“People get ready, there’s a change a comin’”
— Curtis Mayfield
In 1988, MONY Securities in Atlanta invited me to speak at a conference. The president of the company insisted I read an obscure book by John Watts, “The Financial Services Shockwave: Survival Tactics for Wall Street and Main Street.”
A great book in its era, Watts made predictions about how technology would change the financial world.
Some were right, some were wrong. But his best was the vision that financial advisors would someday communicate with their clients via video conferencing.
This was decades before Skype. It was at least a decade before widespread use of the Internet
Watts had an idea that I thought would revolutionize the financial services industry.
His idea seemed far-fetched and way off in the future. As former Washington Redskins coach George Allen used to say, “The future is now.”
When I read “The Financial Services Shockwave” 23 years ago, I immediately grasped how Watt’s idea would help my business.
I live in Central Kentucky. Many of the attorneys and claims professionals I work with are in places such as Washington, D.C., or New York City. It’s expensive and time consuming to visit them.
I also do business in a lot of small towns, such as Glasgow, Ky., and Terre Haute, Ind.
You can’t just hop on a commercial plane and go to Glasgow in Kentucky. When I drive to see someone in one of those cities, it’s the only place I can be that day.
As the Spinal Tap said, “It’s a great big world and there’s only one of me.”
My expertise is in obscure financial topics, such as structured settlements, qualified settlement funds and special needs planning. I realized that improved communications would open large new markets.