Financial Football – Who’s on Your Team?

Having been born and raised in Seattle, the start of fall is always a bittersweet feeling for me. I get sad that our short but beautiful PNW summer is ending, but I love that football season is beginning. I have seen many terrific and many not-so-great Seahawks teams over the years, but I always continue to show up as a fan. After having watched the start of our season thus far, one word comes to mind: uncertainty. Over the past few years, we’ve lost cornerstone players to other teams and to retirement. This truly reached a new level when we traded away our star quarterback this past summer. Those players had brought us over a decade of stability and success. All we knew was winning, and we easily left behind the memories of the 2008 and 2009 seasons where we had 9 wins and 23 losses.

I can’t help but notice the parallels between the Seahawks and the financial markets in 2022. This year has been full of uncertainty and volatility for investors. After more than a decade of mostly positive returns, we easily forget the pain of going through the short but sharp decline of 2020, the financial crisis of 2008, and the many bear markets before that. It’s human nature to do so. So, as we are currently in the midst of a difficult season, how do we put together the right team to win you a super bowl trophy (or at least help you achieve your goals)?

Your financial advisor will be your quarterback. You and your advisor must create the proper game plan together for what you are looking to achieve. They will be responsible for knowing exactly what play every teammate is supposed to carry out, and you need to keep in constant communication as the game progresses in order to make the necessary adjustments.

Your research and investment team will be your offensive line. They are critical to protecting your assets and marching your team down the field. As your research team watches the markets, like a great coach, they need to understand when to bring an additional player to the line for extra strength—especially when churning through tough, muddy times. They also need to understand when to send an extra player such as a tight end out on a passing route for additional firepower for your offense.

Many other players are vital to the functioning of your team. These positions are filled by your client service members, your trading department, internal operations, and outside experts like accountants and attorneys. If just one of these pieces is lagging, then your roster will be exploitable.

It is important to call out that not every drive down the field is going to result in a touchdown, much like financial markets won’t generate positive returns every year. But if you can put together an excellent roster, minimize mistakes, and follow a well-crafted dynamic game plan, then you put yourself in a position for success.

Are you ready to have a team that supports you? I really enjoy watching football, but I LOVE helping clients make it to their financial goal line. Call me this season, and let’s strategize on some plays!

Disclosure: All opinions expressed in this article are for general informational purposes and constitute the judgment of the author(s) as of the date of the report. These opinions are subject to change without notice and are not intended to provide specific advice or recommendations for any individual or on any specific security. The material has been gathered from sources believed to be reliable, however Merriman cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source.  Merriman does not provide tax, legal or accounting advice, and nothing contained in these materials should be taken as such.