tag:blogger.com,1999:blog-5465015914589377788.post5341414159816923977..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Fear about Large Sums of MoneyMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5465015914589377788.post-79351827046697778322012-07-10T09:14:02.391-04:002012-07-10T09:14:02.391-04:00@Michael: That is correct, but it's probably l...@Michael: That is correct, but it's probably limited to advisors who have been in business for only a few years. A first-class advisor should have a large, happy client base that constantly provides introductions to friends and family.Davidnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-71456812538750941832012-07-10T08:57:21.725-04:002012-07-10T08:57:21.725-04:00@David: $6 million in cash is an extreme case, bu...@David: $6 million in cash is an extreme case, but it doesn't surprise me. From what I'm told, financial advisors really do spend the bulk of their time looking for clients and persuading them to act.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-21632952375220089872012-07-10T08:52:04.747-04:002012-07-10T08:52:04.747-04:00I realize you wrote that last paragraph tongue-in-...I realize you wrote that last paragraph tongue-in-cheek, but sometimes it has taken almost two years to get prospects to finally move on their finances. In fact, I now have a situation where a business owner is sitting on $6 million in CASH (earning zero interest). At the very least this cash could be invested in GICs or a high-interest savings account. Talk about paralysis!Davidnoreply@blogger.com