Keep Clients Focused on Goals During Turbulent Times
Communication is key, trust is critical; this is the time for advisers to offer clear guidance and demonstrate empathy for concerned clients.
Findings from our research into investor sentiment show where investors may be most vulnerable and advisors may be most helpful.
Behavioural economics is the basis for several tactics to help clients remain resilient in times of market stress and stay focused on the long term.
Life doesn’t come with a roadmap. That lesson has certainly been underscored by the global pandemic. Everyday life has changed for all of us, and change can be unsettling. Change can be
especially difficult when it comes with ongoing uncertainty and monetary losses, even if they are on paper. In times like these, it is critically important for advisers to help clients stay grounded, keep current events in perspective and remember that headlines shouldn’t drive portfolio decisions. Investment returns never follow a straight path, but investors who focus on the downturns may lose sight of the upturns.