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Thursday, March 13, 2014

Politicians would make good financial advisers

This is, of course, false.  You would be astounded at how everything we advisers and agents do is micromanaged.  Here is a recent cautionary trade press article about practices that get us into trouble.  If only all other industries were held to such standards!  Especially the power brokerage (political) industry.  Why is this?  I think it is because we advisers are on the ground dealing with real people on a daily basis; we don't have the time or resources to lobby, unlike insurance companies, bankers & investment brokerages.  In addition, once targeted by regulators, we don't have the resources to fight back; we're easy prey.  Hence we bear the brunt of regulatory scrutiny to an absurd level, while guys like Bernie Madoff waltz away with unrecoverable billions.
Anyway, here's the article.  My main critique of Utah regulations:  If something is true, you should be able to say it.  If a product pays 100% of something, then that shouldn't be illegal to put in writing.
Cautionary Tales

Tuesday, March 11, 2014

All Advertising Works

This heading is, of course, a myth.  And I'll base my position not by citing scientific research nor academic studies.  I'm basing it merely on my personal experience and the assumption that I am not the only one in the world whose mind works this way.  Although I've been told the contrary.
Are you paying a fortune for pop-up and scrolling banner ads or those obnoxious "bad-breath"* videos that hog your target audience's bandwidth and hinder their work efficiency?  I hope not.  Because my mind doesn't even see them anymore.  But even if your ad makes it far enough into my consciousness for me to recognize and remember your brand, that is not a good thing.  It is a demerit, prompting me to block you forever.

*i.e. as unexpected, unpleasant and unwanted as bad breath