Chief
Scott Martin
Editorial Project Manager
Monica Boyer
Contributors
Jerry Cooper, Scott Martin
Art Director
Scott W. Valenzano
Social Media Manager
Kevin Cappy
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Wealth Advisor Magazine September 2024 Edition

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