Because clients are dealing with live animals rather than a product line of some sort, emotional issues often come into play.
“We have to be part financial advisor, part psychiatrist and part spiritual advisor in order to guide our clients,” says Green. “They come to us with their thoroughbred portfolios and we see which horses are performing well or producing foals. We might tell them to sell a horse they want to keep.”
“It might be the horse their daughter learned to ride on or they have an emotional attachment to it for some other reason. We look at it unemotionally and advise the client on what makes sense financially,” he explains.