"A man's GOT to know his limitations." Inspector Harry Calahan
Different characters in different times, but knowing one's limitation is wise advice.
Too often, success in one area seduces us to believe if someone is "good" at one thing, they are likely good at others. That is seldom the case and usually results is less than optimum results. Economists refer to this as the Halo Effect and it can greatly influence the economics of yacht ownership.
For good results over the long term, good yacht brokers and good professional advisors of all types have to know their limitations.
Likewise, good clients recognize the limitations of their brokers' and advisors'.
Good yacht brokers and advisors are not afraid to tell their clients "no"when their clients ask them to venture beyond their areas of competence. They are not afraid to defer to others when necessary.
They do not put their pride or ego ahead of the interests of their clients. They are not afraid of losing commissions or fees or even clients for that matter.
They know where their expertise ends.
They know what they can and can't do well.
They get "it" when others don't.
They are leaders and not followers.
They look for new ways to help their clients.
They put clients' interests ahead of their own.
They realize clients don't tell them everything.
They welcome new ideas that benefit clients.
They know they can't be all things to all clients.
They don't prejudge what their client may or may not like, just because their client has never expressed an interest before.
Good brokers and professional advisors are not that difficult to find. We know many in many disciplines, way too many to name them all. We can help you find good brokers and advisors and especially those with specialized industry expertise if and when needed.
But even with the best brokers and advisors on your team, maintaining good client / advisor relationships over the long term can be a challenge.
One of the problems with conventional yacht ownership is that in the passion and excitement of closing the deal, too often, emotions rule. The buyer and the broker want to close the transaction as soon as possible for the optimum price – which often later leads to remorse, regret, unnecessary costs, and expenses – and an overall negative long term experience.
That's one area where we can often help. Our unique skills allow advisors to focus on what they do best and allow the client's team of advisors to function more effectively - less expense and more productively.
Our ability to provide proprietary programs and customized, comprehensive & coordinated solutions for the unique economic and financial objectives of each individual yacht owner – enables us to offer substantial long-term value to yacht owners - long after the enthusiasm of the initial yacht transaction has waned.
That if your current advisors knew, surely they'd have told you already- wouldn't they?