Investing is about far more than just growing your wealth. It’s about using money as a tool to live your best life and build a better future. That’s why for Harold, offering personalized service has taken on a whole new meaning.
Harold works with our clients to custom craft financial plans, prioritize and fund financial goals, optimize investment portfolios, mitigate risks, and maximize tax-efficient retirement income. We believe in the power of resourcefulness and creative thinking. If there is a way we can get your money to work harder for you, it’s our mission to find it.
Most importantly though Harold is proud to adhere to the fiduciary standard, bound by a legal obligation to do what’s right for our clients. That’s why we offer straightforward and transparent pricing as we work to improve an industry we know can do better. At Kingsview, we are just as invested in your success as you are.
As humans, our survival instincts were initially developed to protect us from lions and tigers, not bears and bulls. While adrenaline rushes may have once aided our escape from a tiger, they aren't necessarily helpful when navigating a volatile market. So, how can we distinguish between logic and instinct? Our subconscious biases are influenced by various factors beyond evolution, such as our upbringing, acquired knowledge, neighborly advice, and media exposure. The challenge lies in recognizing these subconscious biases, but by doing so, we can avoid costly decisions. Let's explore four powerful biases and how we can overcome them.
Do you find yourself repeatedly ordering the same coffee or sticking to familiar brands? Familiarity bias can interfere with your financial future. It can limit your investment diversity and create gaps in your wealth plan. By playing it safe and relying too heavily on what's familiar, you might unknowingly put your wealth at risk.
It's essential to outsmart your subconscious by exploring new options and considering alternative strategies.
Whether it's a sinking sailboat or a failing investment, it can be challenging to admit when it's time to let go. Loss aversion bias leads us to hold on tightly, hoping to recover what we've lost. However, refusing to accept losses can prevent us from moving forward. This bias exposes us to unnecessary risk and hinders our financial progress. It's crucial to outsmart this bias by recognizing that cutting losses can sometimes be the wisest decision. By accepting losses, we can redirect our focus toward better opportunities.
Do you often believe you can outsmart traffic or time the market perfectly? Overconfidence bias can undermine your financial plan. It leads us to overestimate our abilities and knowledge, causing us to make poor decisions. This bias may tempt us to take excessive risks or chase after the next big thing. To overcome overconfidence, it's important to acknowledge our limitations, seek objective advice, and focus on long-term goals rather than short-term wins.
By solely focusing on small details, we may miss significant opportunities. Mental accounting bias limits our perspective and prevents us from considering the broader picture. It's important to overcome this bias by taking a holistic approach to our financial decisions. By considering all aspects of our wealth plan and exploring alternative strategies, we can make more informed choices and avoid missing out on valuable opportunities.
While we all have subconscious biases, we don't have to let them dictate our financial well-being. By working with a knowledgeable and accountable team, you gain a valuable resource that advocates for your best interests. Don't hesitate to reach out to us today to discuss how we can help align your financial plan with your long-term goals and well-being.
We are aware of how difficult it can be to navigate wealth in ways that give you freedom and not more obligation.
Kingsview Partners is a boutique advisory firm with sizable partners, which allows us to adapt our strategies as appropriate. Our clients receive the “small firm” benefits of a custom financial plan, paired with the security provided by large custodial partners.
Kingsview Wealth Managers are never obligated to push certain products and services. They are free to present all available options to investors and do not restrict offerings simply because they may be inconvenient, complex or difficult.
Kingsview Partners offers a truly independent platform for its advisors. As fiduciaries, our Wealth Managers can effectively mitigate conflicts of interest and provide investors with a clear understanding of the motivations behind their recommendations.
Kingsview Partners attaches great importance to the responsibility borne from our fiduciary duty. Kingsview Wealth Managers may serve up to 40% fewer clients than their peers, allowing them a greater opportunity to listen, plan and execute for the investor.