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We have found over the years that the most productive relationships are the ones in which both client and advisor are on the same page. Although always accommodating, our firm can't be all things to all people. When we have attempted to cast too wide a net, neither client nor we have been satisfied with the results.
We are looking for potential clients that are not gamblers looking for the next hot investment. They are not deep in debt, day traders, indecisive, over-anxious, or a finance show addict. They are level headed people that are looking to build a long-term1 relationship with their financial professional. Our clients tend to fall into two economic groups:
1. The first type is the up and comer. They have a good handle on personal budgeting, eager to learn, able to take and implement advice in a timely fashion, open to new ideas, known to pick up a financial magazine every once in a while to stay informed, able to focus on objectives, and stay the course no matter how the market is. This person has developed traits that will prove to be a strong foundation on which to build his financial house.
This client typically has investment assets of between $100,000 and $1,000,000. It is possible to not meet our minimum in some cases and yet fit this type. Young people starting out and people who have faced financial obstacles such as divorce or medical bills can benefit from our services.
2. The second type of client, the financially successful, is someone who has become wealthy. He is often a business owner, corporate executive, doctor or a successful investor. This client has investment assets exceeding $1,000,000. This person realizes that he needs an advisor to assist in financial areas outside of his expertise. Although he has more extensive needs than the first type of client, he knows that straight forward techniques will keep him financially secure. He is not seeking hedge funds, commodities, futures, margin transactions, limited partnerships, or illiquid investments and strategies.
1Although Contour Financial will enter into hourly compensation agreements for providing non-investment advice, most of our clients have been with us for many years. A long-term relationship is an essential ingredient for your financial program to succeed.
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