One of the primary recommendations regarding ways to calm clients when speaking to their financial advisors is to make the relationship primarily personal at the start. It is important to take the time to reduce anxiety before speaking about finances. Establishing financial trust is a process, one that can be started with a small amount in a single account before asking a client to move all of their accounts over.
Transparency and letting clients know that many other clients have made bad decisions at some point or reasserting that many other people have been in similar situations are ways for advisors to help clients realize their problems are not so unique and can be resolved.
For more on this important research, please see our new article coming Thursday.