The Paradox of Financial Education: How Too Much Knowledge Can Cost You Clients

The Paradox of Financial Education - How Too Much Knowledge Can Cost You Clients

Financial advisors constantly walk a tightrope between empowering clients and overwhelming them. While financial literacy is crucial for informed decision-making, overeducating prospects and clients can backfire, resulting in the loss of an account. This phenomenon can be better understood by examining the psychology of financial decision-making and the delicate advisor-client relationship.

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Am I Oversimplifying Things?

Don Connelly audio blog - AskDON

Brad from Southern California is a Merrill Lynch advisor. He sent me an email, which is in a way, funny, but poses a very serious question nonetheless.

“Don, I have a strange concern. I’m concerned that in my attempt to make things simple I go too far. There are times when I feel I’m patronizing people by talking what I call ‘baby talk’. I literally get embarrassed sometimes. I know what you’re going to say, keep it simple. But when’s enough enough?”

Listen to Don’s answer or read the transcript below.

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