Do your clients always seem to be on an emotional roller coaster ride? When the market is up, they are happy and sometimes greedy, but when the market is down, they are concerned, fearful, and maybe anxious. As financial advisors, understanding and managing these emotions are critical for maintaining long-term client relationships.
Most financial advisors ride the ups and downs of the emotional roller coaster along with their clients. The reason is that they have never realized that there is an art to managing clients when their emotions are tethered to the market.
You see, money can be a very emotional subject for a lot of people. And, when the market is volatile, emotions such as fear, panic, greed, euphoria, anxiety, uncertainty, and loss aversion can become everyday occurrences that financial advisors face. It’s not just financial advisors and their clients that have to face this type of emotional turbulence. In fact, when insurance agents are faced with increasing premiums, their clients get very emotional as well. And, when wholesalers call on advisors and agents, they feel the effects of what the advisors and agents are going through.
This episode teaches how successful advisors and agents can manage emotional client behaviors!
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