For example, when investors want to pursue a hot tip, advisors should help them come to terms with the risk associated with the suggestion by having them identify what can go wrong with the investment.
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Harold Evensky, president of Evensky & Katz, says advisors should develop skillful questions to help their clients assess risk as a way to reign in investors’ irrational behavior. So reports Financial Advisor.
For example, when investors want to pursue a hot tip, advisors should help them come to terms with the risk associated with the suggestion by having them identify what can go wrong with the investment.