Too often folks choose an advisor or firm based on factors equivalent to rooting for a football team based on its star player or, even worse, mascot and colors. This strategy may produce short-term results but often leads to disappointment. So what should you look for in a trusted advisory firm? Let’s look deeper into what makes the Green Bay Packers one of the most celebrated and cherished teams in American sports.
The Packers home is Green Bay, Wisconsin, population 101,000 with an average January high temperature coming in at a sultry 24 degrees. So why in the world do they have one of the largest fan bases in the National Football League? Most importantly, how will this help me select an advisory firm? To answer this question, let’s look at a few characteristics I believe drive the Packers success and remain consistent with today’s top advisory firms.
Built on strong fundamentals, principle, and consistency
Great advisory firms have a storied history.
The Packers story dates back to 1919. From modest and somewhat tenuous beginnings, the Packers have gone on to earn national stature and virtual worldwide recognition by winning more championships (13) than any team in pro football. Much of the team’s unparalleled success in the 60's can be directly attributed to legendary coach Vince Lombardi. His leadership, morals and integrity wove a sense of pride throughout the organization - a pride that lives strong today.
No individual is bigger than the organization.
Great advisory firms utilize a team of talented individuals.
Let’s face it - winning teams possess talent.The Green Bay Packers have 21 individuals in the Pro Football Hall of Fame, second only to the Chicago Bears. However, their talent produced results only when working as a team. In the end, not even Packer icon and future hall of fame quarterback Brett Favre was above the organization. He was released for continually putting personal needs before the team. In the short-run, exiting players and coaches may alter team chemistry, but storied organizations will regroup, retool, and refocus for success.
It's all about the FANS.
Great advisory firms boast raving fans and will rarely lose clients.
The Packers' fan base is famously dedicated. Regardless of the team's performance, every Packers game at Lambeau Field has been sold out since 1960. The average wait time for season tickets is said to be over 30 years and it’s not unusual for fans to bequest their season tickets in their wills or place newborn infants on the waiting list after receiving birth certificates.
The Packers have created a culture built on strong values, teamwork and community – their longevity and success speak volumes. In my opinion, choosing an advisory firm with similar characteristic most likely will provide the same pride and fulfillment a Packer fan feels throughout his or her life. What firm attributes mean the most to you? The culture you are looking for may not be consistent with the Packers (especially if you’re a Bears fan). What’s most important is every great firm has an impressive history, a team attitude and a crowd of die-hard fans.
Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Any opinions are those of Center for Financial Planning, Inc., and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.