Blog | CB Investment Management

Introducing Best Practice Financial Services.

It is crucial to protect your own Best Interest when it comes to financial services. No less an authority than Warren Buffet dismisses the value of most financial advisors on video here.

Financial Advisors don’t seem to spend much time getting “Informed Consent” from their clients after explaining why their approach delivers Best Practice. Most clients don’t have the time, experience or confidence to challenge their Financial Advisor.

It is important to realize that you cannot safely assume financial advice is anything like Best Practice. It may even be dangerously misguided.

This issue is worse than most investors realize. Buffett does not go as far as he could! Beyond his comments on deeply flawed investment advice, the problems of poor advice apply just as much to Financial Planning, Retirement Planning, and your savings account. There is information and videos on the website which reveal the problems that need addressing as well as providing expert insight and solutions.

The only way to ensure your Best Interest is to understand and then demand Best Practices for your own wealth. My new website enables you to do that.

A blue and gold sign

Description automatically generated

Here are the likely consequences of not ensuring Best Practice:

  1. Investing. The most successful investors of all time have a primary objective of compounding returns for the long term. This is a mathematically clear objective. Most advisors do not have the same commitment to that approach. If you are not compounding then you could be taking excessive risk, have more uncertainty about your long term return and less long term security of capital, amongst other issues.
  2. Financial Plans are typically modelled on the same approach as the defined benefit pension plans, which fell behind on their funding and are now being phased out. These plans are highly sensitive to investment assumptions, and do not have high long term security standards. Their accuracy is additionally questionable, as they focus on asset values leaving open the complex issue of tax rates and withdrawal rates. There are more accurate, and secure approaches as revealed in the website. 
  3. Retirement plans and options are very broad and need extensive attention to detail. A valid, accurate and authentic retirement planning tool becomes critically important.
  4. IRMAA is a form of additional “income tax” applied to  Medicare premiums. IRMAA in most cases materially changes your retirement plans. It is essential that it is assessed long before retirement age or age 65. If it is not properly planned it can have devastating consequences that hit in the late 70s and 80s when a retiree may have very limited options.A full IRMAA assessment is recommended at age 60 at the latest to allow time to take appropriate steps to optimally address its consequences. If you do not have an IRMAA assessment you simply have not completed your retirement plan.

    A logo with a black background
    Chris Belchamber is an IRMAA certified planner.
  5. Savings accounts vary widely across a range of issues, not least the interest rates offered, access to cash, and range of options available for safe high income. Compare your savings account with our “Ultimate Savings Account”.

In each of these 5 categories there is a clear difference as regards Best Practice and conventional practice. Furthermore, when you combine the impact of Best Practice across all 5 categories the difference in results increases.

Whether or not you have Best Practice will lead to dramatically different outcomes.

A blue and white background with white text

Description automatically generated

The only way you can be sure you are on the optimal financial track is to take back control of your wealth. The new website is designed to empower you to safeguard your own Best Interest. It will enable you to discover, with clarity, what Best Practice actually is.

Then you will no longer be intimidated to challenge your advisor, who will not be able to refute the findings of the most advanced and experienced financial experts. 

Only then can you make a full due diligence “INFORMED CONSENT” decision about what is best for you. Contact us if you have any questions about this or if you need support on any of these issues.

Now it’s up to you. You have two options:

  1. You can choose to hope things will work out in your favor not knowing whether you can trust that you actually have best practice. You will not understand the method or the quality of the advice, the unnecessary risks you may be taking or the probability you will be successful over time. You have placed your full trust in your advisor, who may not have much experience or even understand the full consequences of the  methodology being used. 
  2. Only by verifying best practices, can you become fully informed about the quality of the decision process being applied to your wealth. You will immediately become clearer about the process, the risks, the probability of success and your long term security. You will have greater confidence, and you will be able to make much better life decisions for yourself.

Best Practice is a matter of your Best Interest.

Education and a Commitment to Informed Consent is an Obligation.

Chris Belchamber is an IRMAA Certified Planner

Medicare’s IRMAA impacts every retirement plan. Learning how to mitigate it is available via IRMAA Certified Planners designation.

Sign up to receive the best practice community insights directly into your inbox

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts

Sign up to receive the best practice community insights directly into your inbox