Broker Check
The Narrative and the Noise

The Narrative and the Noise

| September 01, 2023

The noise is everywhere: politics, the markets, 24-hour news channels and, of course, social media. The noise is exponential and it’s on steroids and it drives our behavior, our emotions and our decision making whether we like it or not.

Over the past few years, we have battled a global pandemic, the rollercoaster market, and employment and staffing issues, just to name a few. Our clients call us and attempt to allow the noise to dictate their behavior which would ultimately alter the amount of risk they can handle, their savings rate, and their financial decisions.

For a large percentage of Americans, the noise is like your pushy GPS that is trying to direct you even when you have turned into your neighborhood. Intuitively, you know which direction to head, the best streets to take to avoid lights, and why driving down Benfield Road at a certain time of day is a nightmare. But it can still be hard to ignore the blaring voice in your dashboard.

Sometimes, the best thing a financial advisor can do is help to quiet that noise by leaning forward, turning off the GPS, and assuring you that together, we’ve got this.

Let Us Adjust the Volume Control

At Phronesis Wealth Management, our job is to create a process to defray the noise and the angst that clients feel when the volume rises, so that they don’t instinctively pivot every time news breaks or the Dow is flashing red on their smartphone.

There is a massive disconnect between noise and outcomes. The truth is, we waste a lot of time as consumers. We waste time looking at the wrong scoreboard. Investments, the Dow, the S&P are all on the wrong scoreboard. As wealth advisors, it’s important to create a better indicator and keep our clients focused on it.

The best scoreboard is your savings rate. More savings and less spending will allow our clients to stretch their nest egg for a longer period. This means advisors and clients together must address those difficult conversations about cash flow, budgeting, and lifestyle head on.

So, What’s the Solution?

Develop a process now—to create positive behaviors for the future.

Yes, there will still be uncomfortable conversations, and our process will be tested as the noise increases, but together we can influence better outcomes.

Together… we can quiet the noise.

The team at Phronesis Wealth Management in Severna Park listens to the concerns you have while cutting through the noise. We offer advice and options to implement a comprehensive financial plan. Contact us today to set up a complimentary consultation at 410-647-6762 or use our online scheduling link to make a 15-minute introduction with CEO/Financial Advisor, Richard Osman:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.