Every week, we bring you a curated list of articles hand-picked by industry veteran Kristan Wojnar to help you grow your investment advisory practice. Follow our Practice Management Channel to differentiate yourself with new ideas and build enduring client relationships.
Uncertain times and market volatility can lead to overwhelmed, anxiety-ridden clients. This week we are focused on tactics to calm your anxious clients. Our first piece looks at how the brain processes the emotions of anxiety and fear, as well as tactics that demonstrate empathy. Our next piece argues that you should stop trying to “fix” your clients’ emotions and instead embrace their concerns. Our final piece for the week explains the cortisol effect and the science behind fear.
Fear and worry are powerful emotions. While presenting long-term data to clients is often the industry response to market volatility, understanding how the brain processes emotions is important. This piece offers 5 strategies to address emotions instead of trying to combat them with data and logic.
When it comes to managing client emotions and concerns, this author says it’s likely best not to try to “fix” your clients. Alternatively, consider addressing their concerns by providing a safe place to articulate their concerns and to build their confidence. Read on to learn more.
Have you ever wondered how fear can cause investors to make panicked investment decisions? This pieces outlines understanding our biological response to fear and how advisors can help clients prevent fear from negatively impacting their judgement.