TWO Big Mistakes Advisors Make with Clients

Most people are unaware of the two big mistakes financial advisor make with their clients.

And today we will explain them to you.

But first…

Have you ever listened to your financial advisor explain something to you and thought, “What does that mean?”

Maybe what they said sounded impressive (and you didn’t want to admit you didn’t understand them).

So instead, you just agreed with what they were saying and went along with their suggestion.

It happens all the time.

And it’s one of the most common mistakes advisors make with their clients.

It’s called “assuming your client understands you.”

 

Please understand, I’m not knocking the credibility of financial advisors…because this happens in most professions.

How and Why?

The professional (doctor, lawyer, accountant, etc.) speaks in a language that’s familiar to them but not always to the client, patient etc.

 

READ: Doctors, Fat People and Buying Stocks, November 10, 2021 (HERE)

 

And/Or Read:  How Your Broker Takes Advantage of You  March 26, 2021 (HERE)

 

Most advisors (I speak from experience) communicate with words that they understand and assume that the person listening to them knows what they’re talking about.

They also assume that every investor out there is up-to-date with all that’s going on in the markets.

Big Mistake…Huge.

The truth is most investors are more interested in their own lives than what’s going on in the global markets.

That is human nature.

So, you as an investor, should never be afraid to ask the question, “What does that mean?”

 

The second biggest mistake advisors make is when they fail to admit they were wrong about something.

This eventually backfires because if you know someone has made a mistake and doesn’t admit it then your trust in them comes into question.

However, if your broker says something like, “I’m sorry about how that last recommendation turned out because…”  wouldn’t you be more likely to forgive them.

So, in case you are interested, we have numerous articles on How to Choose a Financial Advisor That’s Right for You.

And they focus on key things to look for when you’re seeking professional help.

And they’re available (HERE).

 

We also publish articles in our “Short and Sweet Tips” column every month that deal with issues like “When to Take Profits” …featured in this month’s issue (HERE).

Or you can simply type in a word search like “Financial Advisor” in the search box on our home page (HERE).

Share this with a friend…especially if they’re looking to find a financial advisor, they can believe in.  They’ll thank YOU later.

 

And tell them:

 

We’re Not Just About Finance

But we use finance to give you hope.

And you shall know the truth,

And the truth shall make you free

 

~ John 8:32 ~

And don’t forget: