Don’t Ask This Question When Hiring a Financial Advisor

Damien (not his real name, of course) came into our office.

And I could tell from the start—he came in begrudgingly.

He had made a commitment to visit us after attending one of our live events in the local community. He came for the free dinner, but then accepted our invitation for a second opinion. Out of respect, he followed through on that commitment.

When we sat down, he said,

“I already have three financial advisors, and I’m not sure I want or need a fourth. But you offered the second opinion, so I’m taking you up on it.”

I replied,

“That’s exactly why we offer this opportunity—and I’m glad you still came.”

It turned into a pleasant conversation. But as we got deeper into the visit, he asked one of those questions that—if I’m honest—makes me cringe every time I hear it.

It’s a question I’ve been asked more than once. And while it might seem harmless, it reveals a mindset that runs counter to what we believe at SWAN Capital. It points to an old-school investing behavior that leads to confusion and diluted results.

He asked:

“Andrew, what’s the least I have to invest here to become a client?”

Now, at SWAN Capital, we’re very clear:
We manage 100% of our clients’ assets.
And it’s not because we’re being selfish. It’s because we’ve seen what happens when you try to do it any other way.

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Why We Don’t Play the “Racehorse” Game

Success leaves clues. And if you study the wealthiest families in history—from the Rockefellers to the Vanderbilts—you’ll find a powerful pattern.

Many of them pioneered what we call family offices: firms designed to serve a single family, unifying estate planning, tax planning, and investment management under one roof.

Of course, most families can’t afford to pay the six- or seven-figure cost of building a family office from scratch.

That’s why we built SWAN Capital as a mini family office—to offer that level of coordination without the generational wealth requirement. We have a CPA, financial planner, and estate planner under one roof, working together to serve families that we truly love to work with.

Now back to Damien’s question.

It was sincere.
But then he added something that sealed the deal for me—that we weren’t going to be a good fit for one another.

He said,

“I have $500,000 with each of those firms, and I guess I’d be willing to put another $500,000 on another racehorse to see who would do better.”

I chuckled and leaned back in my chair.
And I said,

“Damien, I’m not going to be your racehorse. That’s not how we do things here at SWAN Capital.”

He looked shocked—almost insulted.

“How come?” he asked.

Here’s what I told him.

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Why We Ask for All-In Commitment

1. Carnegie’s Advice Still Holds Up

Andrew Carnegie, one of those “success leaves clues” families, once said:

“Put all your eggs in one basket—and then watch that basket like a hawk.”

When you hire multiple advisors to “see who performs best,” you can’t even tell what’s actually working—or what’s canceling each other out.

2. Skin in the Game = Focus

When people only invest the minimum, they tend not to pay attention. But when they commit significantly, they’re far more engaged.

It reminds me of a funny—and surprisingly telling—story.

Two men are at a urinal. One of them accidentally pulls a $5 bill out of his pocket, and it falls into the urinal. The man chuckles… but then, to the other man’s shock, he pulls out a $50 bill and throws that in too.

“Why did you just do that?” the other man asks, stunned.
“Because,” he replies, “there’s no way I was reaching in there for just $5.”

It’s human nature: we protect what we value, and we pay attention to what we’ve committed to.

3. Commitment Creates Mastermind Results

When two people are fully committed, something powerful happens.

Napoleon Hill described it best in Think & Grow Rich, where he wrote:

“No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.”

That’s the Mastermind Principle—and it’s exactly what we seek to create with our clients: a synergy of focus and strategy that can’t happen when advice is fragmented or halfway trusted.

4. Unified Planning Simplifies Everything

I keep all of my own investments—and my banking—with one institution. Why?
Because it makes tracking, tax reporting, and investment strategy far simpler and more efficient.

5. Diversification Leads to Distraction

As a financial advisor, I’m not exempt from this. Studies show that financial advisors often underperform in their personal portfolios—not because they lack knowledge, but because they’re constantly looking at the markets, experimenting with new strategies, and second-guessing themselves. That’s why all of my investments are in SWAN portfolios.
I trust our disciplined process, and I want to stay focused on my day job—serving clients.

6. Overlap Creates Inefficiencies

Let’s say one of your advisors is buying Google and another is selling it. What happens?
You cancel out the trades—but still pay the fees.
Multiply that across a thousand holdings, and you’re building inefficiencies into your plan without realizing it.

7. The Prescription Problem

If two doctors each give you a prescription, the best case is they cancel each other out.
The worst case? The combination is toxic.
The same thing happens when two financial advisors—who don’t speak to each other—give you conflicting advice.

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So What Should You Ask Instead?

Instead of asking:

“What’s the least I have to invest?”

Ask:

“What kind of relationship do I want with my financial advisor?”
“Do I want clarity—or competing opinions?”
“Am I ready to go all in with someone I trust?”

You deserve one advisor who sees the whole picture and helps coordinate your financial, tax, and estate strategies.

And if that person isn’t us—find the right one anyway.
Because divided loyalties lead to divided results.

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Covering Our Tail Feathers

This material has been provided for informational purposes only and is not intended to provide any specific tax or legal advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that SWAN Capital and its representatives do not give legal or tax advice. Be sure to speak with qualified professionals before making any decisions about your personal situation.

Please recognize that Andrew McNair is very selective in accepting clients. While we are happy to visit with you to discuss your circumstances, that does not mean you are necessarily the right “fit” for our company, just like we may or may not be the right “fit” for you.

Investment advisory services offered through SWAN Capital. Investing involves risk, including the potential loss of principal.