Do Nothing

One of my favorite books about my profession is Behavioral Investment Counseling by Nick Murray. The general thesis of the book is that advisors, like myself, find their primary value to our clients by counseling them behaviorally in pursuit of their own best interests.

The book is ten years old but this is evergreen:

How did I fail to make clear that I charge for advising you to do nothing only when nothing is the perfect, ideal thing to do?

I struggle with this especially in 2018, when all of us are subject to the constancy of what one might call “digital busyness.” Notifications, emails, texts, tweets, calls. The adrenal shock of a buzzing phone. When the firehose is at full blast, we come to expect a certain cadence of communication from everywhere, including from our money.

There is always something to do or to be done - the anxious among us will take this too literally, and apply it to their investment lives to their own detriment. I have witnessed it.

My point is this: there are times when nothing is the perfect, ideal thing to do, and I hope to create more of those moments for my clients.

RPC

Robinson Crawford