When Nick came to me with this idea, I realized that many investors are in the position of having their money managed by a professional and they pay a hundred basis points or 85 basis points for the advice and for, high net worth clients or clients that are in a position of not really being able to spend time.
With their financial advisor very often because they’re living up there, a professional that likes to do the thing that they do, whether it’s tech or they’ve inherited money, or they’ve just been working for a long time and have their nest egg. And those people are not well informed and can’t have good conversations with their investment advisor.
And the world of investment advice is. Filled with CNBC like advice, and even the traditional financial advisor who most of these target clients of ours are involved with have learned in a period of time, basically anytime in the last 40 years. In which a classic 6040 portfolio was the way to operate.
And we thought that proved to be a mistake now that we’re in an environment that is a little different than the environment we’ve been in for the last 40 years. That means different asset allocations, that means the use of cash more or less liberally, depending on the investment environment at the time.
And so we thought that for. 20 minutes a week, you can watch a video that would be succinct, tell exactly what is really, what really matters in the markets and by listening to that, you could compound your knowledge again, once a week, compound your knowledge so that by the, three months in, you can actually have a high quality conversation with your financial advisor and actually challenge some of their assumptions.
