“That’s the whole challenge we face – do we spend all our money on today or do we invest some of it for tomorrow? You have a fundamental choice to make, do you want to be loved or do you want to be effective? If you want to be loved, you’re probably not going to be bold.”
– Tom Murphy, former mayor of Pittsburgh
Given the choice between being bold and being loved I sense most of us, though not all, choose the latter. Think about how comfortable you are in your present state. Another Monday, business as usual, stay the course, keep our clients happy and everyone’s happy. But treacherous and slippery is this path. It is good only for the present.
I mentioned many times how our industry is changing and the need for all advisors/brokers to prepare for something very different. Many firms need to embrace technology as the way to better operational efficiency. Many advisors need new clients to replace the ones who will be lost because of attrition, competitive forces, or a failure to produce results for the client. Many advisors have gotten rigid in their thinking and lethargic in their effort. Remaining relevant becomes more difficult. Boldness will require a well thought out plan that can be executed with discipline as the master. All are capable. Some will heed the call to adapt, while others will fail to remain viable.
As Lou Holtz once said:
“If what you did yesterday seems big, you haven’t done anything today.”
Speaking of being bold – The returns garnered by the Salt Creek portfolios over the past year are worth mentioning. Comparing the monthly returns (net of fees) on our most aggressive model against that of the S&P 500 (as reported by Ycharts.com, whose source is Standard and Poor’s) shows our asset allocation model outperforming the index in 8 out of the last 12 months as reported monthly. Our Achilles heel was the fourth quarter of ’16. We missed the Trump trade but recovered nicely in Q1 of ’17. Our goal at SCI is to deliver to you and your clients a quality product, underpinned by discipline, based on some of the very best portfolio thinking of our time. We strive to remain current by bringing our technology and marketing efforts to the level of professionalism expected by you.
Thank you to the SCI team here at LaSalle St. Investment Advisors, LLC and our partner Sortino Investment Analytics for their good efforts. We always welcome your comments and remain committed to our efforts on your behalf.
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