Are Your Clients Talking Behind Your Back?

A few days ago, as we were warming up for one of our regular tennis doubles matches, one of my tennis buddies asked me, as well as everyone in earshot, my thoughts regarding the global allocation in our portfolios. Before I could answer (not that I had an answer) everyone joined in the conversation.

This conversation, in a variety of forms, has become quite common amongst today’s affluent. Wild market fluctuations, 24-hour media drumbeat, combined with our current political dysfunction has everyone on edge. There’s a serious meta-message behind these conversations – financial advisors aren’t communicating sufficiently regarding the aforementioned.

In our pre-tennis conversation (I did most of the listening) it was interesting that these three affluent clients – two physicians and a professor – made no mention of what they were hearing from their financial advisor. My translation; either they don’t value their advisor’s opinion or there’s been radio silence. Knowing this group as I do, I suspect it was the latter – radio silence.

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