Winston Churchill once said, “The problems of victory are more agreeable than those of defeat, but they are no less difficult.” When President Elect Donald Trump takes the Oval Office in January of 2017, he will undoubtedly face the truth of those words spoken long ago.
It should come as no surprise that the newly elected President and a Republican Congress will attempt to correct perceived policy overreach by President Obama and the Democrats. But the new Administration would be wise to take a lesson from the recent past before it engages in policy overreach itself. There is no mandate. After a contentious election for the highest office in the world, anti-Trump protests provide evidence that a sharp political divide persists among many Americans.
Radical political positions distort reality and make it harder to understand an opposing point of view. At ASG, we value open mindedness. Dissention doesn’t have to be toxic. It paves the way for a broader understanding of complex issues. The Affordable Care Act isn’t right or wrong. It has strengths and weaknesses. It has supporters and critics. It is just as irresponsible for supporters to reject criticism as it is for critics to demand that the law be immediately replaced. Consensus building is hard and time will tell if Americans and their elected officials are up to the task.
ASG often finds itself at the intersection of politics and investing. The recent Department of Labor Fiduciary Rule regarding retirement accounts and investment advice now forces broker-dealer firms and insurance companies to adapt to the same standard of client care that we already provide. ASG was founded as a fee-only Registered Investment Advisor and we have been legally bound to place your interests first from the beginning. Our partner, TD Ameritrade Institutional will continue to provide you with monthly statements and other custodial services. Our Morningstar subscription provides you with trustworthy independent investment research and accurate performance reporting. Regardless of who occupies the White House, we will stay focused on transparency, low cost, high quality, and continuous improvement.
In politics, good intentions are given the benefit of the doubt. At ASG, we don’t stop with good intentions. We are committed to improved outcomes, especially when it comes to retirement readiness. As we inch closer to 2017, we urge you meet with us to make sure that your portfolio is well aligned with your goals.
Asset Strategies Group, LLC / an Independent Investment Advisor Firm