Some of these questions and client behavior situations stump advisers:
- Too much importance to form, and nothing to substance: Many (if not most) clients like pie diagrams, comparative performance, what is happening in the world report – but actually have no substance.
- Not knowing what to look for in an agent: clothes, perfume, location of meeting, ….what matters is knowledge level, not frills.
- “Are you recommending me fund schemes which give you MORE brokerage. Actually in the long run things do catch up.
- Thinking that a professional WILL choose fund schemes which will remain at the top for the next 15 years.
- Refusing to reallocate from equity – especially those people who are new to equity. Expect to see a fall in 2018?
- Refusing to read, understand, or appreciate what is happening.
- Asking the Adviser why he choose Franklin India Blue chip over SBI Bluechip or Icici Bluechip. In most cases the adviser does not know why!!!
- Worrying excessively about r, but not bothering about n or about asset allocation.
- Not diversifying enough, but hoping to reach the targets.
- Innumeracy in all forms.
- Jargon dropping without understanding the real impact.
- Taking advice from one consultant and comparing it with another consultant’s advice
this is a start…
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