Like most retail financial advisors, I have thought a lot about how to reduce both actual risk and the perception of risk in my clients portfolios. Since 2008 we have all thought, rethought, written and rewritten about risk.
I focus on financial planning to help clients understand why they are investing. I have had discussions about why portfolio allocation helps to protect clients; Ive used all the financial metrics and Monte Carlo simulations. But no matter the conversation, it seems that clients see themselves forever in danger of falling off a 1,000-foot cliff a fall they feel is one small misstep away.
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