I caught up with several advisors at the recent Schwab Impact conference in Denver to discuss what is top-of-mind with their clients. The advisors explained that a real financial-risk discussion is what their clients want. It's the time to take the client's pulse to check on his or her tolerance. These also are the conversations that build trust, advisors say.
The advisors I spoke with also said they use these face-to-face meetings to help clients conquer some of their fears.
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To that point, they ask clients which competing risks they are willing to accept: Are they willing to accept the risk of not retiring on time? If not, are they willing to take on more portfolio risk?