Recently, I attended the Kansas City Air Show and witnessed the precision acrobatics of the Navy’s Blue Angels, a team of six intensely trained pilots performing incredible high-flying stunts. Marketing materials for the Blue Angles point out that the wing tips of the planes get as close as 18 inches, but one former pilot believes it is actually more like six inches. Wow, six inches at 500 miles per hour? Now that takes teamwork and focus!
As I wandered around the airshow looking for food, water, and a place to rest, I began to appreciate the planning and execution of the event itself. From the warm-up acts, like the stuntman helicopter pilot delighting the crowd with flawlessly performed barrel rolls, to the 36,000 horsepower jet engine-powered tractor trailer, it all takes immense coordination and precision.
As a financial planner, I also wondered about the finances of the air show. Why were the tickets relatively expensive and why did a small group of people pay up to $350 apiece for closer parking and access to executive bathrooms among other things? Was there that much added value in watching the show under a tent with incrementally better food and drink options but still no air conditioning? Well, there was for some.
I began to calculate some of the known expenses: probable air show consultant, payment to the aerial performers, the announcer, aircraft fuel, shuttle bus drivers, security teams, medical teams, portable toilets, etc. I imagine ticket prices would be much higher without corporate sponsorships and direct underwriting of some of the event’s expenses.
All of this got me thinking about how large and small businesses orchestrate their operations on a continuous timeline, instead of a two-day event, serving customers and clients in a way that exceeds expectations and provides value in making their lives better. It’s not likely that Foster Group will sponsor a major air show anytime soon. However, it is likely that Foster Group will continue to carry out its mission of providing financial solutions that reduce complexity and establish a high probability of success, all on a revenue model that maintains strict loyalty to clients and not a financial services underwriter. This is the fee-only advisory model.
Foster Group financial advisors are not known for performing at 10,000 feet, Reed Rinderknecht being the one exception; ask him sometime. On the other hand, we are known for caring for families, helping improve lives, and providing counsel for you and your family. We are catalysts for positive life change and, unlike static aircraft displays at a two-day event, we will continue our work tomorrow, next week, next month, and next year. If you have been thinking about hiring a fee-only, fiduciary financial advisor, we invite you to schedule an introductory meeting to begin your journey.