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Secrets of Successful Advisors℠ with Ken Haman
Seven Steps to Managing Client Anxiety in Volatile Markets
Jun 8, 2022
Learn the seven steps to managing client anxiety in volatile markets. Understand the importance of trust in the financial advisor-client relationship. Discover how the brain functions as a prediction machine and the power of storytelling in financial decision-making. Explore the challenge of crafting a compelling story in capital markets. Learn how to deliver information effectively and build trust with clients.
46:05
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Quick takeaways
- Trust is the foundation of financial advisor-client relationships, and advisors should prioritize building trust through consistent goodwill and professional competency over time.
- Financial advisors can make their capital markets perspectives more engaging and relatable by utilizing storytelling techniques and visuals, appealing to clients' emotions and enhancing their understanding of market events.
Deep dives
Understanding the Importance of Trust in Financial Advisor-Client Relationships
Financial advisors need to prioritize building and maintaining trust with their clients. Trust is the foundation of all guidance provided by financial advisors, and it is crucial for clients to feel a consistent experience of goodwill and professional competency over time. Advisors should structure their conversations with clients around the intention of building trust and consider the behavioral aspects of their clients. By addressing key questions such as 'Are you paying attention?' 'Do you see what I see?' 'Do you know what to do about it?' and 'Do you know more than I do?', advisors have the opportunity to engender trust and instill confidence in their clients.
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