As the year winds down to an end, financial advisors should be
mindful of next year and the years to come. Now is as good a
time as any to make sure that you know your customer.
The year-end gives you a unique opportunity to get in front of
your clients and revisit the year coming to an end and their future
with you. Here are some questions that immediately come to
mind:
- Have their goals changed?
- Have they changed jobs or expect to in the coming year?
- Is there an immediate or short term need for cash?
- Has their tolerance for risk changed?
- What are their investment goals on a short term and long term
horizon?
Any financial advisor that does not know the answers to these
questions is looking to get sued in the future. The key to
any risk prevention and, for that matter, client satisfaction, is
to make sure you know your customer. I have prepared this
guide book that may help with this analysis.
