/ by Don Connelly / Best Practices / 0 comments
Whether planning for retirement, investing in volatile markets, or managing tax implications, clients are often presented with intricate information that can leave them overwhelmed, confused, and anxious, undermining their ability to make informed decisions.
Of all the key roles and responsibilities of a financial advisor, one of the most essential is communicating complex financial concepts into simple terms the average person can understand. This is critical to helping clients understand their options, feel confident in their decisions, and build lasting trust.
When clients clearly understand their financial plans and the reasoning behind recommendations, they’re more likely to remain engaged, ask insightful questions, and feel empowered to take ownership of the plan.
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How to Help Clients Through Their Financial Anxiety
/ by Don Connelly / Managing the Relationship / 0 comments
Who among us has never had worries about money? You can expect that many of your clients have experienced money worries from time to time. We know that clients can become stressed during periods of increasing market volatility or economic distress. And we’ve shared how financial advisors can help clients deal with that stress and confront fears to prevent their emotions from controlling their decisions.
But what about financial anxiety? Not only is that different from stress, but it can be much more debilitating to the psyche, causing mental paralysis in the face of important financial decisions. While stress is typically caused by external factors, such as a crashing market or rising unemployment, anxiety tends to rise internally over fears or unhealthy attitudes about the world around us.
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