Evidence-Based Investing Around the World: Sprechen Sie Deutsch?

A Wendy’s Wednesday Whimsy

Yet another nifty quality of evidence-based investing is that it requires global participation (to provide essential out-of-sample observations), and contributes to it too. As the compelling logic of evidence-based investing goes global, we independent providers – advisors, fund managers and support services alike – have been joining forces as well, to convert elegant, evidence-based theory into practical investor-applicable reality.

Supporting and supported by a global community, I’d like to think we’re coming about as close as we can to building that fabled perpetual motion machine.

I’ve especially enjoyed collaborating with Mineral on our Evidence-Based Investing Infographic/Poster. Our brainchild has been experiencing quite the intercontinental ride of late, in no small part thanks to several overseas colleagues. In particular, my fellow EBI communicator Robin Powell of Regis Media helped spread the word about it recently on his Evidence-Based Investor blog. Also, Robert Van Beek, CFP®, Founder/Director of About Life & Finance, reached out to us and kindly offered to help us create a Dutch-translated version of the poster. That’s now available for custom branding at the same attractive price of free (in any currency), simply by selecting “Dutch” on the order form.

This gave me and Mineral a brilliant idea. Why don’t we produce our infographic/poster in several languages?

Continue reading “Evidence-Based Investing Around the World: Sprechen Sie Deutsch?”

The Long and Short of Advisor Videos

A Wendy’s Wednesday Whimsy

A question I often hear from advisors: How long should my videos be?

So, first, if you’ve got any prancing baby goats handy (and you’re frittering away your time on Facebook), I’d say the sky’s the limit.

But let’s say you have to resort to actual information. Then what? Opinions vary. A lot.

Continue reading “The Long and Short of Advisor Videos”

Are Your Clients Happy? Time Will Tell

© Can Stock Photo / photocreo

A Wendy’s Wednesday Whimsy

Hey, did you catch the recent study that’s been making its way around the popular press: “Buying time promotes happiness”? As perennially popular as happiness tends to be, the media jumped right on this one.

Of course one study – even an academic one – isn’t “proof” according to evidence-based rigor. But this particular one seems about as far-reaching as a stand-alone inquiry can get. It’s co-authored by five academic heavyweights from four universities. Plus it represents four academic disciplines across three countries – the U.S., Canada and the Netherlands. Contributors came from Harvard University’s Business School, the University of British Columbia’s Department of Psychology, Maastricht University’s Department of Finance, and Vrije Universiteit’s Center for Philanthropic Studies.

Go ahead and read the study yourself, but one of its compelling conclusions is as follows:

“[W]orking adults report greater happiness after spending money on a time-saving purchase than on a material purchase.”

I’ve seen a number of posts lately about the value of spending money on spending time … i.e., on having experiences instead of possessions. Tim Maurer recently covered this subject nicely, for example. The study I’m referencing suggests people also derive a lot of pleasure from spending money on saving time or, put another way, on avoiding experiences they’d rather not have, like housekeeping or yard work.

Or how about wealth management? While financial services didn’t seem to come up as a happiness-generating time-saver in this particular study, I’d be willing to bet there are plenty of people who would rather be mowing the lawn than figuring out how to finagle their finances.

So here’s an interesting idea for your marketing & communications: What if you presented the value you bring to your clients in increments of time instead of just the money? Here are some ideas to get you going.

Portfolio management services saves some time. After initial set-up, maybe you’re saving a family a couple of hours every month by managing their portfolio for them. That’s nice, but a decent roboadvisor can take care of that too, so this is just the beginning. Continue reading “Are Your Clients Happy? Time Will Tell”