Financial advisors understand money and investing to a degree that surpasses a majority of the population. Because of that, advisors must frequently navigate gaps in their clients’ financial educations. Here are some common client misconceptions and how to handle them.
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With frequent client misconceptions around even the 101 level of finance, it can be tricky for advisors to bridge the gap and clearly communicate their strategies. Barse counteracts this through a robust onboarding process. Vance Barse noted, “When clients come onboard, we like to start with an understanding of what their foundational financial literacy is, what they are trying to achieve in their planning/investment process, and pair the two so they can understand how what we’re doing for them is unique to their goals.”
See An Advisor’s Guide to Client Misconceptions in ETF Trends.