October 15, 2018 / by Don Connelly / Investing Wisdom / 0 comments
During your career, you’ll find over and over again that emotions cloud clients’ investment decisions – clients are not always inclined to act in their own best interests. At times like these you need to step in and be a behavior coach for them – otherwise they’ll end up regretting their decisions down the line.
Here are three things that clients want to do – but shouldn’t, and how to counter them.
Read more
Three Things That Clients Often Do – Even Though They Shouldn’t
October 15, 2018 / by Don Connelly / Investing Wisdom / 0 comments
During your career, you’ll find over and over again that emotions cloud clients’ investment decisions – clients are not always inclined to act in their own best interests. At times like these you need to step in and be a behavior coach for them – otherwise they’ll end up regretting their decisions down the line.
Here are three things that clients want to do – but shouldn’t, and how to counter them.
Read more
To Excel as a Financial Advisor, You must Motivate Yourself and Stay Motivated
May 16, 2016 / by Don Connelly / Marketing Yourself / 0 comments
When you are at your most vulnerable, you cannot let it show. You must remain strong for the simple reason that the more uncertain the times, the more certainty clients will demand from you. Your equity is your relationships with your clients. It is imperative that you always do what is right, in order to preserve those relationships. If you get down, motivate yourself right back up.
Read more
What If Clients’ Sentimental Equity Holding Doesn’t Match Their Risk Tolerance?
April 18, 2016 / by Don Connelly / Investing Wisdom, Managing the Relationship / 0 comments
Today I’d like to share with you an email I received a while ago from Mike at Edward Jones. ¨What is the best way for an FA to approach a client about an equity holding that has sentimental value to the client but does not fit their risk tolerance? I have a 75-year old widow with over 50% of her net worth in Disney stock. I also have a widow who inherited her husband’s IRA at another firm. She had no idea what was in it, it was with an advisor she doesn’t know. Turns out it is 60% in aggressive investments, but she still wants to keep it there. Help.¨Listen to Don’s answer or read the transcript.
Read more
Successful Investing Takes Time, Skill and Good Luck
January 23, 2014 / by Don Connelly / Investing Wisdom / 0 comments
How would your client react if you suggested retaining a money manager with no experience? Better yet, how about one who isn’t licensed to manage money? Better yet than that, what if this money manager has never had a client? Your client would be his first. Out of the question, right?
Read more
To Not Invest Is to Go Broke Safely
October 17, 2013 / by Don Connelly / Investing Wisdom / 0 comments
Bertrand Russell said to conquer fear is the beginning of wisdom. In order to trust you with his or her money, a client must, if not conquer, at least control his fear. Explain to your clients that there are five ways to reduce risk.
Read more