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Information vs Expertise

Posted by Christin D. Hoyt | Mar 22, 2013 | 0 Comments

In 2013 information is easily available. The amazing resources of the web are accessible from our computer, tablets, phones and even our cars. If you have a question that needs an answer, there is no need to wait. You can find the answer anytime and anywhere. At parties, friends will talk about what they heard, what their advisor told them allowing them to declare what everyone else should do. Advisors of all stripes attend speeches and webinars to provide information on a dizzying array of subjects. The world seems to want to conform advisors to one stop shops who can advise on everything. However, upon reflection we all know that merely possessing more information should not be confused with having true expertise no more than owning an extensive library makes someone knowledgeable. And when your assets are at stake, you want and deserve an expert. Sometimes identifying who are true experts takes discernment.

We do not provide investment advice, prepare income tax returns, or do financial planning. We do not even practice law in all areas in which our law licenses would permit us to practice. We limit our practice to areas where our depth of knowledge and experience allows us to be different than the crowd. In our relationships with other qualified professionals, we defer to their expertise in areas where we don't practice, have expertise, or are licensed.

Our approach is not shared by everyone. We have had some clients who have had advisors who attempt to provide advice and services in virtually every area imaginable or who, without adequate credentials, criticize the plans and conclusions of other advisors as if they knew everything. But the old saying remains true, “Jack of all trades; master of none.” Be wary of the one stop shop!

Our philosophy is that clients are best served by a team of professionals, each with high levels of expertise that complement one another and can work for the best overall result for a client. We do not claim to be experts in preparing tax returns or crafting an effective investment strategy. Although clients often want our input in certain financial areas, we defer to true experts. The areas in which we do not have expertise is, in fact, a rather long list. What we do well is more defined. We are trusted business and wealth preservation counsel. Our advice in our areas of expertise go beyond information gained from one or two seminars. We are board certified attorneys with decades of experience in our respective areas of expertise, representing less than 10% of the entire state bar of Texas with such a designation. The results our clients experience is further evidence of our expertise.

We don't confuse a little information for true expertise. Neither should you.

About the Author

Christin D. Hoyt

Our Attorneys


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