Investment Advisor
Executives face 3 Big Investment Problems - Here's How to Beat Them
Problem #1. - Keeping on Top of your Investments
Do you ever worry that you don't spend enough time following and monitoring your investments. You're not alone; this is a top concern among executives.
If you're like most executives you have a demanding job - otherwise they wouldn't pay you the way they do. Add to that a busy family life and you have little time left to spend on your investments.
Busy or not, I'm sure you'll agree that their can be serious consequences for not staying on top of your investments. Problems like inappropriate risk, chronic dogs in the portfolio, or failure to take advantage of current markets just to name a few.
Over many years, I found that my Executive clients generally did a poor job of monitoring their account - they were just too busy for that. We needed a new approach, and we found one.
Instead of expecting them to monitor each little change to their account, we switched to relying on a set schedule of periodic reviews.
My clients preferred it.
Every 90 days they set aside 45 minutes (minimum) to do an account review; often over the phone - saving more time.
Each review covers;
- returns since the previous review along with a comparison to agreed upon benchmarks,
- review of all transactions including realized gains or losses,
- one or more investment positions are reviewed in detail - to increase depth of understanding.
The result - my clients stay on top of their accounts and I'm accountable for results.
Problem #2 - Am I Saving Enough?
The truth is most Executives simply don't know if they are saving enough or if their investments are growing fast enough to replace their income when they retire.
Why is this?
Simply put, most executives and their advisors have not done the work to answer the question "am I saving enough to provide for a comfortable retirement?"
There is a solution.
I was senior Financial Planner at a local financial institution for four years; during that time I prepared hundreds of financial plans. It was during this time that I found the solution to helping my Executive clients answer their big financial planning questions.
For any of my Executive clients, that want it, I prepare a Retirement Plan. It allows clients to see the likely results of their current actions and what it takes to provide a retirement they can look forward to.
The result - sometimes a sigh of relief and other times a wake-up call.
Problem #3 - Too Many Dogs and not Enough Winners
Many clients first come to me because they suspect that they're holding some mediocre investments.
Given that many of the most popular and common investments are more about marketing than investing; I often find they're right.
This gets us to the topic about which I am the most passionate; finding compelling investments.
With a little digging there are real alternatives to the mass-produced products most investors settle for.
The result - (I hope) more compelling investments.
About Joe Timmath
- Over 10 years providing investment and financial planning advice to local executives.
- Chartered Accountant (member of the ICABC) - worked as an auditor in Canada and abroad.
- Certified Financial Planner for over 10 years - 4 years as Senior Financial Planner at a well-know local financial institution.
- Canadian Securities Course (honours), licensed in BC and Ontario
My Investment Approach
- Contrarian Investing
- Value Investing; expensive companies simply not welcome
- Theme Based Investing; seeking to benefit from current trends
- Micro-Cap Investing; benefiting from the under-followed and under-appreciated
- Speciality Vehicles; vehicles that can be ignored because they don't provide enough incentive for distribution channel (Closed End Funds)