Spokane
835 North Post, Suite 102
Spokane, WA 99201
509.325.2003
Seattle
583 Battery St, Suite 3603
Seattle, WA 98121
206.502.0530
Weekly TEN
Conflicts of Interest & Client Experience
December 2, 2021
What drives every decision we make is how do we improve our clients’ results and experience, what enables that is our independence and like-minded strategic partners. It is also possible because, unlike so much of our industry, we make our decisions and investments in our firm with the same type of long-term mental framework we encourage our clients to have with respect to their plans.
Does a “Non-Worrier” Even Need an Advisor?
November 25, 2021
The “non-worriers” out there are blessed with optimism and great attitudes, but demeanor alone won’t get you where you want to go, as there are always issues to be addressed. Addressing them isn’t about instilling you with worry but giving you confidence in your optimism.
Talking About Hard Things
November 18, 2021
Sometimes it's about unhealthy control, but most often the “CFO-spouse” is just trying to do their role. However, if they are truly trying to do that role ALONE they will likely have many unintended affects from creating anxiety in their spouse today, to creating a mess for their families when they are not around anymore. A good advisor isn’t there to replace you, but to partner with you.
So You’re Different…?
November 11, 2021
Everyone says they're different and innovative, but all too often look and act like everyone else. We’ve spent a lot of time and money to walk the talk, and make an impersonal industry, personal again. We are invited into a special place in our clients' lives, and we try to honor that invitation with a unique and personal approach to how we service their families, as well as a special place for them to come to here at TEN. From our planning and portfolio process, down to how we’ve designed our offices it’s with one person in mind … you.
Fees Aren’t the Only Cost
November 4, 2021
Fees aren’t the only cost to be considered, just perhaps the easiest to see. We see every day the huge cost of not properly planning, including the common paralysis that sets in and corresponding opportunity cost of sitting in cash. Or perhaps it's the cost of improperly structuring accounts which costs a person unnecessary taxes. Costs should absolutely be considered, just make sure you truly understand all of them to find the best value.
Newsletter Warriors
October 28, 2021
I hear all the time about the “magical” newsletters that DIY’ers believe will lead them to success. Very few of them ask themselves, why if said person/company is so great at picking stocks and timing the market do they run a newsletter instead of an actual fund or advisory business? And even fewer have actually studied the historical performance of said newsletter writer (e.g. https://islandora.wrlc.org/islandora/object/muislandora%3A2980). In short, find a partner not a prognosticator.
Overlooked Portfolio “Insurance”
October 21, 2021
An often-overlooked benefit of working with a team on your finances, is being prepared for the unexpected life events that in some ways shouldn’t be all that unexpected. Issues of untimely passings, cognitive decline, or other trials can leave families in some very tough spots that we unfortunately see all too often. Having a team around you and your family ensures someone is helping keep watch, as well as being there to step up during such times to alleviate some of the burdens.
Fired or freed?
October 14, 2021
There is no growth or evolution without facing one’s fears, whether that’s rejection, failure, or something else. The key to taking that next step isn’t about being able to see the path to success and it certainly isn’t about waiting for “an open door” — it’s about having a purpose strong enough to give you a reason to leap.
You Can Be Only Manipulated if You Act
October 7, 2021
I hear from time to time about people concerned that the market is rigged or manipulated. I would argue investors are manipulated far more often than the markets themselves. Investor’s greed is stoked, their fear is fed, and for those that don’t stay disciplined their predictable responses to those emotions can be taken advantage of. If you can remember that no one outside of you, and a trusted advisor, has an interest in you sticking to your plan, it will help you drown out those that might wish you ill.
No One Goes It Alone
September 30, 2021
Our desire to lead and serve comes from a place of confidence based not in a singular belief, in our own strength or insights, but the belief in our partners, community, and process. Success, whether investing or life in general, is about surrounding yourself with great people and a disciplined process and philosophy to support and/or govern you when emotions are high. We are honored to play that role for our clients, and thankful for the support and partnership they give us as well.
Our “Not So” Hidden Agenda
September 23, 2021
Ours is an industry of not so disclosed fees, conflicts of interest and hidden agendas. At TEN, our compensation structure cannot be manipulated, which means we are happy to talk about our “hidden agenda” — take great care of clients to keep them for life and earn the honor to work with some of their friends and family over time. Like we ask our clients to do, it's a process that is an “investment” in the future whose success is built on hard work and patience.
Why We’ve Committed to Our Commentaries
September 16, 2021
There’s plenty of “talk” about appreciating one’s clients or community, but one way we try to “show” it is by committing to our weekly process of researching and producing our Commentaries - which we’ve done without fail for over 300 straight weeks. We certainly hope they provide useful info, but they are also a great way for us internally to practice accountability and consistency.
Is it about them or you?
September 9, 2021
Conflicts of interest are everywhere in this industry and go far beyond just the oft-spoken about “fees." What’s motivating your partners? Is it about their success or yours? Is their firm designed to bring attention to themselves or their purpose? Finding a trustworthy partner goes beyond fees and portfolio design.
Always Moving Forward
September 2, 2021
As a team we always try to hold each other accountable to living out the advice we give others. Regardless the season (even good old summertime) we strive to stay focused on our long-term goals and put in a little work on those each day, while not forgetting the “why’s” behind those goals. DETAIL your why’s, DEFINE your goals, and make DAILY progress.
Want to Win the Lotto?
August 26, 2021
For me, no. The most important things are one’s purposes and passions, and they should be guarded oh so carefully. Sure, they can be exceptions but for most of us the rules apply. It may not be the threat of a large amount of unearned money that throws you off course, but there are many sized threats to your purpose and passion everyday. Never forget those are the real treasures in life.
Madoff, Monsters & Our Mission
August 19, 2021
Madoff’s death a few weeks ago got a lot of people talking about “bad actors” in wealth management. Unfortunately, he’s not the only bad actor out there. The number of misguided, misinformed and/or self-focused advisors is staggering to me. Thus our mission to cultivate transparency and a team of talented but also high character individuals all in an effort to be accountable to, and effective at, helping our clients reach their goals.
Money, Marriage and Misunderstandings
August 12, 2021
One reason we believe starting with a clients goals and “purpose”, is to help clear up common misunderstandings between spouses that can lead to hurt feelings, arguments and ultimately costly avoidance or worse. Very rarely do we find that spouses' goals are all different — it’s just the difference in how they express them and/or roles they play which can lead to confusion. The power that our process, and 90 intentional minutes, can bring to families is one of the great joys of what we do.
Failure Is About Your Framework
July 22, 2021
Nobody wants to make bad decisions and most people “try” hard. Failure to live one’s best life and achieve one’s goals isn’t about a lack of effort, but rather taking the time to truly understand (1) why are you feeling the way you do? and (2) creating a "positive framework" to motivate one during difficult tradeoffs. You are always “buying something” make sure it’s what’s most important.
Nothing Good Comes Without Struggle
July 15, 2021
We tell our clients all the time that we not only want to help them "build wealth” but also “live wealthy lives.” To really do that takes intentionality, prioritization, and as the guys share above, even in the best of times overcoming a little adversity.
Should You Buy the All-Time Highs?
July 8, 2021
We love this question because it highlights a number of opportunities to help investors reframe their thinking to make better choices by using facts not feelings, as well as better understanding what our role in their lives really is.
The Importance of Financial Independence for You, AND Those You Work With
July 2, 2021
In light of the upcoming 4th of July weekend, Tim and Jake walk through the importance of independence, whether that’s regarding the firm you choose to work with or the financial freedoms we all hope to find as investors.
We're Back!!
July 1, 2021
Time to celebrate with all of you who mean so much to us with a return to our beloved Quarterly Events. This July we also welcome to the party Matt Santangelo and some fellow Zags to talk all things basketball, including the Zags magic year, the return of Hoopfest, Spokane Hoopfest Association, and all the wonderful work that organization does, and Spokane officially becoming Hooptown USA.
It’s OK if you're Skeptical
June 24, 2021
Our process and client experience IS very different, and it’s not uncommon for some people to be hesitant at first. But it’s also very common that by the end people are expressing their excitement at their new found clarity and for finding a type of firm “they didn’t know existed."
We Want to See You
June 17, 2021
Our primary agenda with our new office is providing a space for good people to get together. We are so excited to see clients embracing their “clubhouse” and welcome any of you to reach out and find a time to come say hi. It’s a special place.
Is Inflation Forever?
June 10, 2021
As usual, the media oversimplifies things - while also using words/concepts most people don’t understand. What does transitory vs structural inflation even mean? And more importantly, what does it mean for things you want to buy?
The Pain of a Forty-Year High
June 3, 2021
Needing your money to compound isn’t just about retirement, it’s also about continually growing your purchasing power for the needs that may come up along the way – especially during inflationary times such as these.
Financial Freedom vs. Financial Independence
May 27, 2021
Define your financial goals in terms of what you’d like the independence to DO, as opposed to in terms of what you’d like freedom FROM. You’ll find many of the same activities feel very different depending on whether you view them as something you have to do, or choose to do.
The Impact of Culture
May 20, 2021
Lots of people say they value it, but what do they do to show it? It has been so exciting to see our team embrace the new space. Particularly, how that improved morale is resulting in incredible work with and for our clients.
Contentment vs. Peace of Mind
May 13, 2021
Mindset matters and contentment is a real place I’ve seen people achieve vs. “peace of mind” which often applies “perfection.” Contentment isn’t perfect or without any worry, but it is an achievable place where goals are realized and a lot of happiness can be found.
Emotions - Lessons Learned from a New Advisor
May 6, 2021
“Just because the math works, doesn’t always mean the plan will work” – that requires marrying the math with one’s emotions. The challenges may come in the form of market volatility, family needs or spending limits, but regardless they are better overcome with a good partner.
The Mis-prioritization of College
April 29, 2021
We all make many decisions on a gut level without a process. The problem with that is many “good” choices, may not be the “best” choice to help us live the lives we want both today and tomorrow. Do you not only understand your priorities but have you ranked them? Do you understand how to balance them to avoid “bankrupting” one of them? Don’t wait to be sure.
Battle of the Titans
April 22, 2021
Godzilla vs. Kong makes for better box office, but the battle between inflation, deflation, and how it will impact your life is worth “tuning” in to. Do you know where things stand? Do you know how to prepare your portfolio? These are the types of under the radar questions we make sure our clients are prepared for.
More Tax Basics With “Mr. Rogers”
April 15, 2021
TEN’s Jon Heideman addresses commonly asked questions around taxes ranging from when you may need a CPA to what you might be entitled to from the IRS.
Benefits of Tax Deductions vs. Tax Credits
April 8, 2021
A quote from the great Bill Murray is, “the best way to teach your kids about taxes is by eating 30% of their ice cream.” Though it is a good lesson for kids, the reality is there are ways to minimize your taxable liability through allowable deductions and credits in the tax code. Check out this week’s commentary about the terms and ways to help reduce tax exposure.
Relationship - As We See It
April 1, 2021
Some people ask "why are you willing to be so open with your clients and community?" There are many reasons, one is that so many clients become good friends, and another is so they know firsthand the ways that we can relate to the successes and struggles of life that we often walk with them through as well.
The Real Reason Growth is Critical
March 18, 2021
“Tangible” things like services, tech, and scale are all important byproducts of growth, but the real key but are the “intangibles.” A “growth mindset” leads to creativity, a genuine service mentality and desire to be great that then permeates all one does
What keeps you in-line?
March 11, 2021
Safeguards are smart for all of us, especially for emotional endeavors like investing. We have emotions too, but we have built processes and have a degree of accountability in the form of colleagues and clients that is key to keeping on track. Do you?
Avoiding the Emotional Pitfalls
March 4, 2021
Who are the people around you that are helping you thinking things through, holding you accountable, and challenging some of your positions to ensure you stay on track?
Perfect Effort vs. Perfect Outcomes
February 25, 2021
Don’t lose sleep, or beat yourself up too much, over things you cannot control like the market – especially if the “opportunity” would have meant abandoning your process and plan.
Don’t Fear Media Narratives
February 18, 2021
Be careful of letting media narratives, like all the talk of “bubbles”, lead you a false understanding. There is no real definition of bubble, it's a general term for a very diverse market and may or may not have anything to do with what you hold, your plan or your timeline. Keep the focus on your story
Regrets
February 11, 2021
Investing is tough enough, don’t lose time and energy on “could’ve, would’ve, should’ve.” Are you learning and evolving your process or simply lamenting not being able to predict the future?
No Easy Path to Success
February 4, 2021
There’s always a temptation to chase a get rich quick scheme (e.g. Gamestop) or panic (see last year’s market lows in March), but there are many “sneakier” emotional traps that can get you off track - acknowledge them and build a process to keep them at bay.
Starting With You
January 28, 2021
A number of years ago, our firm made a very conscious decision to formalize our long-standing focus on getting to know our clients into concrete steps in our planning process. While the industry continues to start with numbers and fit your story into those numbers, we start with you and work the numbers to empower your journey - its makes all the difference.
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