Preview Mode Links will not work in preview mode

15015 Jamestown Boulevard, Suite 100, Baton Rouge, LA 70810. 

Advisors of Horizon are Registered Representatives of Cetera Advisors LLC, a broker/dealer and Registered Investment Adviser.

Jan 29, 2020

This episode of The Confident Advisor Practice Podcast with Bill Bush and Chad Soileau expands upon three common financial terms and applies them to managing your practice: diversification, allocation, and re-balancing. Learn what they mean to you as a business owner, how they can improve your practice management, and the ways in which they will focus the way you are using your time.

 

 

Episode Highlights:

 

  • 00:55 – Bill Bush and Chad Soileau introduce the topic of applying the financial

             terms diversify, allocate, and rebalance to managing their practice.

  • 02:37 – What is diversification and how does it apply to your focases and your

             activities?

  • 04:40 – Make sure you have enough diversification for what you are focusing on.
  • 05:34 – View your allocation in terms of prioritizing your energy, resources and time

             to areas of importance.

  • 07:20 – Rebalancing is important to reconfigure your actions to match your intent.
  • 09:05 – Toggl.com is a tool used at Horizon that keeps track of what you are

             doing.

 

3 Key Points:

  1. Diversification is a risk management strategy that mixes a wide variety of investments in a particular portfolio.
  2. Allocation is how you are applying your time, resources, and energy into your areas of improvement.
  3. Rebalancing is a great way to start a business year to look back at the previous year to see where improvement is needed.

 

Tweetable Quotes:

  • “Look at where your focuses were. Was I very diversified in my thoughts? Was I very diversified in my actions? Was I over-diversified in what I did? Was I under-diversified in what I did?” – Chad Soileau.
  • “Anytime you focus more on one particular area of your business, well then something else inevitably is going to fall behind.” – Chad Soileau.
  • “Certain asset classes are going to get overweighed and it is not where you originally started and you have to ask yourself, ‘Do I want it to continue being that way because this is working for us right now?” – Chad Soileau.

 

 

Resources Mentioned: