You want to prepare your clients by revisiting their investment policy statement, taking a hard look at their asset allocation and educating them about market volatility.
I assumed that if I marshaled the facts better than those taking a different position, I would be persuasive. But that assumption is dead wrong.
We assume that prospects will carefully scrutinize every detail of our appearance, the ideas we present and the depth of our technical knowledge. That’s wrong. Believing the spotlight is on us will cost you prospects and assets.
I’ve gained new insights working with advisors rewriting and redesigning your web pages. I want to share some of the most notable ones with you.
It should be comforting for you to know that, by giving your clients a sense of control, you increase their level of happiness.
The most glaring example is risk from huge competitors, with far greater resources, who charge much lower advisory fees. Vanguard is your biggest threat. Its hybrid services charges only 0.30% of AUM.