{"id":2595,"date":"2017-09-26T02:56:04","date_gmt":"2017-09-26T02:56:04","guid":{"rendered":"https:\/\/www.prosolution.com.au\/?p=2595"},"modified":"2018-03-08T17:17:13","modified_gmt":"2018-03-08T07:17:13","slug":"maybe-question-not","status":"publish","type":"post","link":"https:\/\/wealthcoach.com.au\/stage\/maybe-question-not\/","title":{"rendered":"Maybe it\u2019s a \u2018who\u2019 question, not what?"},"content":{"rendered":"

\"Maybe<\/a><\/p>\n

When faced with financial decisions or questions it is often an instinctive reaction to jump straight to trying to figure out what is the correct answer. However, I\u2019d like to suggest that a better approach is to ask yourself \u201cwho\u201d rather than \u201cwhat\u201d. That is, who is the best person that can help me answer this question.<\/p>\n

Who to ask<\/h3>\n

The saying goes that most people learn from their own mistakes; smart people learn of other people\u2019s mistakes and dumb people never learn! Learning from other people\u2019s mistakes is extraordinarily valuable. In this regard, there are two types of people that you can seek out:<\/p>\n

    \n
  1. Those that have been personally faced with the same problem or question that you are facing \u2013 and it is even better if they have faced the problem more than once; or<\/li>\n
  2. Those that have helped or advised people in your circumstances and have many years\u2019 experience in doing so. Repetition is the mother of skill. There is no substitution for experience (as Malcolm Gladwell<\/a> has written about). After 15 years of advising investors (over 30,000 hours of experience), I have seen the good, the bad and the ugly. I have seen thousands of different circumstances and witnessed how they have played out. I\u2019ve observed good and bad decision making. All these experiences shape my advice and my clients benefit from these experiences.<\/li>\n<\/ol>\n

    Many people are reluctant to ask for help. Don\u2019t be. Build a team around you and make sure you are not the smartest member of that team.<\/p>\n

    Here\u2019s a list of our experts<\/h3>\n

    We (at ProSolution) surround ourselves with trusted experts to complement our internal expertise and experience.\u00a0We can call upon these experts at any time to ensure we provide clients with trusted advice. Here are some of examples of our experts:<\/p>\n

    Lawyers<\/h3>\n

    Different lawyers specialise in different areas. It\u2019s important to pick a lawyer that has the requisite experience, isn\u2019t too expensive and is going to solve more problems than they create (some lawyers aren\u2019t very commercial and it\u2019s as if they \u2018look\u2019 for problems).<\/p>\n

      \n
    • Estate \u2013 for wills, power of attorney documentation, trusts and so on.<\/li>\n
    • Property \u2013 for conveyancing and any property-related matters.<\/li>\n
    • Superannuation \u2013 super can become complex and the rules are changing regularly so sometimes it\u2019s necessary to get specialist advice.<\/li>\n
    • Family \u2013 for asset protection (financial agreements) and relationship breakdowns.
      \n<\/em><\/strong><\/li>\n<\/ul>\n

      Fixed income specialists<\/h3>\n

      A balanced asset allocation would include some exposure to bonds and fixed interest instruments (both domestic and international). It\u2019s important that we maintain up-to-date market knowledge and have experts to call upon when necessary.\u00a0<\/em><\/strong><\/p>\n

      Economists, research analysts, technical analysts, portfolio managers<\/h3>\n

      When investing in equities there are various experts that we need to draw from at various times including economists (to get macro and micro economic forecasts), technical personnel employed by indices and research providers (for independent commentary), portfolio managers and their teams to understand\/critique strategies (employed by fund managers) and other experts.\u00a0\u00a0<\/em><\/strong><\/p>\n

      Property\u00a0advisors<\/h3>\n

      There are a lot of people in the property industry willing to offer advice but much of it is laden with self-interest and kickbacks. Therefore, you must be very careful who you listen to. We have developed a network of honest, trustworthy and experienced property professionals:<\/p>\n

        \n
      • Residential buyers\u2019 agents and investment property advisors. It is important to use someone with local knowledge as its near on impossible to be an expert in more than one market.<\/li>\n
      • Commercial property advisors. The commercial market is vastly different to the residential market and we have experts we can utilise depending on the type and location of the property.<\/li>\n<\/ul>\n

        Tax specialists<\/h3>\n

        We can deal with most tax issues in-house. However, from time to time we come across highly technical issues that require specialist advice. We have deep industry contacts that we can call upon for expert advice.<\/p>\n

        It\u2019s taken us 15 years to get here<\/h3>\n

        In November 2017 ProSolution will be 15 years old. Over that time, we have built relationships and trust with various experts. We know who to listen to \u2013 and who to steer clear of. This is one of the things our clients value when working with us. That is, they know we have spent over a decade building a network of trusted professionals that we can call upon if the need arises.<\/p>\n

         <\/p>\n ","protected":false},"excerpt":{"rendered":"

        When faced with financial decisions or questions it is often an instinctive reaction to jump straight to trying to figure out what is the correct answer. However, I\u2019d like to…<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"__cvm_playback_settings":[],"__cvm_video_id":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[30],"tags":[],"yoast_head":"\nTrying to answer a financial question? Ask who, not what.<\/title>\n<meta name=\"description\" content=\"When faced with financial decisions it is instinctive reaction to jump straight to trying to figure out the answer. 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