The Fear Pandemic & A Timely Message
There is one thing more contagious than Coronavirus – that is fear.
The last few weeks, I have telling advisors in the Behavioral Finance Network that we have to provide an action plan for clients to pacify the amygdala, which besides being our fear center, wants to do something. The irrational hoarding of toilet paper and other staples is evidence that people just want to do something about it. They will want to do something about it with their portfolio as well.
I share with you the coaching message sent this morning to members of The Behavioral Finance Network. I have created a lot of timely client content lately, and these advisors have been laying the foundation to respond in a crisis for months now.
Behavioral coaching is about proactive and consistent messaging. This can improve client experience and free you up to do the more important stuff. Advisors benefit significantly.
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