In casual conversation, someone told me that they were great with their investments because they had someone they trust at a big firm taking care of all that. I said terrific, how is it invested? The look they gave me was the look most people do, confusion, misunderstanding and discomfort. If I already knew what big company it was at, doesn’t that mean I know where and how it is invested?

If someone I loved was in Mercy Hospital, that would tell you one thing. But if you wanted to know more because you were close to your loved one, you would ask who the doctor is and what they were doing to them and what the diagnosis was. Yet, an established financial firm seems to be the cover for many financial questions.

There is so much more. You want to keep your money close to you and understand where it is invested or saved. You are the only one responsible, no matter who is managing the money for you. You have given them the power to manage it, but still your job is to be sure they are doing what you want. You want to communicate your needs and goals. Then, be sure they educate you and communicate with on how they are working towards your wants: where the money is invested, how risky it is and how much they are charging you to make all this happen.

Then, you will truly know and can state that your investments are doing well. The details demonstrate the truth of your money, the investment company name does not speak to your individual situation.