The Asset Allocator: Keep Your Head When All About You Are Losing Theirs (Podcast)
Mar. 06, 2020 7:00 AM ET5 Comments
SA For FAs
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Summary
- If you’re an advisor getting lots of panicky phone calls or text messages, what should the approach to this quasi-gladiatorial contest between bulls and bears be?
- Kipling’s classic poem “If” provides a good advisor job-description at this time: “If you can keep your head when all about you are losing theirs and blaming it on you…”.
- To this I’d add that the extreme daily shifts in market sentiment show that the market outlook du jour is a transient one. But client goals are not.
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If you’re an advisor getting lots of panicky phone calls or text messages, what should the approach to this quasi-gladiatorial contest between bulls and bears be?
This podcast (6:22) suggests that Rudyard Kipling’s classic poem “If” provides the best advisor job-description at a time like this: “If you can keep your head when all about you are losing theirs and blaming it on you...” Indeed, a key benefit of employing a financial advisor is to place an intermediary between the assets we want to protect and increase – and our itchy fingers reaching for the trade button.
This article was written by
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GIL WEINREICH - Author of "The Mentor," a unique parable for financial advisors and those who aspire to become one. I have worked in the FA arena since 1997, and during that time, the New York State Society of CPAs twice awarded its prestigious Excellence in Financial Journalism award to me for a monthly column I wrote on business ethics. Previously, I reported on international news for Voice of America (where I was awarded a newsroom writing award) and prior to that worked as an editorial assistant at U.S. News and World Report. I live with my wife and children amidst the verdant and vibrant hills and dales of Jerusalem.