Wealth Management Principles with David Bahnsen | Summary and Q&A

TL;DR

David Bonson discusses his focus on traditional wealth management principles and the importance of content creation in building connections with clients.

Key Insights

• ✡️ David Bonson focuses on the enduring aspects of wealth management rather than being swayed by the changes brought about by COVID-19.
• 😚 He emphasizes the importance of building intimate and close relationships with clients.
• 💯 While recognizing the value of crypto and digital advancements, Bonson prioritizes the core building blocks of portfolios and client experiences.
• 🐵 Meeting clients face to face and creating content have been key factors in his firm's growth during the pandemic.
• 🏛️ The ability to communicate a distinct perspective in various mediums has helped them build connections with their audience.
• 👻 Bonson's preferred medium is books, as he believes they provide a deeper understanding and allow for philosophical exploration.
• 💦 His upcoming book aims to provide economic truths and a philosophical foundation for those working in finance.

Transcript

hi i'm leanna hawkins and welcome to the salt sideline report we are here today at salt new york with david bonson the founder and cio of the bonsang group welcome david well thank you for having me so you are going to be speaking on a panel this year on modern wealth management and you're somewhat of a contrarian in the space tell us what your tak... Read More

Questions & Answers

Q: What is David Bonson's perspective on the changes in wealth management due to COVID-19?

David Bonson believes that while there is a lot of focus on changes brought about by COVID-19, it is important to recognize the aspects of wealth management that have remained constant. He emphasizes the significance of maintaining intimate and close relationships with clients.

Q: How has David Bonson's firm grown in recent years despite the pandemic?

David Bonson attributes the growth of his firm to a combination of meeting clients face to face and creating content. By having a distinct point of view in politics, economics, and markets, they were able to build connections with like-minded individuals.

Q: What is David Bonson's preferred medium for reaching potential clients?

David Bonson mentions that he is an old school book reader and writer. However, he recognizes the value of various mediums such as podcasts, videos, blogs, social media, and more. Regardless of the medium, the aim is to communicate their beliefs and perspectives effectively.

Q: What is the title of David Bonson's upcoming book and why is he excited about it?

David Bonson's upcoming book is titled "There's No Free Lunch: 250 Economic Truths." He is excited about this book as he believes that a strong economic foundation and philosophical grounding are important for people working in finance. The book aims to reinforce a philosophy of free enterprise.

Summary & Key Takeaways

• David Bonson emphasizes the importance of focusing on what hasn't changed in wealth management rather than obsessing over the changes brought about by COVID-19.

• He believes that the relationship aspect of wealth management is evergreen and that clients value intimate and close relationships with their advisors.

• While recognizing the importance of crypto and digital advancements, Bonson maintains a focus on the core building blocks of portfolios and client experiences.