Halloween is a time when fear is at the forefront, and we willingly watch scary movies, walk through haunted houses, and dress up as a witch, ghost, or zombie. But have you ever asked your clients what their biggest fear is? I’m willing to guess that it isn’t monsters or the undead or other fictional entities that make the hair on the back of their necks stand up, but rather the seemingly more tangible threats, like natural disasters, a stock market crash, nuclear war, hackers, or any other fear-inducing headline of late. So how can advisors curb their clients’ fears of losing everything?
While last time I wrote about clients who become more optimistic as the bull market streak continues, there are also those clients who are notoriously glass-half-empty thinkers. With an eight-year bull market run and a consecutively positive 2017, these are the clients who feel that we’re due for a downturn, and are waiting with bated breath for the proverbial other shoe to drop. What can you do for clients whose strategy is to quit while they’re ahead?