Every couple of weeks for the past year and a half, I’ve taken an evening or a weekend morning to talk to investors – discussing their mood and chatting about what they’re thinking and doing.
A couple of weeks ago I talked to an investor who had recently switched advisors – and who provided an example of the stress that investors experience when they’re not sure whether their advisor is really on top of their financial affairs.
“I’d been working with this advisor for a few years” he said “and I liked him well enough. He’s actually a really nice guy.
Making meaningful changes in how we work is one of the hardest tasks we can attempt.
Change is possible however – recently I had a conversation with an advisor on a large team that had succeeded in implementing some significant new initiatives since the beginning of the year.
They key was time blocking, setting aside time each week for a major new undertaking and implementing a proven formula for change behind that commitment.
Recognize the obstacles to change
Change is an incredibly powerful force – it can word for you or against you. The trick is to harness it to work in your favour.
Tuesday’s article “Wake-up call for advisors” drew by far the largest response of any article since the launch of this blog a year and a half ago.Focusing on a number of recent articles on affluent investors leaving existing advisors, the post laid out five strategies to respond to this trend.
Of course, laying out the strategies is the easy part – it’s acting on them that’s tough. One approach that might help was suggested in a recent email from Patty O’Connor of Price Metrix.
3 ETF Trends Being Spotted Right Now by AdvisorAnalyst 18 Mar 2010 at 8:23am
This article is a guest contribution by Tom Lydon, ETFTrends.com.
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