When to Trust the Recipe and When to Adjust the Seasoning
Jim once told me, “We’re not McDonald’s.”
We don’t produce the same cookie-cutter outcome for every client, every time. There’s no assembly line, no pre-packaged solution, no “one-size-fits-all” financial plan wrapped in familiar branding. And honestly, that’s exactly how it should be.
Every client is different. Every story is different. Every set of hopes, fears, and tradeoffs is unique. Good planning starts with understanding where someone is, right now, and meeting them there.
The Human Side of Money
Over the past three years, we’ve leaned into that belief more deeply by adopting tools from Money Quotient. These tools have helped us explore something that’s often overlooked in financial planning . . . the human side of money.
Not just the numbers. Not just the projections. But the meaning.
Money, as many of you know, is rarely just about money.
It’s about security. It’s about identity. It’s about freedom, fear, generosity, control, and sometimes even regret.
Money conversations can be intense.
These are not casual conversations. They require care, patience, and awareness.
Which brings us back to the kitchen.
Every Great Chef Knows…
A great chef doesn’t approach every dish the same way.
Sometimes, the recipe is followed exactly as written; measured carefully, executed with discipline, trusted because it has stood the test of time.
Other times? The chef tastes, pauses, and adjusts.
A pinch more salt here. A little more heat there. A completely different approach, if the moment calls for it.
The art of great cooking isn’t just knowing the recipe. It’s knowing when to honor it—and when to adapt it.
Financial planning works the same way.
Right-Sizing the Conversation
Through our work and through tools like Money Quotient we’ve come to appreciate that not every client needs the same depth or intensity of conversation at the same time.
Some clients are ready to dive deeply into the emotional undercurrents of money. They want to explore values, purpose, and legacy in a meaningful way.
Others? They may just need clarity, structure, and a path forward without unpacking every layer right away.
Neither approach is right or wrong.
The key is knowing how to “right-size” the conversation—to meet each client exactly where they are, without forcing a script or skipping ahead too quickly.
Because, just like in a restaurant, not every guest walks in and orders the same meal.
But There Are Times for Discipline
If that were the whole story, though, we’d be missing something important.
Because while there are moments to adjust the seasoning, there are also moments to stick to the recipe with conviction.
A recent example that’s been top of mind is the excitement around the IPO of SpaceX.
There’s energy. There’s hype. There’s a sense of “this is something big; we should be part of it.”
And yet, this is where discipline matters most.
We partner with Dimensional Fund Advisors, whose investment approach is grounded in decades of academic research and evidence. When evaluating opportunities like IPOs, they don’t react to headlines. They evaluate.
They consider expected returns, diversification benefits, strategy alignment, company fundamentals, governance structures, and pricing dynamics. They also account for IPO-specific realities: allocation inefficiencies, underwriter support, and lock-up periods. All of which can distort pricing in the early stages.
And perhaps most importantly, the historical evidence tells a consistent story: IPOs, on average, tend to underperform in their first year.
So even if a company like SpaceX is widely anticipated, and even if it’s included in an index that doesn’t automatically make it a meaningful or necessary addition to your portfolio.
Sometimes, the most valuable decision isn’t to act.
It’s to stay the course.
The Balance That Matters Most
This is the balance we strive for every day:
- The flexibility to adjust the recipe when a client’s life, values, or circumstances call for it
- The discipline to follow a time-tested framework when the evidence is clear
It’s both art and science.
Both intuition and rigor.
Both listening deeply and standing firm when it matters most.
The Bottom Line
Sometimes we refine the recipe. Sometimes we adjust the seasoning. Occasionally, we even rethink the dish entirely.
But other times especially when it comes to long-term investing, we trust the recipe exactly as it has been written, tested, and proven over decades.
Because real value isn’t found in constant change. And it isn’t found in rigid adherence either.
It’s found in knowing the difference.
And helping each client navigate that difference with clarity, confidence, and care.