HANDLING TOUGH CONVERSATIONS
Even the most confident of investors can sometimes be unsettled by market conditions, leading to questions about the financial plans set in place on their behalf.
Clients can have an emotional reaction to adversity. Help your client see the rational, bigger picture, and maintain a long-term investment view, during periods of low growth.
You may have experience of a client tempted by a ‘hot tip’ or an investment that has recently out performed, but if they acted on this, they risked ‘chasing performance’ – buying high and selling low.
We suggest an open and transparent discussion about fees, using simple language, is central to achieving a trusting relationship with your client.
Implementing changes to portfolios
You may occasionally run into resistance from your client when implementing the portfolio changes necessary to deliver their financial plan.
Even the most confident investors may be unsettled by market ups and downs. That is why advisers tell us it is important to help clients understand that market volatility is a normal part of investing.
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About the author
Paul Bolt, our wine expert, was recently inducted as a Chevalier de Champagne and actively trades on Livex.