With the unexpected election of Donald Trump, we are headed into uncharted waters. Some of your clients are probably nervous. You may be, too.
You may be considering making tactical adjustments to your portfolios. I'm not going to opine on whether you should change course, but I will say this with confidence: you should have a working steering wheel. If you stay the course, it should be a decision, not the default outcome of not being able to do anything else.
When I ask portfolio managers who don't use Smartleaf, "How long does it take you to implement a tactical investment decision?", a typical response is "somewhere between two weeks and never." No one should stand for this.
There's a better way. If you think it is in your client's interest to make changes, you owe it to them to have the capacity to do so. Your clients deserve the benefit of your best investment advice — they deserve to have you be in control. Now, perhaps more than ever.
For more on this topic, check out The Three Types of Wealth Management Firms.
COMMENTS