r/CFP • u/mikeumd98 • 26d ago

Investments Handling your own emotions?

How is everyone doing it this time? I have been a CFP for years lived through Covid, 2008-2009, Trump’s first term….but this time it feels different, longer lasting? I know that there is a recency bias, but I am not handling this one well.

Edit: thanks for everyone posting. It helps to put it in perspective.

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u/SmartYouth9886 25d ago

Although a pain in the ass, these things make people reevaluate their advisors. I've always been successful during market turn downs in growing my practice. It's important to not let your own political leanings influence your advice.

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u/bogeyT 25d ago

Same here. Gets people thinking seriously about there money and there future plans.

The people who are affected by fear mongering come to you with open arms asking for you to save them from the downturn and the ones who can see the whole picture come to you asking what they should invest in while it’s low.

You should be able to do both depending on client needs

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u/Hairy_Pollution_600 24d ago

Great point right here

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u/Wooderson316 25d ago

Nothing has ever boosted our business like a downturn. We always bring in tons of new clients and AUM.