As advisers, one of our many responsibilities is to anticipate and help manage our clients’ behavioral risks. We are here to help them avoid making poor decisions based on short-term market fluctuations that could derail their longer-term plans. We understand that our clients’ goals should be driving their financial plans, and that investment performance is just one of the levers used to help attain those goals.
We may say things to clients such as, “Focus on the long-term, turn off CNBC and don’t listen to the noise.” It does not help that, today, more clients than ever have access to Wall Street noise via the internet or other mediums.
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