This long Labor Day weekend which has just passed gave us pause for a moment to reflect on some new directions, and one that we will be writing about soon is digital currencies and the Euro. We have some theories about what may be in store there in the future.
However, in the meantime, we saw a headline today that grabbed our attention and caused us to pause for a moment. Wealthmanagement.com has published an article entitled “How to Handle Couples Who Fight”. Indeed, they make the (well known) point that many marriages have communication issues when it comes to money matters.
I thought they had some really great advice for investment advisors on how to mitigate arguments between spouses over finances, and one even involved looking into the resources from the Financial Therapy Association or doing meditation. Ommmmmm. And this got us to thinking about the feedback on a recent piece we ran in a family office forum on Linkedin – “Millennials & The Family Office Dilemma“. Turns out it created quite a stir about whether millennials wanted human interaction – or wanted to rely on technology first – for financial matters, and the differences of opinion were very much related to the age of the participant, and rather heated as well.
Our personal opinion is that the new robos and financial apps obviously CANNOT mitigate family argments about wealth management the way a human investment advisor can. Is that a good thing or bad thing? Doesn’t really matter, does it, because they’re already here. As I like to say, the genie’s out of the bottle, folks. Anyway, check out the article – an interesting read.