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Asian American financial advisors see unmet potential

Asian American financial advisors see unmet potential
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Investments and Wealth Institute s 2021 Investor Behavior in a Market Crisis report released

June 22 “Investors really don t have a good sense of market history, and advisors thought that their clients knew much more than they did when it came to the financial crisis,” Burr says of the findings. “Last year, the advisors had a pretty high confidence that their clients would know what the max drawdown was of those periods. And they definitely did not.” The key takeaway for advisors, he says, is thorough communication between advisors and clients. “Communicating, specifically about the challenges that a client is going to face we think is absolutely imperative,” he says. “We ve seen many studies where they show that education does a little bit, but not a ton. To me, it’s the training that matters. The difference between education and training is the application of knowledge and skills, rather than just the didactic ‘I m going to tell you this thing.’”

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