leaf check-circle cross-circle Lifted Logic Web Design in Kansas City clock location phone play chevron-down chevron-left chevron-right chevron-up facebook checkbox checkbox-checked radio radio-selected instagram google_plus pinterest twitter youtube send linkedin plus checkmark minus
Tired Financial Advisor

C’mon! Who Wouldn’t Want $10,000 and Free Breakfast?

Back to Blog

Early in my career as a financial advisor I was sitting at a local restaurant waiting on a friend to have breakfast.

It was one of those little places where the tables are just a tad too close to each other. I was early and while I was sitting at the table I overheard the conversation occurring at the table behind me.

Seated were three people. Two of them had on three piece suits and were decked out in fancy jewelry (Rolexes, cuff links…etc.). These two young men looked to be in their late 20s…and I could smell “stock broker” rolling off their $3,000 suits. The third gentleman was clearly a prospect for these two guys – we’ll call him Jim. I could tell they were pressing him hard to move his accounts to their firm. And then came the most egregious thing I’d heard an advisor say in my nearly 20 years as an advisor:

Financial Advisor #1 leaned across the table lifts his head and looks squarely at Jim, “Do you like to make money.”

Jim confidently said, “Well, of course.”

Financial Advisor #2 tapping the table, “How about $10,000?”

Jim meekly replied, “Yea, sounds like a…good amount. That’s a lot of dough.”

Advisor #1 in a dead serious tone says, “Well, we do that for our clients in a single day.”

I almost fell out of my chair.

What a Load of Complete and Total B.S.

You see, Chris and I started our careers in the big brokerage firms. We learned a lot of things, including how many of the financial advisors only cared about hitting sales quotas — at almost any cost. (We never fit in there and subsequently left to start our own independent firm.).

So when I heard the two brokers next to me spouting this garbage, it infuriated me. For starters, I knew there was no way they could generate that sort of result on a regular basis. They were setting this guy up to fail by appealing to his sense of greed.

Jim was sitting there with a real problem on his hands. If he didn’t agree to move his accounts to them then he would feel stupid (after all, who doesn’t want to make $10,000 in a day!!!) and if he did work with them, he was going to find out the hard way (what he already knew deep down) that you don’t make money that easily or consistently in the market.

I don’t know what happened to Jim. But it isn’t any wonder why so many folks fear talking to a financial advisor. Here’s the experience you can expect in the typical financial advisors office … you’ll:

  1. Walk into a red mahogany office that is super stuffy
  2. Be greeted (traditionally by a male) in a really expensive suit
  3. Listen to him talk all about how his firm is the greatest of all time
  4. Likely hear what they charge to manage money or give you advice
  5. Feel like an idiot because the “talking suit” will talk over your head the whole time in fancy terms
  6. Then be pressed to make a decision on the spot to sign on the line that is dotted

Holy smokes. That is a painful process to endure to get help. Is it any wonder that 62% of Americans don’t have a financial advisor? 1.

A Real Financial Advisor is Only a Few Key Strokes Away

At blooom, we get it. We built this company to serve anyone, anywhere, anytime…oh, and for any size account. I know firsthand that having a financial advisor makes a huge difference to your overall outcome and success.

This isn’t a new concept. Hire a dentist and have less cavities. Hire a weight loss coach and you’ll lose 9% of your total body weight (versus 6% going it alone). 2.

You hire a financial advisor and we’ll be here as your partner to keep you from making poorly timed investment decisions. Studies have shown working with a pro can influence your portfolio. 3.

So, skip the pressure breakfast, highfalutin investment vernacular, and fast-talking broker. Instead, get help in 5 minutes with blooom — starting with your 401k. Oh, once you sign up, did you know that you’ll also have access to ask a financial advisor any question you’d like via our chat functionality? Yeah, we do that too.


The information is provided for discussion purposes only and should not be considered as investment advice. Investing involves risk. Your investments are subject to loss of principal and are not guaranteed. 

1. Most American Get No Financial Advice: Survey ThinkAdvisor. June 21, 2016, from https://www.thinkadvisor.com/2016/06/21/most-americans-get-no-financial-advice-survey?

2. Study Shows Health Coaches Effective in Helping People Lose Weight, Live Healthier Lives American Council on Exercise Certified News. September 2012, from https://www.acefitness.org/certifiednewsarticle/2892/study-shows-health-coaches-effective-in-helping/

3. Alpha, Beta, and Now Gamma  Morningstar Investment Management. Aug. 28 2013, from

Published on April 13, 2017