|See HighTower's "Brokers Are Butchers" Viral Video For Yourself|
|Tuesday, March 20, 2012 14:37|
Elliot Weissbluth, CEO of HighTower, is actually a talented cartoonist as well as a great communicator. The firm's recent Youtube video gives him a chance to demonstrate both sets of skills -- and take a stab at the transaction-based financial industry at the same time.
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"Brokers versus Fiduciaries" doesn't necessarily slander brokers by comparing them to "butchers." Weissbluth acknowledges that butchers know more about meat than anybody else.
But the next point -- that butchers don't necessarily know which meal is best for a given individual -- is brilliant. The brokers are the butchers. The fidicuary advisor is the "dietician," the person who can tell investors which cuts of meat make sense and which to avoid.
There's no "inside baseball" industry sniping about business models, compensation, higher moral codes, regulatory structures, certifications.
It's a brilliant, jargon-free piece of work that every fiduciary advisor should use as an example of how they position themselves.
Since your prospects are likely not wholesale purchasers of the "meat" in the financial marketplace, they want a dietary perspective. They want a meal planner, a calorie-counter, someone to weigh the options.
That's all it takes. And Weissbluth communicates that without going into nauseating detail on how the sausage is made.