Several weeks ago, the US stock market experienced some turbulence. In fact, in the span of just a few days, the Dow Jones Industrial Average saw a decline of 2,000 points give or take, or about 5%. I was at a party somewhere about that time, and someone who knows what I do for a living asked me, “Are your clients blowing up your phone?”
My answer to that was “If clients are blowing up my phone, then I’m not doing my job.” Here is what I meant.
I have long maintained that my clients are among the smartest on the planet. We spend a lot of time educating and setting expectations around what markets can deliver and what they CANNOT deliver, namely short-term certainty. Because of this –
They understand the futility of attempting to outguess the market.
They resist chasing past performance.
They understand the benefits of diversification.
They ignore the headlines.
They focus on what they can control.
And they understand that markets have generally rewarded patient investors.
So, when financial markets are turbulent, we rarely get calls.
I also maintain that investing done properly should be boring, despite what CNBC screams at you every day. And if your current advisor isn’t doing that, I can refer you to dozens that will.
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/ SIPC.
This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your advisor prior to investing.