Calling All Evidence-Based Advisors!
If you’ve not yet heard about it, a small team of us has been maintaining an Evidence-Based Advisors (EBA) LinkedIn group since 2008. What began as a modest adventure has grown to a list of 1,500+ members, with new join requests coming in weekly.
The majority of members are evidence-based advisors, just as the name implies. There also are a scattering of service providers like yours truly; fund manager representatives from firms such as Dimensional, AQR and Bridgeway; and some academics who have expressed interest in participating in meaningful conversations (versus using the forum as a promotional venue). Advisors from the US, Canada, the UK, Germany, Australia, New Zealand, and a number of other countries are represented in the group. Just this morning, we accepted a join request from an advisor based in Santiago, Chile. Bienvenida!
Continue reading “A 2016 Call to Action for the Evidence-Based Advisors Group” →
The New Year’s market volatility gives me an excellent opportunity to explore a question I am frequently asked by evidence-based advisors:
When the markets are having a bad day (or few), should I reach out to my clients right away, or hold off until the results are more clear?
I get that there are a number of reasons it may seem logical to pause and reflect before sending out client communications in the midst of a market crisis:
- You might inadvertently generate anxiety where none existed. If you’ve done your job, they should already be remaining calm.
- If your clients haven’t noticed the crisis or they don’t care about it, they already are best positioned to adhere to their long-term, evidence-based plan. Why mess it up?
- Either making too light of breaking news or analyzing it too deeply could backfire on you if the markets render your comments obsolete or just plain wrong.
- Reacting to breaking news may feel contrary to your evidence-based philosophy. Are you sending the wrong message by implying the news matters?
Go Ahead, Hit the Hero Key
So, yes, I can understand why you may be reluctant to be in touch with your clients during market crises. But here is why I believe that none of these bullet points should prevent you from doing so anyway.
Continue reading “Client Communications and Current Crises: What’s an Advisor To Do?” →