Doing the right thing

I’m currently reading “Liar’s Poker” by Michael Lewis. It’s a great look into the 1980s Wall Street world where all the stereotypes were largely born. The book is a somewhat comical view into what happens when there’s a lot of money to be made for the firm and their wallets by taking advantage of their clients. It was a time where not only ethical codes were broken but these firms likely would fall in today’s definition of fraud.

Of course, these Wall Street firms created millionaires of young employees who were okay with navigating the grey and slinging shit products to their clients. I’d be lying if a lot of that was not still happening today. While we’ve gone a long ways since the days of Solomon Brothers in the 1980s, we’re still in a world where money talks. Many will still break ethical obligations in order for short term profit. Despite maybe not being as cutthroat as Wall Street, I’ve heard some horror stories in our world of private company stock.

At Secfi, we operate in a world that is different than the world that Solomon Brothers operates in, but there are still similarities. Our clients are not just large investment firms like Solomon Brothers deals with, but also retail individuals. Our clients trust us to help make the best decisions for them and to provide the best products. That adds an extra element where we need to be extra careful.

One of the big things that has never changed since we started Secfi is that we will always do the right thing for our clients. We’ve gone to great lengths to ensure that. Of course, policies and handbooks exist at Secfi, but we make sure to talk about and celebrate when we do the right thing for our clients, even if it jeopardizes a deal. Culture is what you do, not what you say you do.

It’s not always easy though. We’re in the business of financial services and we make money by selling financial services. Often times, our products aren’t the best fit for a client. Telling them not to do something or sending them to a competitor obviously may hurt short term profits. But that is a trade off we’re always willing to make.

Doing the right thing is always the answer.