/ by Don Connelly / Managing the Relationship / 0 comments
One of the biggest challenges financial advisors face during volatile markets is the tendency of clients to focus on short-term market fluctuations, often making impulsive decisions despite repeated discussions about their long-term goals.
The issue isn’t a lack of clear communication or financial education on the part of advisors—it’s a lack of client involvement in the planning process. When clients are passive recipients of a plan, they’re less committed to it and, therefore, more susceptible to short-term myopia.
Collaborative financial planning changes this by making clients co-creators of their strategy. By actively participating in the process, clients develop a deeper sense of ownership, fostering resilience and a focus on their long-term vision.
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Why Good Advice Gets Ignored (And What You Can Do About It)
/ by Don Connelly / Best Practices / 0 comments
Every seasoned financial advisor has been there: You’re sitting across from a client, laying out a solid plan backed by clear data, sound projections, and solid logic. They’re nodding. They say, “Yes, that makes sense.”
The meeting ends on a high note. Then weeks go by… and nothing. No signatures. No changes. When you follow up, they’re still stuck on the same concerns.
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Why Collaborative Financial Planning Keeps Clients Focused on Long-Term Goals
/ by Don Connelly / Managing the Relationship / 0 comments
One of the biggest challenges financial advisors face during volatile markets is the tendency of clients to focus on short-term market fluctuations, often making impulsive decisions despite repeated discussions about their long-term goals.
The issue isn’t a lack of clear communication or financial education on the part of advisors—it’s a lack of client involvement in the planning process. When clients are passive recipients of a plan, they’re less committed to it and, therefore, more susceptible to short-term myopia.
Collaborative financial planning changes this by making clients co-creators of their strategy. By actively participating in the process, clients develop a deeper sense of ownership, fostering resilience and a focus on their long-term vision.
Read more