For several years now we have listened to the constant drumbeat about the importance of reaching out to the millennial generation to maintain and grow a successful financial advisory practice. However, when we look at the immediate opportunity for advisors, we may need to focus on a different segment of the population: Gen X.
John Diehl Tue May 12 09:00:00 EDT 2015
The most recent Jobs Report has reignited headlines debating when the Fed might possibly announce an interest rate hike. Chatter around the subject abounds, with every media outlet weighing in and quoting an expert about the impact of higher federal interest rates. Some even include a list of what consumers should do before the as-yet-to-be-confirmed rate rise, urging them to pay down debt, make big purchases now, and prepare for stock market losses.
The rate hike debate, while important, is just another example of how the news of the day can serve as a ‘doom and gloom’ trigger for investors. I routinely address the topic of media-induced panic with financial advisors, citing research that shows how this overload of information has the potential to incite panic in your clients, pushing them to make emotional investment decisions.
So how do you ease your clients’ fears for the implications of increased federal interest rates?