Invest Magazine
Spotlight On: Robert Turner, President & CEO, Capitol Financial Solutions
President and CEO Robert Turner spoke with Invest about managing client anxiety in the past year and what our firm is doing to attract the next generation of financial advisers.
How did you go about managing client anxiety through the past year’s uncertainty?
It’s always challenging to address the psychological side of investing but it was harder than usual last year. The main goal is to convince clients to stay the course. We try to educate ourselves during the intake process to understand what kind of risk appetite they have and if we match that correctly, they will remain invested.
Last year, there was a lot of volatility in the market, so the challenge was to not only manage the volatility but also to take advantage of it. When we are systematically investing in a market that is going up and down, we can do well in the long term. Some of our clients actually took the opportunity to use some of the money they had sitting on the sidelines and reinvest it in the market. If anything was exposed last year, it is probably that some investors were getting a little greedy and were a little too thinly stretched than they should have been due to the bull market. Some of those investors couldn’t handle the volatility because their risk tolerance was not balanced since they had gotten used to being more aggressive.