The Spendthrift Client

The movie industry does not make Financial Advisors the center of their plots often because when we do our jobs right, we are dull.  We avoid thrills and chills like the plague.  Our jobs never involve car chases and we avoid gunfights.  The long-term fiduciary relationship that ethical advisors cultivate with their clients doesn’t exactly make for the kind of conflict-driven drama that audiences hunger for.

But we recently found an old movie clip that we found mildly amusing.  The 1971 comedy A New Leaf involves a spendthrift heir, played by Walter Matthau who asks his financial advisor to cash a $6,000 check to pay his club dues.  The advisor tries to explain that Matthau has exhausted not just his income but his capital. “I can’t cover the check,” says the advisor, played by William Redfield, “because the check is for $6,000, and you don’t have $6,000. In other words, you don’t have $60.”  “Come to the point,” says Matthau.  “The point,” says Redfield, “is that you don’t have any money. The capital and the income are exhausted and you no longer have any money. I wish there were some other way I could say it.”

http://moneyrunner.blogspot.com/2013/08/walter-matthau-in-new-leaf.html

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