Recently I have met with three prospective clients, all from different walks of life and demographics, all with the same problem.  Their current planner (not me) has all of their accounts invested the exact same way. In other words, they each had the same few ETFs, stocks, or mutual funds in different combinations.  It did not matter if I was looking at an IRA statement, an individual account, or one held in trust.  All of these accounts were invested using the exact same stocks, exchange traded funds, or open end mutual funds.  Considering there are literally tens of thousands of investments out there, I found this hard to believe.

As a rule, I look at each client differently.  That’s one of the things people pay me for.  No two investors have the exact same goals, savings, or time horizons.  Each person’s knowledge, temperament, and time available to manage their investments are different.  Likewise, an investor might have an IRA, a 529 college savings plan, and an account that is jointly held with someone else.  Each of these accounts serves a different purpose and should not be invested in the exact same manner.

We do not live in a “cookie cutter” world.  I do not invest in a “cookie cutter” fashion.  You account should not be managed that way either