Patience, patience, patience. For those of us building portfolios, it’s critical we understand the behavioral challenges inherent in active investing if our clients are to reap the potential rewards.
Expanding your team of advisors allows you not only to increase the services you offer but also to interact with clients per their personalities and preferences.
First, do no harm. It’s good advice for doctors. It’s good advice for financial advisors and investors.
Investors cannot control the markets’ returns. To boost the odds that investors will succeed, advisors should help them focus on saving more. A higher contribution rate may even enable less risk-taking.
Harvesting losses in taxable accounts and making thoughtful asset location decisions can limit clients’ tax bills and demonstrate your value.
Don Bennyhoff blogs about benchmarking clients’ success to their investment policy return.
When emotion is the obstacle keeping clients from their goals, Don Bennyhoff suggests an incremental approach to get portfolios back to their target allocations.