/ by Don Connelly / Investing Wisdom / 1 comment
There are things we know and there are things we don’t know. A first thing we know is that every single time the stock market has gone down, it has come back.
A second thing we know is that every single time the market has gone down and come back, it has gone on to set new highs.
And, a third thing we know is that a perplexingly large number of investors lose money in the stock market, despite knowing the first two things.
What we don’t know is what the market will do tomorrow.
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Learn to Laugh at Yourself when It Is Called for
/ by Don Connelly / Best Practices / 0 comments
It is hard to overstate the importance of being able to laugh at yourself. People who can do this are generally more optimistic than those who cannot.
Optimistic personalities go far in the Financial Services industry.
I have seen a lot of Advisors fail over the years, but I have never seen an optimistic Advisor fail. Being more cheerful and less serious is a great survival technique.
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There Is a Shortage of Accountability – Be Responsible
/ by Don Connelly / Best Practices / 0 comments
Your clients will love you if you insist on being accountable for your own actions. Your clients look to you as a leader. They depend upon you to lead them to their goals safely and on time.
One of the key components of leadership is accountability.
If you hold yourself accountable for everything you say and do, people will respond favorably. It is so refreshing to hear someone take responsibility for his or her own actions.
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Common Sense Is Quite Uncommon
/ by Don Connelly / Best Practices / 2 comments
Our A students become professors. Our B students go to law school. Our C students rule the world.
So wrote Dean of Harvard College, Henry Rosovsky.
The inference to be drawn from Rosovky’s observation is that common sense will take one very far in life. Street smarts trump book smarts.
Everybody seems to know that common sense is always the answer.
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The Alzheimer’s Tsunami & Preparing for the Worst
/ by Don Connelly / What's New / 0 comments
Understanding the Signs, and YOUR legal & Ethical Liability
We heard you loud and clear! On February 18, 2014, Don Connelly 24/7 held a second webinar discussing a Financial Advisor’s call to action upon a client’s diagnosis of Alzheimer’s.
Is the Advisor obligated to act? If so, how?
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Optimism Is a Choice
/ by Don Connelly / Marketing Yourself / 1 comment
I read an interesting article that stated each of us has nearly 60,000 thoughts per waking day, one each second. We mostly think about things we have thoughts about before and many of those thoughts are negative.
Mood and memory are linked.
For whatever reason, bad thoughts seem more powerful than good thoughts. We hash over the bad thoughts and we get in a bad mood. People in bad moods think negative thoughts. We should call it a negativity loop.
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Play The Cards The Market Deals You
/ by Don Connelly / Investing Wisdom / 1 comment
There are things we know and there are things we don’t know. A first thing we know is that every single time the stock market has gone down, it has come back.
A second thing we know is that every single time the market has gone down and come back, it has gone on to set new highs.
And, a third thing we know is that a perplexingly large number of investors lose money in the stock market, despite knowing the first two things.
What we don’t know is what the market will do tomorrow.
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Having Problems Is a Plus
/ by Don Connelly / Best Practices / 0 comments
If you know you’ve got problems gathering assets and growing your business, you are lucky. A problem can be turned into an advantage and that’s a good thing.
The very fact that you recognize a problem means that you are concerned enough to recognize it, that you want to better yourself. Too many Advisors drift along waiting for magical occurrence to turn their business around. You are trying to make things happen.
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Every Advisor Needs to Bring Back the Story
/ by Don Connelly / Presentation Skills, Storytelling, analogies and power phrases / 3 comments
The ability to tell good stories is vital if you want people to like and trust you. Your clients like you and trust you. They didn’t buy a financial plan or a managed account. They bought you.
People can’t ‘buy’ you until they know you and the best way to get to know you is to hear your story. And they can’t hear your story until you tell it to them. The better you do that, the sooner you open the account. As Peter Guber says, you tell to win.
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Client Goals Are Not Reduced by Falling Markets
/ by Don Connelly / Investing Wisdom / 0 comments
The biggest challenge every investor (and, actually, every Advisor) faces is staying fully invested in the face of bad news. It’s only normal to want to escape danger. Unfortunately, fleeing danger means timing the market. The stock market is too fragmented to successfully time over an extended period. In too many ways, tactical asset allocation is churning without the commissions.
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Get Your Work Done in Sixty Percent of the Time
/ by Don Connelly / Best Practices / 1 comment
I can tell you without hesitation that the amount of time you spend marketing yourself this year determines how much you will grow next year. If you don’t prospect and market yourself, your business will wither and die.
I can also tell you without hesitation that running your business gets in the way of growing your business. The details eat up your time. There are only so many hours in the day. What to do then? Why do we give tasks more time than they need and what can we do about it?
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