People, such as myself...tend to look at nicer things as a way of flashing how much money they are getting from their clients, which would be me.

I just got a raise/promotion at work, with a promisary comment that if I continue on the path that I am, I'll get a bump in salary, which I know I can do, and have no doubt that the company will follow through. I traded in my 370z for a base (1LT) corvette, and feel the corvette could send the wrong message if I drove it to work, even my Z got some attention from a lot of people at work - enough to where I wasn't comfortable driving it to work after then.

So, myself, I'm not telling anyone I don't have to...it could send the wrong message...

 

In a lot of ways you want to portray yourself in a way that relates to your clients.

Everyone is down right now...kind of like that Allstate commercial - where they show people watching a sports event in the garage, instead of at a sports-bar, that a car represents where we're going, instead of how far we've come (financially)...those kinds of things.

 

Personally I never use a financial advisor but if I did, I would only use one who drives a better car than me.

 

I agree..

 

I base my decision whether or not I'm gonna use a particular person or service based on their background, experience, and success, NOT for the car they drive.

 

I'm generally not too concerned with what other people think of me or my car but I realize in certain business scenarios perception can be an important consideration. Most people don't realize the average Corvette costs less than the family Suburban and gets excellent gas mileage. Despite the fact its just a Chevy and like it or not the 2-seat, high performance Corvette is perceived to be impractical and 'flashy.' Thankfully, I no longer have many rental properties properties (and I make some distinction between commercial and residential tenants) but whenever I meet with a tenant or prospective tenant I always 'dress down' with respect to the vehicle I drive. I don't want to give a tenant the impression I don't need the rent.

IMO the situation with a financial advisor would or could be a little different. Who is your clientele? I would think an established financial advisor deals with a fairly affluent clientele who expect their advisor to have achieved a certain level of personal success. For the most part I've dealt with the same financial services firm (brokerage) for 30+ years. I couldn't tell you what kind of car any of the financial advisors drive. In your profession I wouldn't worry about it...be self-assured...drive your Corvette to the office.

 

I've been in the same spot as the OP. I'm self employed and on occasion meet with my clients. Since my rates are on the higher end of my profession, I've also felt that it might be sending the wrong message to show up in my red Corvette convertible. Some clients might think it's cool, others might think the car is the reason my prices are too high. For most of my meetings I drive my nice looking work van.

I've been around long enough to learn " When in doubt....don't".

 

You live, You die, the second part is unknown. As for me; I will drive my vette anytime/anywhere I want to (or not). Sometimes you will have fun when you least expect it.

Bottom line: ENJOY, that's why you bought it? right.

PS: One thing that get's me are the people who buy a nice car and let it set most of the time, use it. The more you do the more the car will mean to you.

Take care (of it) and have a great day!

 

I somewhat agree. I deal with a lot of construction companies. If I am doing serious construction. Id rather hire the guy in a new F250 than a guy working about of the back of his 1989 Dakota with his phone # scribbled on he back window. sure the Dakota guy will cost less, but the F250 keeps getting work cause he does good work, even if it costs more.

 

Yepp!

I am in construction, I would not bring my Corvette to an estimate, occasionally I would bring my STS. But I have my trucks or another vehicle when visiting clients. All my trucks are newer and clean.


There used to be a commercial where this guy goes to work in the rain on a cold day, crowds on a bus, then a subway. He is wearing a dirty old wrinkled raincoat, disheveled hair. He gets to work, puts his sack lunch on his desk and proceeds to call his client, telling her what stock she should buy that particular day.

Thats not the financial advisor I want.

 

I too have been concerned about taking the vette to certain clients. When the conversation comes up, I tell people that I can't afford a vette...my priorities are just messed up a little. Over the past 1 year of being a vette owner, I have come to the conclusion that the only person that was concerned, about the image my vehicle may portray, was me.
Drive the Vette every chance you can.
I agree with many vette owners "I would rather have a road king than a garage queen".

 

 

Like AO's advice. I'm in the institutional bond mkts so we have relatively few cients, and they are national, so always on the other end of the phone.

But, you're on the retail end, and here's what I'd ask?

IS THERE ANY UPSIDE TO HAVING THEM SEE YOU IN A VETTE?

We know there's downside.

You do a lot of work to get to the point where you get a meeting with a prospect, and if driving your Vette deep-sixes 10-15% of those, it's just not worth it. And, this advice is coming from someone who has always used theirs as a DD,...20k/yr (CA).

PS Thanks to all who served

 

That's what a lot of Madoff's clients said.....

 

Knowing you drove a Vette would only enhance your image in my mind if I were one of your clients. At least I'd know you have taste

 

Too bad the commercial didn't show the poor slobs mansion in the nice part of town and the multi-million dollar bank accounts

 

I think a Corvette portrays you as a successful person. I'd rather do business with someone who is successful then someone who is not. Bottom line, you're not going to please everyone no matter what you do.

 

As I'm reading thru the posts, there's a lot of people not in the business of selling financial advice, so I'm not sure they understand.

Even if you successfully court a prospect, and you are managing their money for 3 years, and then BOOM, the bottom drops out of the market, which obviously NO ONE CAN PREDICT, you know who's going to get blamed.

"That damn financial advisor, I'll bet he still has that 'fancy' car, and we lost 30% of our savings",...

Oh, btw, just advice from a bond guy, who only deals with bond managers who manage 10 billion an up for corporate pension funds; please do not get swayed by your firm's commission structure to put older people (like above 70, who had less than $1 million) to put to much in stocks. A financial advisor gave my friend advice for his parents to put 50% of their $600k saving in stocks (he earned 1.2% on equities, and .75% on bond, mutual funds, of total assets, respectively).

George's parents were 77 at the time, and $600k is really only enough for emergencies they might face. I offered to advise him for free (I'm not in the retail market, anyway). Had them in Vanguard Short-term Investment Grade Bonds (less than a 2.5 year duration/maturity, and at time of high corporate/credit risk, told my friend to get them into the money market fund).

They started out with $600k and now have $730k, and NO LOSS years. And, just as importantly, they slept well when the DOW went from 1600 to 1200, then under 700 last year.

For any readers, Vanguard charges .20 to .25 basis points ($200-250/yr on every $100k as a management fee, and NO LOADS, or upfront sales commissions). Bonds are not that hard to learn for yourselves, so you don't need to pay someone to do that portion of your portfolio for you.

Sorry, to the OP, but I'm sure none of your clients are reading this, and we're in a 3 to 4% 10 yr treasury note environment,...will be for awhile, and anyone with less the $1 million in retirement doesn't need to give 20 to 25% of their investment income away every year,...it adds up.

 

If you are concerned about this, drive what your clients drive.... if your client base is middle income folks, find a five year old sedan to drive to work.

 

While I think that you are incorrect in both your comments on air filters and "waste of a car", I can agree with you on you love of sport bikes! I am getting to old to ride like I used to, the Vette is as close as I can safely do anymore for fun. I used to race at Willow Springs so I know that bikes are the real deal for talent and danger. I live in Southern Ca and the Vette is fun EVERY time that I take it out. I am a regional sales manager and I love driving the car. To each his own.