I rediscovered an important lesson last year just before my speaking engagement at the annual fi360 Conference. After being greeted by scores of satisfied readers, I was surprised to learn very few of them intended to attend my presentation. As the conversation continued, I casually let it be known that, not only do I report on fiduciary matters, I actually work in the field. Indeed, I've had my own firm for 15 years and for 15 years before that I worked for another major firm. With that, my readers looked at me in shock, as if I'd crossed some line.
"You actually work in this business," said one such reader. I nodded reluctantly, not knowing what to expect. "Then," she continued, "you not only know how to write, but you really know what you're writing about! Maybe I will attend your presentation after all."
There, in a nutshell, lies the common problem. People like good writing, but they don't trust the media. Prior to admitting I owned my own investment advisor, ran my own proprietary mutual funds, and have been offering 401(k) fiduciary consulting services for more than a decade, people just assumed I was a member of the media. That was fine with me. I was trying my best to be viewed that way. I didn't want people to think I was just another industry hack trying to promote his own wares.
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