I don’t watch a lot of financial TV but a couple weeks ago,
an economist I respect was on one of the two major financial networks. I tuned-in a few minutes early.
While I was waiting, the channel ran four commercials from:
a) A
reverse-mortgage lender,
b) A
delinquent-tax negotiator,
c) A
time-share liquidator and
d) Someone
selling electronic patches for back pain.
I’m no marketing genius but I’d say the advertisers were
targeting people who can’t pay their bills, can’t pay their taxes, make poor
real estate choices and/or have sore backs.
That’s no accident.
Networks design content to target the customers their advertisers want
to reach. Time is not on their customers’
side. You need to turn a quick profit or
dump assets when the IRS is breathing down your neck.
I hope my clients don’t use those products …
… except maybe for the back-patches. We’re not as young as we used to be.
Our objective is to patiently own investments that mature in
the fullness of time. Time has a habit
of smoothing the bumps.
Almost everyone is forgiven.
Viewers are hoping to learn something that improves their lives. Advertisers and stations have the right to
sell their wares. My economist showcased
his firm’s services to a national audience.
But I’m on shaky ground.
If an idea I got here blew-up in my face, there would be nobody but Skip
to blame. My clients would rightly think
so.
So when you watch financial TV, if the ads are for products
you pray you’ll never need, remember who the content is for.
Ah! My back feels
better already! Sh
The opinions expressed here are those of Skip Helms and do not
necessarily reflect those of LPL Financial or anyone else. Investing involves
risks, including the loss of principal. Past performance does not guarantee
future results. Please consider potential transactions carefully and read all
appropriate materials before investing or sending money. Securities offered
through LPL Financial, Member FINRA/SIPC
