Financial planners are spending a lot of time these days trying to allay their clients fears, the St. Louis Post-Dispatch reports. Anyone who works with a financial adviser most likely has money in the stock market and, therefore, has experienced steep losses in the past year.
But so far, most investors are not blaming their advisers for the market mess. Instead, they are relying on them more heavily.
If youre not down, youre not investing, said Mike Brown, first vice president at
UBS, in fact, is one of the few firms that has been actively reaching out to investors, Brown said. His own message to clients has been to remain calm and unemotional in the face of the financial storm.
The key to long-term investment success, I think, is to minimize activity and to make investment decisions without emotion, if at all possible, Brown said.
Thomas Eyssell, head of the financial planning program at the
While planners are themselves experiencing big declines in income due to lower account balances, some report more clients are coming to them in search of answers. In fact, due to the oncoming wave of retiring Baby Boomers, the
