Episode 15: How Can A Financial Advisor Add Value to Your Life?

ABOUT THIS EPISODE

On this episode of the Build Your Life Podcast with Financial Expert John Browning, we're discussing all of John's valuable mistakes.

After spending many years in the financial field, you're bound to have your ups and downs (just like the market) and John believes that his experience makes him a better advisor every single day. Listen in to learn all about how he's learned from his mistakes.

For more information, visit www.GuardianRockWealth.com to learn more about what John can do for you.

Welcome to the building your life podcast with John Browning. Building your life is a relaxed and unedited conversation with financial expert John Browning. Good afternoon on how are you? Don't Sir, I'm doing great. How about yourself? I'm fabulous today. Do you remember Tommy Hopkins? He was a sales trainer years ago. Oh, Tom Hopkins was a mentor of mine in real estate and he said he always had glamor words, and Glamor words are our words that are commonly known but uncommonly used, and I think you know what. I like that. So I'm going to use fabulous because we don't know what the means. So I'm fabulous. Thanks for asking. Anyway, that's a rabbit triw today I'm your podcast. We want to continue and really pick up from where we were last time. Let me encourage people to go listen to the last episode because it was really, really good. We talked about and heard about some of your mistakes, but my first question today is how has making mistakes, John, added value to your life and and how's that play out...

...in how you serve your clients? Wow, you're going to ask me that two weeks in a row. I am want to keep pressing into you. Well, I you know, it's probably warranted, because you're right. The the value that my mistakes have made or it's just stabulously valuable. How about that? That? Yeah, I'm interested to use the word bonus points. That's right. But it's interesting. You never feel like it when you're going through the mistake. It's always just a horrible experience and sometimes you wonder, why did this happen to me? You know, you become an Eoor you remember or from when you oh no, the life is over coming out of it, and maybe it's maybe it's a month later, maybe two years later, you realize how much you're utilizing what you learned months years. It's for me even decades ago, but I still remember those hard learned lessons. But you know, this is real life now. It's not in the classroom where...

I get a couple wrong and it's okay because I still get it. Still might get an a or at least a B if I get an answer wrong in a test. This is real money that we're losing, all right, and there's just very little that's more painful than losing that that money, and it's real and it cuts to the cuts to the quick, but you learn much more by going through that pain than you do getting a question wrong on a test or something like that. That's great. That's a good analogy. I love you, or even sound like you were there. The funny thing is done when I talk to you, sound more like tiger most day. So let's not go into the hormode. Okay, yeah, I am, or I'm more a little bit more like tigger. And now here's that. Here's probably one and a dumb question. I don't know. They're probably aren't any. But you know, you look at the markets in my portfolio things, so you know the markets are up and down of things. But why can't advise there's really predict what's going to happen with my portfolio. You've done this a long time. The markets have been around forever. We've got computer...

...modules and things that help. What are some of the challenges you face as an advisor? I guess as you're you built the Portfoli you're watching it, but you never know day and day out. Weekend we got what's really going to have on. How do you keep that in controlling and balance within reason to help a client really achieve the long term goals are. After yeah, that's a great question and and there's kind of gets down to the difference between prediction and forecasting and all that, but that's more of a scientific discussion and almost semantics. But I think there's an expectation of people, with their advisors, that they're able to consistently and accurately predict exactly what's going to happen and in the markets. And regardless of what you might hear on TV, no one can do that. Nobody can do that consistently. I love these advertisements where, Hey, this guy called the the Internet boom, or this guy called the the two thousand and seven down turn. Well, okay, and...

...broken clocks right twice a day. You know, it's I would never, just never be comfortable putting myself out there like that, because the truth is that no one can predict things like the coronavirus happening. Yeah, that you no, no one predicted that. Now some many claim name that they predicted that. They say, well, I I predicted that there would be a market downturn at some point. Well, okay, so so did I, exactly. And so it's there's an expectation that I think investors need to understand is that, while we can using our experience, and again, the right experience matters very important. You ask that question of your advisor. You know, what kind of experience have you had? What kind of market environments have you managed through? Because it's it's it's about understanding the way that the complex adaptive system that we call our markets, how things interact, like when the...

...coronavirus happen, and and, as you have still a lot still still going on to some extent. You know. Well, how does that really affect them, the markets, and how does that affect my investments? Well, the reality and economic reality of it is that, yes, it's kind of a bad thing. It'll interrupt supply, it'll reduce what people are spending on travel, it'll it'll reduce oil consumption because of that. And there's you know, I could go on and on and on about the various cascading issues that the coronavirus would cause. Now you add on to that, you know, another big thing that that you might not have expected is that suddenly they would have a price war on oil right during this exact same period. And and what effect does that have on people? Well, it's great for you know, somebody high up in our government and said this is fantastic, it's great for consumers. Yes, okay, that that statement in in some ways, if you look at it from the right perspective, can be true. However,...

...how many people does it effect in a negative way and how many companies does it affect in a negative way, and how does that balance out? Again, this is and we'll have to talk about this on a future podcast. What is a complex adaptive system? Because I'm sure I'm using jargon is confusing people, but we'll talk about that at some point. But it's different than complicated problem, because a complicated problems like a math problem and you can solve for it. You can, there's an answer at the end. A complex and adaptive system is something that you cannot predict and I think investors and clients need to understand that. We do our best and we do our best to prepare for any eventuality that may come through asset allocation and managing some of those risks that we talked about, but we can't absolutely predict what's going to happen tomorrow. That just doesn't happen. Long Answer. It's it one that's really good because you know, I was just sitting here thinking I can predict the future of the market. It's going to go out, it's going to go down. Okay, that's what's going to happen. That's right. What we have to do is is have that long term perspective. And what hit...

...me, the analogy that hit me down was I took a trip the other day that was to a different state and I plugged in the location of my gps and so that's where I wanted to go right and so I was on the Blue Line, just following the Blue Line, and a loan behold, there was construction there and and I had to detour from my route to get around right. The map, the Google map, didn't know that construction was there, otherwise it would have rerouted me. So I hit a barrier, something that was unpredicted and I had to find my way around it. And I think many times in financial situations that's the same thing. You can't really predict road construction all the time. And in our in our finances, in your portfolios, gonna go into it knowing it's going to go up, it's going to go down. It's going to go up, it's going to go down. Long term, we're going after that goal and we're going to get you there right, and that's where, as we talked about in the last few podcast the emotions and and the fears and all of that, the balancing of it, the rebalancing of your portfolios. Having that that portfolio is part of building your life. But having that long term perspective is really, really...

...important, right. That's right. There there are no guarantees in in anything that we do and we are going to do the best that we can based on our experience, and again, the right experience matters, to get you to that long term goal. But it's got to be a long term perspective and one of the things that I say to people is that investing and money is much more about consistent adaptation than any set of rigid rules and it's so much more about the individual than it is about the securities or the products used to in the act of actual portfolio and me management. So it's about that consistent adaptation. Are you said something more about the end of vidual than the more about the individual than it is about the securities, the products, the the things that we do to manage the Portfolioka Guy, what's more about the individual. All right. Well, trust me, we were on to talk more about that in an upcoming episode, because you're right, we do.

We need to understand this complex, adaptive system, because you do keep mentioning that. So if you're glad you did, you do that, because I want to talk about that big what in the world of that? But also the consistency of it all. To realize that you're not a quick, fixed guy, right, meaning you're not if somebody wants to come here and gamble with their money, you're probably not the right guy. But if somebody wants to come here and say, Hey, over the next twenty, thirty, forty years, here's where we want to go, here's what we want to do, maybe even ten years, right, you know it. Yeah, but it's a process. It's a process. I love how you said it's more about the individual, because you're very relational. You want to get to know your clients. That's right, and it's just like the title of Your Book. Build a life, not just a portfolio. And so we want we want to be about both, and that's one thing that really shines with you and your team. They're guarding rock is, is understanding your clients and understanding how how we work with you, become part of a team, part of a family in a sense, to get you where you're going and to realize you know once a while we're going to hit a road block, traffic dam in your investments. We're going to deal with it, we're going to...

...get you around that, we're going to make sure that we get you to your destination, because that's really what they hired you to do. I love it. That's a great episode, good good conversation and great seeds for the next episode. So let me encourage our listeners to go back and make sure you're listening to each episode, because John Keeps unpacking just nuggets of wisdom of how to interact with your financial advisor, questions to ask a financial advisor. Let me encourage you to get a copy of John's book. Let me encourage you to reach out and call John and go to his website all of his contact informations there. You can send them an email, you can call them, he'll do a phone call with you, zoom call and in. Just really start building that relationship to see if he's the right type of guy for you, because he's got great experience and he'll help you get to that destination and work around all of the road box and traffic dans that just so many of us face. Because, yeah, we can't really predict the future, but if you have a solid plan in place and you've got a guy like John Working with you and makes the journey a lot more enjoyable and you're going...

...to end up looking back going we made it, we got here. Thanks John. So, John, let me say thank you for spending some time on your podcast. I always enjoy getting with you and chit chatting, so I hope our listeners are enjoying it just as much as I am. Will be back here and talking about some more upcoming them topics like a complex adaptive systems. So if you're like me and you're not sure what that is, join us next. Next time, John, have a great weight buddy. You do the same. So thanks for listening to the building your life podcast was. John Brownie. Be Sure to subscribe to this podcast so each new episode will be sent to you automatically when it is released. Have a terrific day.

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