Does Your Adviser Have A Game Plan?

This is the refrain often heard at the end of an initial meeting with a prospective Mullooly Asset client:

“Tom, we don’t think our current financial advisor HAS a game plan!”

After twenty-five years in the business, I can tell you, there are PLENTY of folks in my line of work that do NOT have a game plan.

They are simply waiting for the stock market to swing their business around.

And your investments went along for the ride.

When the internet and financial channels like CNBC exploded in the mid to late nineties, individual investors began gathering far more data and information than many stockbrokers, advisers and financial planners. It was all freely available on television and the web. It was embarrassing to hear clients run circles around other advisers and brokers in the business. The problem for many in the investment community:

There was no way to stay ahead of the avalanche of information suddenly available!

Many of the Wall Street firms had simply given up on the concept of letting stockbrokers manage money for individuals. It was too risky letting brokers and financial advisors pick their own stocks and other investments for their clients. Too many potential problems. The singular task of the stockbroker became to gather assets. And then turn those assets over to “the professionals” who were managing mutual funds, and money managers. Around the same time, in the mid to late nineties, I grew frustrated with drinking the Wall Street Kool-Aid and looked for alternative ways to manage money for clients.

This is when I started to learn about Point and Figure charting. It’s not voodoo, everyone on Wall Street has access to these charts. But many on the street shun these charts: they are a LOT of work to stay on top of them.
What I quickly picked up on with these point and figure charts:

These Point and Figure Charts Track Supply and Demand!

If supply and demand can work on Main Street, and at the gas pump, and at the grocery store, why couldn’t supply and demand work on Wall Street?
Well, it DOES.

Not only that, working with these charts builds confidence, since you are looking for patterns. Once you begin to recognize the patterns, you can then know:

What to Buy,
What to Sell, and most importantly:
Know When To Sell It!

And once you get the hang (or once your investment manager gets the hang) of how these charts work, it then becomes crystal clear what to do when:

  • The Market had a big run and needs a breather, or
  • The Market is Moving From Offense to Defense, or
  • When You Need To Make a Change in Your 401k

One of the great features of point and figure charts is they have very clear entry and exit points. this helps build your game plan — your road map of what to do, where to go, what to sell when the market starts to move the other way.

If you would like to KNOW what our game plan is for FREE, sign up with your name and emails address in the box below. We would also encourage to take a look at what it is like working with a fee-only advisor in New Jersey