This morning there was an advertisement from CancerCenter.com, that included the following disclaimer:
No case is typical.
You should not expect to experience these results.
It occurred to me that such a statement might be an appropriate inclusion in any presentation of past performance results, be they in compliance with the Universal Advisor Performance Standards (UAPS), the Global Investment Performance Standards (GIPS(R)), or simply reporting that complies with no standard to a prospective client.
It's a fact, is it not? There are no "typical" cases. We have averages, but often even the averages don't represent any account in particular, but rather represent the blending of accounts.
What do you think? Should this be a required statement? Would it add to the presentation or better serve the prospect?
.png)
I'd also add "Don't stick a pencil in your ear."
ReplyDeleteYou have to assume a modicum of intelligence and sophistication....plus is it not standard to have "past performance is no indication of future performance" or similar?
Herb, thanks for your response (I think!). The "past performance" is one thing; the suggestion that it might be typical is a different one. Perhaps yet another disclosure isn't warranted; just thought I'd toss this out to see what the response would be, and appreciate yours!
ReplyDelete