Mark Tibergien

Profit is Not a Dirty Word

By Mark Tibergien

In a recent article in Investment Advisor magazine (www.ia-mag.com), Mark Tibergien asserts that "Profit is Not a Dirty Word" (www.mossadams.com). Whether you scratched your head, disagreed, or let out a hearty "Amen" (which is what we at FocusPoint Solutions did), this column, like all of Mark's articles, is worthwhile reading.

"Over the years, I've seen way too many advisors avoid thinking about their practices as businesses," says Tibergien, "apparently under the misperception that such prurient matters would detract from their professionalism. However, the simple truth is that the best advice in the world isn't worth much if you don't stay in business to deliver it. In fact, as we've seen time and again, better-run practices provide the time and resources for advisors to serve their clients better. The bottom line is, after all, the bottom line."

Mark's comments so resonated with Brent Hicks founder of FocusPoint Solutions, that he immediately sent a note complimenting Mark on the article. Brent also sent his thoughts to the magazine's editor. His response, which was printed on the Letters to the Editor page, is presented for your consideration, below.

On the Money, Investment Advisor, June 2003 -  Mark Tibergien's May 2003 article, "Profit is Not a Dirty Word," was particularly good. "Treat your practice as a business" is a message that is sorely needed in our industry. I believe that many advisors do not treat their practice as businesses. There seems to be a movement by a vocal group of "ultra fiduciary starving idealists" (two terms coined by Bob Veres that I borrowed and combined) that completely ignores sound business practices in lieu of a misplaced sense of idealism or perceived professionalism. Tibergien's monthly column and the annual Moss Adams Financial Performance survey are fantastic tools for business-minded advisors who see that they can help their clients while also making a profit - and making a profit is not unethical. Tibergien's voice as an advocate for sound business practices brings a much-needed perspective.