My session with author Nick Murray today

I spent a good part of my morning listening to a presentation by author Nick Murray.  I don't expect you would recognize the name as he is really considered an advisor to advisors.  His whole message in a nutshell is that no one can predict what the markets are going to do and when.  The only thing we really know is that over long periods of time (30 years), we need to be owners of companies that make this country great (stock owners).  Any attempt to prognosticate, predict or in any way try to think we can be smart enough to know what is going to happen next--is a complete waste of time, an effort in futility.

I agree wholeheartedly.  So what am I to do?  How am I to function in a world where most people I know including other advisors think that my job IS to predict, IS to know what is going to happen next, IS to pick the next hot sector or stock.  I asked Mr. Murray this question (at which time he became very impatient with me and the length of my question..he is a cranky guy).  He said I should tell the truth to as many people who will hear it.  This is what I try to do every time I post on this blog.

So what can you expect from me as your financial advisor--or for that matter, from any financial advisor? Here is my definiton (I am going to send it to Webster): a financial advisor's job is to advise you how to reallocate your resources in a way that will allow you to meet all of your goals.  Let's make it simpler; I am going to tell you if you are saving enough, I'm going to make sure your investments are properly diversified, I am going to be a source of information for all things financial.  But most of all, I am going to make sure you won't be seduced by the latest investment fad or be seduced by fear. I will help you solve problems and  I will help you make sensible, realistic decisions.

So don't be confused when I post about market returns.  This is just for information purposes--to show you that markets go up and markets go down and that there are very different segments of "the market".  But all that I do cannot be contained in market returns--it is really about everything other aspect of your financial life.

Nick Murray does have one book that is perfect for non advisors.  It is called Simple Wealth, Inevitable Wealth which can be purchased at his website :     http://www.nickmurray.com/books.html

Thanks for reading.