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Camp Connelly is designed specifically for you - the Financial Advisor. With more than forty years in the business Don Connelly has done it all. Now, he’s sharing his wisdom, insight and experience with you. Learn to overcome objections, stay motivated and win clients efficiently and effectively.
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June 2010
Don's Monthly Message: Talking to Your Cat
Wedding photographers are overpaid.
The guy who stands at a road repair project holding a sign that says "Stop" on one side and "Slow" on the other has the easiest job in the world.
Volatility is an investor's friend. Liquidity is not.
Some things are just not obvious until you stop and ponder. Volatility is just such a thing.
Sometimes it's like talking to a cat.
Have you noticed that when you talk to a cat, the cat looks at you and blinks, as if she understands everything you are saying? Now picture a new client as the Advisor explains market volatility. Imagine the client nodding in apparent understanding. Now imagine him on May 6th of this year as the market drops 480 points in six minutes and then jumps 500 points ten minutes later.
The next time you're in Sandusky, Ohio, head to Cedar Point and jump on Millennium Force. The 93-mile an hour dive at an 80-degree angle will give you an idea of what your clients went through that day. I'll bet you a lot of money that anyone who bailed on May 6th is not back in the market yet, and will not be for a long time.
Understanding the client psyche. If not getting started is the biggest investment mistake in the world, bailing out of the market before a financial plan has a chance to come to fruition ranks a close second. Clients are investors and investors habitually zig when they should zag. They fail to follow through. Why is that? What's the explanation?
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