MTA, the New MBFA
- Massively Transformative Aggregation is replacing Manual Brute Force Aggregation.
- Now a great many people, not just a select few at the top, have the ability to change the world.
- When it comes to wealth and your relationship with your advisors, you may want a transformative experience and the ability to have a life of meaning, value and purpose.
When I started in this business back in 1986, an advisor who knew about my computer programming background asked me when I thought all the new technology could be integrated with all of the financial information in people’s lives. I thought it would take many decades, and probably not happen in my lifetime. Well, fast-forward 30 years and it has already happened. It reminds me of the 1970s computer game Pong, in which you moved a tiny cursor-shaped ball back and forth on a crude console screen. Compare that to virtual reality (VR) today. Everything is in super-high resolution now and it’s just an unbelievable experience.
Let’s go back 15 years. We had about 200 banking institutions and they gave you just a snapshot of people’s accounts. Now there are over 12,000 of them and they’re providing complete financial detail. All of your credit card information and details are now available to marketers. You receive highly targeted ads whenever you log on to the internet. The world has changed tremendously since I started in this business.
Are you familiar with MBFA? It refers to Manual Brute Force Aggregation. That’s what we’ve been doing for 30 years. How about MTA (Massively Transformative Aggregation)? That’s what big data is doing today. It’s giving many, many people, not just a select few, the ability to change the world. How does this affect you and your wealth?
First, you want things simple and clear, and you want to have a lot of confidence. Next, you want to make sure you can look at past, present and future scenarios very easily. Finally, you want to make sure you have clear direction and a great relationship with your advisor. You also want to make sure your advisor continues to develop new capabilities to serve you better.
How do you want to spend your time around your wealth?
If you’re like me, you want to have transformative experiences—experiences that really make a difference. You still have to have the basics—good investment management, cash flow analysis and prudent advice about your taxes, your estate and your risk management. All these things are very important because they make up who you are.
What’s the result that you’re really looking for?
You want to plan for as many future scenarios as you can—both the good and the bad. You want to enjoy your wealth as you go along and eventually pass it on to the next generation. You’re also looking for what I call MVP (Meaning, Value and Purpose). There are many components to MVP, but if nothing else, you want to have your individual needs and wants satisfied.
With MTA, all this work now becomes much simpler and you can spend more time on things that are important to you and less time playing Pong with your life.
Until next time, enjoy.
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