Politics, Personality, Policy, and Your Portfolio!

I enjoy news, current events, politics, and of course, financial planning and investing.  In 2018, it seems all of these “worlds collide” on a daily basis.  President Trump is often loved or hated.  At times, the love or hate is about his personality, his policy, both or neither.

Is it possible to discuss with a friend current events, politics, government policy or even your investment portfolio without the conversation leading to feelings about President Trump?

All roads seem to lead to Trump.  In the Seinfeld television series, George became disturbed when worlds collided!  Here’s the 54 second YouTube link if you want a quick laugh: www.youtube.com/watch?v=uPG3YMcSvzo

I actively follow current events, policy and politics because it’s interesting, and this awareness is critical to serving my client’s portfolios well.  I’ve been in the financial industry over 28 years and have never seen the public more emotionally triggered by a politician ever.  The emotional reaction to President Trump has significant justification to be sure!  Passionate belief, free speech, and public engagement on the issues of our time, is fueled by healthy emotions and is one of many aspects of American culture that makes us great before, now and again!

However, when we get acquainted with a prospective client or make recommendations to an existing client, the political and personality “noise” has no place in our work.  Policy may be debated in the public square, but we must do our best to advise a client on how policies in place now may affect their portfolio and planning.  Taxes go up and down.  Interest rates go up and down.  Government regulations often take from one industry while giving to another industry.  The planning and investing landscape is never stagnant, which keeps us on our toes!

I’ve always had clients who refuse to invest in certain areas for emotional reasons or based on their personal value system.  I‘ll never forget whose money it is!  If you don’t want to invest in something, for whatever reason, then I won’t spend any energy trying to convince you to do what you don’t want to do.

I also don’t go along to get along, if I believe the client is misinformed and could benefit from being informed.  As a Fiduciary, it is essential my recommendations be in your best financial interests irrespective of who’s President or what happened on the news yesterday.  Independent objective advice specific to each client’s values and objectives is our “true north.”

We work with nice people and don’t work with mean people.  It’s not much more complicated than that.  We prefer nice people with lots of money, but we don’t accept mean people, with lots of money, as clients.  We will work with Republicans, Democrats, Men, Women, LGBTQ, all ethnic groups, all faiths, and every other group you can think of!  Candidly, I love the variety!  The deal breaker for us at Poterack Capital Advisory is if you are mean.

So live your life with passion, enthusiasm and be nice!  Trump or no Trump, we will handle everything else for you financially.