You ever get an invitation to attend a dinner at local steakhouse by a financial advisor?

Of course you have.  I get them myself.

In fact, I’m convinced Ruth’s Chris wouldn’t exist if not for these dinners.

You ever wonder the strategy behind them?  I mean let’s face it.  They’re not cheap for the advisor to host.

First, he pays about $5,000 to mail invitations to about 5,000 people.

He’s expecting about 20 couples to attend.

He’ll fork out another $2,000 to the restaurant.

That’s 7 grand all in.

So how does he pay for it?

He doesn’t. One couple out of those 20 will.

You see, advisors who do these dinners typically sell one type of product above all others.  And that product pays a commission high enough so that if one person buys it, it can pay seven times the cost of the dinner.

The goal of the dinner is not to show attendees the benefits of holistic planning to prepare for their future.

In many cases (no I can’t say all), it’s to sell a product.

Now, I’m not saying you shouldn’t attend.  Heck, Ruth’s Chris makes a great steak.  It tastes even better when it’s free.

But if the presentation discusses a strategy where you make the money rises but never lose money it drops, I want you to be skeptical.

I’m not even suggesting the product is bad.  In the right scenario, it can be quite effective.

But buying a product is not planning.  

Before you decide to attend the next steak dinner, let make a suggestion: Call me first. 

I won’t try to talk you out of attending.  Heck, I might attend myself.  

But I will give you a quick lesson in “advisor-speak” so that you don’t end up buying dinner for everyone.  

Call me at 513-563-PLAN (7526) or schedule on by clicking here.

Regards, 
Dan Cuprill, CFP®