Daniel R. Solin's Blog, page 18

A Little-Known Bias You Share With Your Client

“Belief superiority” is the belief that your views are superior to other viewpoints.  Those who feel this way believe they are better informed about the topic than others.

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Don’t Be the Last Investor on the Titanic

The study found weak price competition among actively managed funds and high profit margins, with an average profit of 36%.  Clearly, the business of actively managed funds is great – for the fund managers.

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The Awesome Power of the Solin Pivot

The Solin Pivot is an extremely powerful tool.  It works because people want to talk – especially about themselves.  It makes them feel good and important, which is exactly how you want them to feel.

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Don’t Bite

I love Apple.  I am typing this blog on an iMac. But I don’t own shares of Apple stock, other than what’s in my mutual funds.

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You Talk. You Lose.

Everyone has an agenda.  Unless you ask, there’s no way you’ll understand it – much less address it.

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Red Flags

If you’re an advisor who lists one of your services as coordinating with your tax professional, you’ll find it especially difficult to compete with a CPA who offers one-stop shopping. No need for “coordination.” Don’t be lulled into a false sense of security. There’s trouble on the horizon for many advisors.

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The Sky Isn’t Falling

Here’s sound advice for dealing with market volatility. Treat short-term losses as noise. Ignore them.Turn off the financial news.  Stay the course.

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What You Don’t Know Can Kill You

According to a study published in the New England Journal of Medicine, there’s a direct correlation between the technical skill of the surgeon and fewer post operative complications.  That’s not surprising.

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A Likeability Transformation

If you want to convert more prospects into clients, focus on becoming more likable.  I summarize the research correlating likability with sales in this article.

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Why Your Clients Don’t Listen to You

You want to prepare your clients by revisiting their investment policy statement, taking a hard look at their asset allocation and educating them about market volatility.

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