Ask Brad: The Toxic Lesson from Dry Cleaners
This is the latest installment of a regular column to answer questions from advisors who are considering transitioning to an RIA model. To see Brad’s previous articles, click here. To submit your question, please email Brad here.
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
You provide a lot of value to your clients. Save them from making even a single catastrophic financial mistake and your fees will forever be a moot point.
I was reminded of this by a thread on Twitter, which I acknowledge is a source of information. I am lacking when it comes to tweeting, but I am an avid consumer of tweets.
If you sort through the noise of the platform (tip: mute people who add no value to the conversation), it is amazing who you can learn from – particularly from those in industries you might not otherwise cross paths with.
I stumbled upon an anonymous account of a guy who owns and operates commercial strip malls (“StripMallGuy” @RealEstateTrent.) Have I ever considered investing in a strip mall? No. But before you know it, my fascination with his tweets kept me digging down his rabbit hole of knowledge.
A topic he touched on was the impact a dry cleaner business can have on a commercial property.