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Financial advisors have come to understand that they are a combination of money manager, financial planner and psychologist.
With that said, many advisors are now meeting with their clients to help them get their financial houses in order as they prepare for 2015. It's time to review and rebalance portfolios, discuss tax-planning strategies, prepare for workplace open-enrollment decisions and map out that 2015 budget.
I caught up with several advisors at the recent Schwab Impact conference in Denver to discuss what is top of mind of their clients.
The advisors explained that clients continue to be fearful about market volatility, inflation, low interest rates and the current political market. They worry, of course, how all this will impact their long-term investments.
These advisors all stressed that the conversations they have with clients right now can help calm fears and allow them to navigate the new environment and keep their planned financial goals in sight.
The advisors also use the end-of-year conversation to discuss with their younger clients the need to keep retirement goals in focus and to better understand their own risk tolerance.
Risk tolerance differs from client to client, but no matter what your age, these advisors stress that the steps you take now will help you secure a solid financial future.
It's obvious that the management of one's life savings is quite personal and emotional for investors. That's why these year-end financial conversations are so key, the advisors stressed.
Read MoreAsk your advisor these 10 questions
Advisors need to be engaged and listen very carefully to a client's personal situation. By doing so, they will be able to properly manage the client's portfolio by executing it and monitoring it to make sure the client is well served.
—By Jim Pavia, senior editor at large