Starting my career with a large very well-known investment firm some 38 years ago taught me valuable lessons we use to counsel and advise clients. During that 18 year period of disappointing (biased) research and proprietary investment products that were actually manufactured by that company, I continuously asked the question: “What about my clients?” You see, inherently I felt I worked for my clients, not some financial services firm. It was by my nature and core that I cared about clients first and always sought to put their interests above that of my own or the company that wrote me my paycheck.
As many of you have undoubtedly heard, regulatory changes are coming to the finance industry pertaining to “fiduciary standards” and the obligations we have as financial professionals with respect to retirement accounts.
Let me be clear: we embrace these changes as we serve as a fiduciary for your money in advisory relationships, just as I believe we always have.
https://prosperion.us/wp-content/uploads/2016/07/role_of_a_fiduciary.png424757Steve Boorenhttps://prosperion.us/wp-content/uploads/2017/02/whitelogosized.pngSteve Booren2016-07-27 17:07:022017-11-16 10:06:00The Role of a Fiduciary – Putting Your Interests First
https://prosperion.us/wp-content/uploads/2016/04/5_red_flags_of_scams.png424758Steve Boorenhttps://prosperion.us/wp-content/uploads/2017/02/whitelogosized.pngSteve Booren2016-04-19 20:24:002017-03-14 11:03:30The 5 Red Flags of Scams
I think daily minutia often blurs our capability to see the remarkable progress humankind has and is making. If we take a moment to think back 40 years, back to the time many of you started investing for the first time, we’ve seen tremendous advancements across the board. From energy to medicine, transportation to communication, or any one of a hundred other fields, advancement had been astounding.
But as investors it’s important to see the forest through the trees. So let’s break it down and consider a few special years – years that end in five.
It is fascinating to watch and listen to the narrative of media within our country. We have a tendency to take sides on any given issue, resulting in a constant battle between good and evil, black and white, up and down. Then, when citizens attempt to turn off the noise, both sides yell louder in an attempt to keep their viewers’ attention. But the increasing drone of worthless drivel has the effect of drowning out the good news, the important news, the news we should actually be paying attention to. Today I want to walk through some of those news items that have really interested and inspired me.
https://prosperion.us/wp-content/uploads/2015/10/good_in_the_gray.png422755Steve Boorenhttps://prosperion.us/wp-content/uploads/2017/02/whitelogosized.pngSteve Booren2015-10-16 17:47:162017-03-15 14:49:01The Good in the Gray
(Golden, CO – August 11, 2015) Prosperion Financial Advisors joins with the First Judicial District Attorney’s Office in providing vital crime prevention services to seniors in our community. Prosperion Financial Advisors donated $10,000 to the DA’s Power Against Fraud program which provides crime prevention information and resources for seniors. In gratitude for Prosperion’s community support, District Attorney Pete Weir thanked Prosperion founder and owner Steve Booren in a commemoration ceremony in June.
https://prosperion.us/wp-content/uploads/2015/08/jefferson_county_district_attorney.jpg400990Steve Boorenhttps://prosperion.us/wp-content/uploads/2017/02/whitelogosized.pngSteve Booren2015-08-11 19:48:082017-12-07 15:01:06PRESS RELEASE: DA Welcomes Prosperion Financial Advisors as New Community Partner
In the book Thinking, Fast and Slow author Daniel Kahneman famously describes how people are generally loss averse when it comes to money decisions:
“Losses loom larger than gains. The ‘loss aversion ratio’ has been measured in several experiments and is usually in the range of 1.5 to 2.5: 1.”
In other words, people are 1.5 to 2.5 times more fearful of a loss than reflecting the emotion of greed for a gain.
Loss aversion can have a profound effect on how you view your portfolio, especially when it comes to stocks. Most investors claim to be unnerved by uncertainty, but really we all hate to lose money. It’s one of the reasons that crash predictions and negative thinking always seems to sound more intelligent, make more sense or have more authority.
https://prosperion.us/wp-content/uploads/2014/12/towel_over_the_treadmill_approach.png426758Steve Boorenhttps://prosperion.us/wp-content/uploads/2017/02/whitelogosized.pngSteve Booren2014-12-02 17:32:122017-05-22 15:07:37The “Towel Over the Treadmill” Approach
In 1972, Norman Rockwell painted Father and Son for the cover of the U.S. Trust Company annual report.
The painting shows a well-intentioned father teaching his son the fundamental principles behind the family’s investments. Dad is explaining an investment certificate pulled from the documents strewn across the table and stored for safekeeping in the family’s strongbox. The attentive son’s blank and anxious expression suggests his naiveté. One can only imagine where he would rather be on a Saturday morning!
Exclusive Conference Hosts Gathering of Nation’s Pre-eminent Financial Advisors and Industry Decision Makers
PALM BEACH — Sybil Praski of Prosperion Financial Advisors attended the seventh-annual Barron’s Top Women Advisors Summit, hosted by Barron’s magazine to promote best practices in the industry and the value of advice to the investing public. The invitation-only conference was held at The Breakers, December 4 – December 6 in Palm Beach, FL.
