Where Most Financial Advisors Drop the Ball | Chris Casey

Summary

Chris Casey discusses the factors that determine how often financial advisors should communicate with clients. He highlights client preference, portfolio complexity, market conditions, and investment activity as key drivers. The conversation focuses on best practices for advisor-client communication and how clients can get more value from their advisors.

• Discusses four factors influencing advisor communication frequency: client preference, portfolio complexity, market conditions, and investment activity.
• Emphasizes the importance of explaining the thesis behind asset purchases and sales to clients.
• Advocates for ad hoc communication when investments change, rather than waiting for quarterly meetings.
• Suggests clients set expectations with advisors on communication frequency and ask questions to get the most out of interactions.
• Notes that picking up the phone is a lost skill but valuable for sensitive topics.
• Encourages clients to bring their own investment ideas and research to discussions with advisors.
• Highlights the role of advisors as mentors, especially for younger clients wanting to learn.
• Stresses that advisors should be able to answer any client question about investments or accounts.