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If You Are Going to Hire a Professional Investment Advisor, Let’s Make Sure You Hire the Best: You Really Can Do This on Your Own but for Those of You Who Won’t, Consider the Following Guidelines

  • Nancy Tengler

Abstract

The first time I sat across the conference room table interviewing financial advisors for my own portfolio I was reminded of an old episode of the The Bob Newhart Show. The 1970’s sitcom chronicled the life of psychologist Bob Newhart and his wife Emily, a grade school teacher. Bob is mortified when he discovers Emily’s IQ is much higher than his own and further dismayed when she is invited to join Mensa (a high IQ society that requires members to score amongst the top 2 percent). Bob reluctantly attends a Mensa meeting as her guest, sporting a name tag that includes his IQ (which is high, though not by Mensa standards). Each Mensa member Bob encounters, upon noting his IQ, makes an effort to speak very slowly and very loudly presumably so the less intelligent Newhart can follow along. Their condescension is intentional and obvious. And surprisingly funny. But thirty-plus years later as a prospective investment management client, on the receiving end of similar treatment, I found it a lot less amusing. And not terribly productive.

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Notes

  1. 1.
    Silverstein, Michael J., Kato, Kosuke, and Tischhauser, Pia. (October 2009) “Women Want More (in Financial Services).” The Boston Consulting Group, http://www.bcg.perspectives.com Google Scholar
  2. 2.
    Longo, Tracey. (August 2001) “The Emerging Profile of Women Investors.” Financial Advisor.Google Scholar

Copyright information

© Nancy Tengler 2014

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  • Nancy Tengler

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