The COVID- 19 pandemic has left many confused about the present and worriedabout the future. In this uncertain environment, the work you do with your clientscan help them successfully navigate these challenging times. It also can forgestronger relationships that could benefit all of you in the years to come.
To be truly effective, that work can’t focus only on their portfolios —it also needs to focus on your clients’ state of mind.
Feelings before actions
Humans are naturally inclined to respond to threats with action.
In times like these, though, the impulse to take action canbackfire and push us toward decisions that, in the long run,may be counterproductive.
In the first quarter of 2020, extrememarket volatility caused someinvestors to pull money out ofequity funds and exchange-tradedfunds (ETFs). Your clients mayhave been tempted to followsuit. If so, they likely missed outon a powerful second-quarterrally that erased quarterone’s losses. Before makingany moves, take time tounderstand what’s drivingyour clients’ decisions.
Ask — and really listento — what’s happeningin their lives.
in uncertain times