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Settling Emotions Through Age-old Financial Strategies, Go Back to the Basics

Keel Point

January 27, 2021

Every year the WealthManagement.com Outlook complies expert articles from pioneers in the wealth management space. The outlook addresses the challenges and opportunities that financial planners face in the year ahead.

Thomas O’Connor, a Keel Point senior wealth advisor, was included in the 2021 outlook with an article detailing how important it is to remind clients that their plans are based around a history of effective financial strategies before making emotionally-charged decisions – a challenge that advisors faced in 2020 with the ongoing market volatility. Thomas is passionate about guiding individuals and families to accomplishing their financial goals and investing in their purpose and wants to ensure they are not making rash decisions with funds they have spent years building. His piece reminds us that there is always a way to settle the dust, even during stressful times.

You can read Thomas’ full piece here.

Thomas recommends that advisors bring their clients back to the basics of finance and remind them of the principle of compounding – which occurs when interest is added to an investment earnings principle, forming a more extensive base for future earnings to accumulate.

When clients are looking to dump their investments out of fear of a plunging market, it is essential to remind them that the solid foundation of accumulated assets they have built has multiplied over the years. Thomas’s piece highlights that reiterating age-old financial strategies is one of the most helpful tactics when quelling a client’s nerves due to the ongoing uncertainty.

If you have questions about financial planning or how you can work with our team to navigate an unsettled market, click here to speak with one of our advisors.

Here is the full Wealthmanagment.com 2021 Outlook, which includes articles from experts across the industry.

 

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