Being boring brings big moolah…

Once a pilot was interviewed and asked - What’s your job...?

Pilot answered - My job is simple, means I only work at the time of take-off & at the time of landing this little bird i.e. aircraft, rest of the time it’s on auto pilot mode.

Interviewer - Anxiously asked “whoaaa!!! but it doesn’t’ seem so simple the way you mentioned it, I mean, don’t you think that in turbulence times you have to face some challenging or tricky situations...”

Pilot answered - In such times, I simply sit in my cockpit and wait to pass that turbulence over...

Interviewer again asked - Don’t you think that this way your inactions may cost life of hundreds...

Pilot answered - Sir, that’s my job is in such times, to be in-active, means, to sit with patience because my actions are more risky than non-actions during turbulence...

So this applies the same as far as Investment & Wealth Management is concern.

The process has to be boring because thrill always prompts you to do some mistakes...and in these thrilling times, Investors or Wealth Manager’s “in-actions” comes out as a winner.

And why in-actions are sometimes are more important, this we can learn from one Wealth Management Firm.

This firm sent thanks note to their clients for the trust shown by their Investors and the Investments made with their firm basis advisory.

After few days, some letters got returned with the reason ‘Addressee not found’

Marketing Head of that Wealth Management Firm took this as a challenge as to why these letters got returned when the addressee’s were those who had big chunk in their portfolio’s.

Marketing Head then called a meeting and directed the office to send their Operation Manager to visit the respective investor’s addresses.

To the Firm’s surprise, these were those Investors who were no more.

Marketing Head, then, with Operation Manager, checked their entire investment details and found that funds were manufacturing amazing returns as compare to those who received letters (means the investors who were alive).

Then they immediately reviewed all the investments vis-à-vis to those investors who were actively managing their funds.