I think we all know the name Bernie Madoff. What we don’t know is how his actions have influenced how ordinary people interact with their financial advisors. But I rarely have a conversation with a prospective client anymore that isn’t influenced by Madoff.

Many individuals begin an interaction with a financial advisor as a result of referrals, either by professionals or by family and friends. But as a result of Madoff, fewer people are asking friends for advice. It was Bernie’s friends who got hammered along with everyone else, so maybe your friend’s aren’t a good source for intelligent and timely advice. Trust is harder to come by these days.

In addition to Madoff, there have been lots of other scandals in recent years. A Ponzi indictment here, a Ponzi scheme there, and pretty soon you begin to wonder whether anyone is legit. OK, the bank is only paying 2% but I know my money will be there when I need it. Only it probably won’t buy what it will today because I have to believe taxes and inflation will be more than 2% per year going forward.

So, you have to do something other than put it under the mattress. But what? How and where do you find solutions? Since you cannot assume honesty and good intentions, how do you find that person or organization to help?

At some point you realize you have to make a decision, since you can never have all the necessary information. As a professional advisor, I’m interested in helping you find a comfortable home for your money. If you want to do all of it yourself, I’ll help you find as many answers as possible. If you want help, perhaps you’ll include our firm as among those you think of as friends and advisors. Life is too short to be staying awake at night with uncertainty. I know it is for me.