What Other Financial Advisors WON’T TELL YOU About How They Choose Clients

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Welcome, watchdog on Wall Street, Markowski Investments, where we don’t have a bouncer or any velvet rope. Yeah, I’ve said this, I’m bringing this up, because oftentimes, I’ll say, no velvet rope at Markowski Investments. people are like, do you mean? I don’t understand that. oftentimes, we date ourselves.

Okay, I I do it. Here’s another example of me dating myself, okay? I’m coaching kids in La Crosse and I mean, I’m telling a kid, you’re doing it wrong, you’re dodging in a phone booth, meaning they’re just going side to side and they’re not actually beating anybody. You know, the kids, young kids like, you know, what is he talking about? Phone booth. They don’t, I think to myself, they don’t know what a phone booth is for crying out loud. But anyway, many of you might know what a velvet rope is. Quick story, right? Back when I was younger.

living in New York City, you’re early 1990s. A lot of the places, the popular places go out to the lounges back there in the day. You’d have the big bouncer out front with his list and a velvet rope and people would line up. And I like waiting those lines. You’d have to find a way or know somebody to get on the list and…

Maybe somebody knew somebody that worked at a modeling agency and the models, it just, was a process. Exhausting if you actually think about it. But again, if you weren’t on the list, you were waiting outside in the cold. And when I say there’s no velvet rope at Markowski Investments, most firms that do what we do, that provide the services that we provide, you know, much like a family office, soup to nuts.

everything. They’re not they’re not talking. They’re not talking to most people out there. They’re only dealing with the super wealthy. There was a study that was released not too long ago. And they do it on a regular basis. And it talks about the this group that they like to call the mass affluent. The average Main Street investor remains very pessimistic when it comes to their finances.

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And this mass affluent investor is someone that has a net worth between $100 ,000 to $1 million. And this is not including their primary residence. And these mass affluent, they don’t feel wealthy enough to go out and retain a decent, decent individual, decent group, family office to help them. It didn’t surprise me at all. It didn’t surprise me at all.

I recall this, don’t go to these things anymore. I used to go to some of these industry conferences, financial planning conferences, and there’d always be someone there. There’d always be some expert breakout session with this expert on practice management, how to manage your practice. How are you gonna be something like this? How to run an efficient and profitable financial planning practice would be the title of one of these tenuous seminars.

Again, you listen to these so -called experts every single time and they always are telling the advisors, know, you’re gonna make more money. You know, you gotta focus on your wealthiest clients and they talk about firing your smaller clients. Discard the little guys, they’re wasting your time. Only focus on the whales, fire those pikers. So again, that means the mass affluent out there.

Mass Aflap, they’re targeting you. You are a client to be fired. Your account is not worth your advisor’s time. You should have never got past the bouncer and the velvet rope to begin with. In fact, many firms actually encourage this. If an account size is too small for them, they put a threshold on it, then they’re only paying the advisor.

They’re paying the advisor less on the fees from that account. Again, encouraging the advisor to either not pay attention to that client or get rid of them in the first place. This to me is sick.

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It’s sickening ahead. It disgusts me. We despise this practice at Markowski Investments. We would never reject anyone based upon their net worth or their account size. The reason why the Massa Affluent are so ill -prepared is nobody’s helping

Nobody’s helping. Nobody that’s any good. And there’s some firms that, you know, again, they’re they’re out there advisory firms, but they’re much like, you know, fast food joints. You keep going there all the time. It’s not going to turn out well for you. OK, I’m going to remind everybody again, no velvet rope, no bouncer here. You know, we’re going to take your phone call. We’re going to help you out. And again, I don’t want to hear I feel bad. I’ve only got this.

Don’t feel bad. Don’t feel bad. I’ve said this before. It’s fun building wealth. It’s fun building wealth. The bigger clients maintaining wealth piece of cake. That’s not a difficult thing to do, quite frankly. Not a difficult thing to do. But we take great pride in building wealth, building wealth and like I said, repairing broken accounts. So again, that’s what we’re here for. Watchdog on wallstreet .com.