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Turning Volatility Into Positivity
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The scenario is one that every advisor has faced: The market takes a tumble and clients are on the phone, wondering what's happened to their money, what the advisor is doing about it, and generally looking for assurance that all isn't lost.
"This is all driven by the fear of future loss," said Steve Wendel, Morningstar's head of behavioral sciences. "When someone has that fear, it's perfectly reasonable to call their advisor. And advisors have a key role as behavioral coaches to help their clients through moments like this."
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