![]() ![]() Communicate with your clients now, more than ever.įor those advisors who haven’t yet created financial plans for all of their clients, you’ve been given a tremendous opportunity. By adopting a similar approach, you remove that perceived advantage. It is safe to say the robos have been communicating in a more timely fashion than traditional advisors. I’ve also seen many comments about the robo-advisors over the past few days, and I want to reinforce that financial planning is a major differentiator between you and the investment-centric robo-offerings. Just because it is possible, doesn’t mean it is a good idea. I am not sure WHEN it became a good idea to focus clients on the short-term vagaries of the market it probably started when technology made it easier to report the daily or weekly changes in their portfolio balances. This is a big difference from simply stating that their account is down $28,543 today. Client, we planned for and expected volatility, and your plan is still on track to fund your goals.” After all, when the client asks how their portfolio is doing, aren’t they really asking, “Am I still going to be able to fund all of my goals (in retirement)?”įor all of you that have created financial plans for clients, consider bringing the conversation back to the center – “Mr./Mrs. ![]() the number of points gained or lost in the market today. One of the best ideas I can share is to focus the client back on the status of their financial plan vs. I have been receiving many requests from advisors about how to best communicate with clients about the current market volatility. Kevin Knull CFP®, President, MoneyGuidePro ![]()
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