In this final installment of the OIC Advisor White Paper, “Tales From the Front,” we take a look at it conclusion called, THE LAST WORD.
Despite what has been a challenging period, the advisors who participated in the panel all seemed confident. Most had seen their practices grow significantly in recent years. All spoke with enthusiasm about the direction their practices were going and encouragingly about the benefits of adding options to a practice.
On a final note…
- ?I think the most important thing for advisors to do is take the time to understand all the pros and cons, the risks and rewards, of every different option strategy. I use collars a lot, and there are pros and cons to using the collar. The con is, I?m restricting a client?s upside and the client may not want a restricted upside. So you have to understand the strategy that you?re using, and you need to go to some classes. OIC has some really good classes, you can pretty much learn anything online, and through books?you know 14 years later I still buy books on options. I watch OPTIONS ACTION every Friday.
- ?I?m thrilled that everybody?s not doing options because it sets me apart but for the life of me, I don?t understand how everybody in my business doesn?t manage risk by using options. I don?t know what they?re thinking.?
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