Learning how to handle stressed clients

Deal with clients at tense moments in their lives requires first-hand experience

Oct 5, 2014 @ 12:01 am

By Mark Schoeff Jr.

In her first 10 weeks in the financial advice profession, Amanda Moore learned that advisers deal with clients at tense moments in their lives.

Ms. Moore, 23, a resident in financial planning at Cornerstone Wealth Advisors in Edina, Minn., is often the first person clients speak to when they call the firm. Sometimes they're in emotional upheaval over a traumatic event.

“You have to be the one that's composed and not stressed out,” Ms. Moore said. “I've learned to comfort them. I've tried to understand the facts and slowly go through the process with them before getting their adviser on the phone. I've developed a lot of personal relationship skills.”

(Know someone looking to enter the advice business? Send them to the InvestmentNews NextGen Virtual Career Fair on Nov. 7)

MORE LATITUDE

Since InvestmentNews last talked to Ms. Moore in June, she has been given more latitude by her supervisors and works on her own on tasks such as tax projections.

“It's a little more independent, which is scary at times,” Ms. Moore said.

She's also honed her ability to multitask. She may have to juggle three incoming phone calls and a dozen e-mails while placing trades. Sometimes she fumbles, such as making a trade for 100 shares instead of $100.

The experience has taught her the importance of attention to detail, a skill she thought she had mastered at Virginia Tech, where she earned a degree in finance with a financial planning specialization.

“Nine out of 10 times, I made a mistake when I was rushing,” Ms. Moore said. “I've learned about changing from the classroom to the professional world and what that means. I'm used to the standard of X and now the standard is Y.”

Her bosses are understanding and know that she's learning, Ms. Moore said.

She's also become a valuable conduit to Cornerstone's next generation of investors. She has sat in on a number of client meetings that focused on their children. She is like an older sister who can connect with them about finances in a way that a lecturing parent can't.

“I really enjoy working with young people who haven't started their financial lives,” Ms. Moore said. “There's a lot of opportunity to teach people about personal finance and help create good habits.”

0
Comments

What do you think?

View comments

Most watched

INTV

Young advisers envision a radically different business in five years

Fintech and sustainable investing are two factors being watched closely by some of the 2019 class of InvestmentNews' 40 Under 40.

INTV

Schwab's Jeff Kleintop: Prep for volatility given China trade uncertainties

China could be considered a developed market in five to seven years , according to Jeff Kleintop, chief global investment strategist, Charles Schwab.

Latest news & opinion

TIAA exits the life insurance business

The move is a big deal for RIAs, experts say, since TIAA was one of only a few insurers to offer fee-only life policies.

Advisers step up efforts to help clients manage student loan debt

As some Democrats campaign to wipe the slate clean, financial planners focus on limiting the amount students borrow.

Funding for Reg BI, other SEC advice reform efforts denied in Waters amendment

House likely to approve measure that effectively kills rule package, but it faces uphill battle in Senate

Wall Street lashes out at Sanders' plan to pay off student debt with a securities trading tax

Financial pros argue that a transaction levy will hurt mom-and-pop investors along with investment houses.

GPB paid B-Ds and reps steep commissions to sell troubled private placements

GPB paid commissions of 9.3%, or $167 million altogether, on the firm's private placements.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print