Fat Doctors and Skinny Chefs

The saying "Never trust a fat doctor or a skinny chef" is all about credibility. Does a fat doctor practice healthy living? Does a skinny chef really eat the food they prepare? Truth is, maybe they do... but it can sometimes be hard to believe.

When a client asks "Do you own this investment?" I used to worry about how to respond. How much should I share with my clients about my family's financial situation? In one regard, I ask some very personal financial questions and I expect my clients to be open with me. Is quid pro quo reasonable?

I have decided it is not. At least not to the same degree. After all, I would be suspect of a doctor who does not ask me to undress in an effort to respect my privacy... but I do not want them to "show me theirs". But if the doctor is taking a similar medication, I am okay with them sharing their experience with on it.

So now when I am asked if I own a specific investment or insurance product, my response is honest but limited. If I do own it I will tell them, but I keep my specifics private. If I don't own it, I will again tell them and explain that my financial situation and their financial situation are different. The key to my advise has to be based on if I would own the recommended product if my situation was the same as theirs.

Photo on Flickr by davemorin