Powerful Lessons from a LinkedIn Post


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Dan Solin PhotoAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

LinkedIn has become an effective site for communicating between advisors, prospects and centers of influence. My recent experience illustrated how advisors should respond to inquiries from a LinkedIn contact.

I recently posted this inquiry on LinkedIn:

A reader with $5M in assets made this inquiry. He has a financial planner, a C.P.A and a trusts and estates lawyer. He wants to invest all his assets in a Dimensional core fund. He doesn't want any other services. He asks: "What's a reasonable fee to pay solely for access to Dimensional funds?" What would you tell him and what firm, if any, would you recommend to him?

I was stunned at the amount of interest this post generated. When I last checked, it had more than 5,470 views. My typical post has fewer than 100.

I subsequently clarified my requirements to indicate the advisor and the planner would work jointly to determine asset allocation, rebalancing, fund selection and tax-efficient investing and withdrawals.

Let’s review some of the more negative responses. There are valuable lessons to be learned from them.