Broker Check
Berthel Insights 12-13-2021

Berthel Insights 12-13-2021

December 13, 2021
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Weekly Motivation

We are drowning in information but starving for knowledge – John Naisbitt

 

Berthel Insights

Let’s talk about that weekly motivation.

When you sit down with a client, or a prospect are you looking for information or knowledge?  And there is a difference.  Often these discussions turn into fact-finding sessions where we’re focused on a client’s information…age, assets, income, risk tolerance, investment experience and expertise, objectives and timelines for example.  We want to know when they expect to retire, what assets they may have directed toward that retirement and how they view risk and reward as they move across the retirement spectrum. We’re laser focused on getting the facts gathered so that we can make an appropriate recommendation.

But a client becomes much more than a client when knowledge is exchanged with their advisor.  For example, it’s pretty common wisdom in the long-term care industry that when meeting with a couple considering LTC protection that the male is primarily concerned with the returns on the investment, while the female…and much more often than not the caregiver…is primarily concerned with the consequences of not having LTC protection in place.  In this case the male is focused on information and the female is focused on knowledge.  See the difference?

Spending a little time gathering knowledge can move a client conversation from returns to consequences…and that will have a meaningful impact on your client relationships and the health of your practice.

Bites

A more benign reassessment of the possible economic risk posed by Omicron sent stocks sharply higher last week.

The Dow Jones Industrial Average picked up 4.02%, while the Standard & Poor’s 500 advanced 3.82%. The Nasdaq Composite index gained 3.61% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, rose 2.74%.1

This Week: Key Economic Data

Wednesday: Retail Sales. FOMC (Federal Open Market Committee) Announcement.

Thursday: Jobless Claims. Housing Starts. Industrial Production. PMI (Purchasing Managers’ Index) Composite Flash.

This Week: Companies Reporting Earnings

Thursday: Adobe, Inc. (ADBE), FedEx Corporation (FDX), Lennar Corporation (LEN).

Friday: Darden Restaurants, Inc. (DRI).

1. The Wall Street Journal, December 10, 2021