Famous Chefs and Advisors

My wife is such an amazing cook I often joke I have to exercise often, or I would gain far too much weight!    She is in her element in the kitchen and consumes every cooking show and recipe book available.    I’ve often found using examples with prospects and clients of parallel universes can help connect and communicate concepts effectively.   With that in mind, I wonder what famous chefs and advisors have in common? 

The best chefs I’ve savored meals from revealed a combination of patient dedication, attention to details in their process, and recipes, all topped off with a very personal touch:  A pinch of this, a dash of that all adding to their special secret sauce.  Carefully selected food combinations provide exhilarating taste journeys.  Goals are established providing sensory experiences across every spectrum.   An awareness of dietary restrictions or taste desires is even necessary.   They marshal their team of sous-chefs, meal servers, and bartenders seeking a well-remembered dining experience.   I perceive many interesting parallels with dispensing wealth advice!       

Clients self-select advisors based upon their own desires and goals as diners select restaurants based upon favored chefs, menu styles, and service levels. 

Clients connect with firms and their team relative to first impressions of their attention to them personally, strategies/approaches, processes, and overall feel.  Active vs. passive or aggressive/conservative (too spicey or not enough?), risk tolerances (dietary restrictions or anything goes?).  Does the firm specialize in investment strategies or invest broadly in all asset classes (one food style or multiple cuisine menu?).   Highly customized portfolio or more modeled portfolios where a few styles fit many or high touch wealth advisory services (Multi-Family Office ala carte service menu) or more utilitarian in services (high dining/white table cloth or food truck?).

Whether a firm or restaurant, I know for myself that in the end, it’s the human side of the services delivered and my personalized experience which makes the most difference.   The chef, or in wealth firms, the advisor, ultimately sets the tone and leads the results of the overall experience towards success or potential failure. 

Selecting advisors who represent your firm to prospects and ultimately clients can be one of the most difficult and critical decisions when adding to your firm.