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Sunday Morning Quick Hits # 10: Treat You Like You'd Treat You.


I love the Discover Card commercials where they feature the client talking on the phone with a customer service representative. The theme of the commercials is that Discover Card treats you like you’d treat you. They are great commercials and a great theme for all customer service teams to emulate.

At TruNorth, we approach our clients similarly and make sure we discuss investment themes in terms our clients can understand.

For example, if we meet with a medical professional, we correlate our investment strategies with the way a doctor treats a patient. For instance, our use of financial science and investment tools is required to properly diagnose an investor’s condition. A doctor would not prescribe a drug or treatment without utilizing the finest equipment and diagnostic tools available to him/her. Speculation about the future price of a stock and purchasing it for an investor is akin to malpractice in our opinion. "We wouldn’t dare prescribe a stock purchase based on speculation for our clients". That’s what we told a recent client in the medical field.

No matter what the profession, it is important to talk to people in terms they understand and to treat them like you want to be treated. Discover Card has it right. And, your financial advisor should get it right too.

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TruNorth Capital Management L.L.C. (TruNorth Capital) is a fee-only Registered Investment Adviser (RIA) registered with, and regulated by, the United States Securities and Exchange Commission (SEC). TruNorth Capital is limited to providing advisory services to residents of Michigan, Missouri, Washington, and other states where TruNorth Capital is notice filed or is exempt from notice filing. Most but not all states permit a RIA to have a minimum number of clients before notice filing is required, providing the RIA has no physical presence in the non-resident state.  All clients and potential clients have access to important information about our business methods, fees, professional qualifications and all other pertinent business information. By using this website, you accept our Terms of Use and Privacy Policy. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in loss.

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Regarding the interaction TruNorth Capital or its representatives may have with clients and/or potential clients in ERISA-covered plans, including SEPs, SIMPLEs and non-ERISA retirement plans that are subject to Section 4975 of the IRS Code, including IRAs, Keogh plans and Solo 401(k)s (collectively "retirement plans"), TruNorth Capital may provide non-discretionary investment advice to a specific investor, recommending or suggesting the acquisition or disposing of securities or other investment property in a retirement plan and/or recommending a rollover from a retirement plan to another. During the course of this interaction, TruNorth Capital meets their requirements of a "level-fee fiduciary" and adheres to the Impartial Conduct Standards that require TruNorth Capital to a) provide advice that is in the client's best interest, b) receive only reasonable compensation for its advice and; c) not make materially misleading statements. 

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