Mr Nervous Nellie,  this is why we have a LONG TERM strategy that we both agreed upon and felt comfortable with.  Remember how we decided on this together?  Rememeber how I said that the market will hit bumps along the way?  If you can't stomach the volatility, perhaps we need to look at a product that can take advantage of the market's upside while protecting your assets by locking in gains........

I haven't really had to say it, but this is how I equate it:

"Are you a golfer?  (If not, stop here before you look dumb)

What do you do when it's pouring and lightening out?  You sit tight and ride it out until it stops.  That's what we need to do here; let's just be patient and consider the long term".

If they don't understand that, you can tell them this:

"Sit down, shut up, and hang on".

[quote=snaggletooth]

I haven't really had to say it, but this is how I equate it:

"Are you a golfer?  (If not, stop here before you look dumb)

What do you do when it's pouring and lightening out?  You sit tight and ride it out until it stops.  That's what we need to do here; let's just be patient and consider the long term".

If they don't understand that, you can tell them this:

"Sit down, shut up, and hang on".

[/quote]

Another youngster who confuses blind luck in a bull market with a grasp of the true risks of investing.

Where do you suppose your average client's pain point is?  If he loses 50% will he be willing to hold on?

[quote=Devil’sAdvocate][quote=snaggletooth]

I haven't really had to say it, but this is how I equate it:

"Are you a golfer?  (If not, stop here before you look dumb)

What do you do when it's pouring and lightening out?  You sit tight and ride it out until it stops.  That's what we need to do here; let's just be patient and consider the long term".

If they don't understand that, you can tell them this:

"Sit down, shut up, and hang on".

[/quote]

Another youngster who confuses blind luck in a bull market with a grasp of the true risks of investing.

Where do you suppose your average client's pain point is?  If he loses 50% will he be willing to hold on?

[/quote]

Obviously you didn't sense my sarcasm.  I didn't know I had to put in these emoticons for you:

I like the golf analogy. Good one.

[quote=snaggletooth]

Obviously you didn't sense my sarcasm.  I didn't know I had to put in these emoticons for you:

[/quote]

Regardless I asked where you think your typical client's pain point is? 

Do you really believe that a guy who watches half of his assets evaporate is going to listen to the advisor who recommended those investments tell him to "hold on."

Will you feel any pangs of guilt if some of your clients take substantial losses?

If somebody has to forego their dream because what you put them in didn't work out will you smile at them and tell them that Sith Happens and that they should suck it up?

[quote=Devil’sAdvocate]

[quote=snaggletooth]

Obviously you didn't sense my sarcasm.  I didn't know I had to put in these emoticons for you:

[/quote]

Regardless I asked where you think your typical client's pain point is? 

Do you really believe that a guy who watches half of his assets evaporate is going to listen to the advisor who recommended those investments tell him to "hold on."

Will you feel any pangs of guilt if some of your clients take substantial losses?

If somebody has to forego their dream because what you put them in didn't work out will you smile at them and tell them that Sith Happens and that they should suck it up?

[/quote]

Where are you coming up with 50% losses from?  Everyone has different tolerances for risk.  What are we down now....like 4.6% thanks to today?!?!  You obviously have some poor grannies pissing their pants if you're so worried about this.  So the market may correct a full 10% or 15%, how am I going to feel about a guy who losses 50%?!?!?!  Are you kidding?!?!?  If I had a client lose 50%, he'd better be one helluva risk taker...and if he was, he would know that that kind of loss is possible.  If I have someone who invests in everything except individual stocks, it would be very difficult to suffer that kind of loss...so I wouldn't feel like sh*t for that.  If I picked stocks for him and the stocks went bankrupt because I didn't do my due diligence, I would feel like sh*t.  There are some things that are out of our control, that's why we invest intelligently, diversify, and make educated guesses.  I have no problem telling people to cut their losses if there is one.   

You take your original question which is about holding someone's hand through an almost 15% correction and then come back with 50% losses.  You're nuts.  Of course I would say something different to a person who loses 50%.  Here is a sampling of what I might say:

"Sell the house, buy a trailer park home"

"We can always do a reverse mortgage"

"You still own the same amount of shares as before"

"We should've shorted everything...my bad"

"I guess I should've listened to AllReit and invested solely in TIPs"

"Blow me"

"Fire me"

[quote=Devil’sAdvocate][quote=snaggletooth]

I haven't really had to say it, but this is how I equate it:

"Are you a golfer?  (If not, stop here before you look dumb)

What do you do when it's pouring and lightening out?  You sit tight and ride it out until it stops.  That's what we need to do here; let's just be patient and consider the long term".

If they don't understand that, you can tell them this:

"Sit down, shut up, and hang on".

[/quote]

Another youngster who confuses blind luck in a bull market with a grasp of the true risks of investing.[/quote]

Another old fart who washed out as an FA, took the lifeboat of middle management, and thinks his opinion actually means something to people doing the work he couldn't....

[quote=snaggletooth][quote=Devil’sAdvocate]

[quote=snaggletooth]

Obviously you didn't sense my sarcasm.  I didn't know I had to put in these emoticons for you:

[/quote]

Regardless I asked where you think your typical client's pain point is? 

Do you really believe that a guy who watches half of his assets evaporate is going to listen to the advisor who recommended those investments tell him to "hold on."

Will you feel any pangs of guilt if some of your clients take substantial losses?

If somebody has to forego their dream because what you put them in didn't work out will you smile at them and tell them that Sith Happens and that they should suck it up?

[/quote]

Where are you coming up with 50% losses from?  Everyone has different tolerances for risk.  What are we down now....like 4.6% thanks to today?!?!  You obviously have some poor grannies pissing their pants if you're so worried about this.  So the market may correct a full 10% or 15%, how am I going to feel about a guy who losses 50%?!?!?!  Are you kidding?!?!?  If I had a client lose 50%, he'd better be one helluva risk taker...and if he was, he would know that that kind of loss is possible.  If I have someone who invests in everything except individual stocks, it would be very difficult to suffer that kind of loss...so I wouldn't feel like sh*t for that.  If I picked stocks for him and the stocks went bankrupt because I didn't do my due diligence, I would feel like sh*t.  There are some things that are out of our control, that's why we invest intelligently, diversify, and make educated guesses.  I have no problem telling people to cut their losses if there is one.   

You take your original question which is about holding someone's hand through an almost 15% correction and then come back with 50% losses.  You're nuts.  Of course I would say something different to a person who loses 50%.  Here is a sampling of what I might say:

"Sell the house, buy a trailer park home"

"We can always do a reverse mortgage"

"You still own the same amount of shares as before"

"We should've shorted everything...my bad"

"I guess I should've listened to AllReit and invested solely in TIPs"

"Blow me"

"Fire me"

[/quote]

The market is down? I thought the market was up ytd? Oh, that's right, the market is correcting from its overheated condition. HMMM. yeah, I'm worried.

Maybe now is a good time for VAs. Partcipate in the upside, protect the downside, feel good inside? Maybe not a bad time to lock in today's high market value? Afterall, this bull has gray hair. It can't go up forever. At the very least, a conversation to have with every client, regardless of product or strategy solution offered.

[quote=snaggletooth][quote=Devil’sAdvocate]

[quote=snaggletooth]

Obviously you didn't sense my sarcasm.  I didn't know I had to put in these emoticons for you:

[/quote]

Regardless I asked where you think your typical client's pain point is? 

Do you really believe that a guy who watches half of his assets evaporate is going to listen to the advisor who recommended those investments tell him to "hold on."

Will you feel any pangs of guilt if some of your clients take substantial losses?

If somebody has to forego their dream because what you put them in didn't work out will you smile at them and tell them that Sith Happens and that they should suck it up?

[/quote]

Where are you coming up with 50% losses from?  Everyone has different tolerances for risk.  What are we down now....like 4.6% thanks to today?!?!  You obviously have some poor grannies pissing their pants if you're so worried about this.  So the market may correct a full 10% or 15%, how am I going to feel about a guy who losses 50%?!?!?!  Are you kidding?!?!?  If I had a client lose 50%, he'd better be one helluva risk taker...and if he was, he would know that that kind of loss is possible.  If I have someone who invests in everything except individual stocks, it would be very difficult to suffer that kind of loss...so I wouldn't feel like sh*t for that.  If I picked stocks for him and the stocks went bankrupt because I didn't do my due diligence, I would feel like sh*t.  There are some things that are out of our control, that's why we invest intelligently, diversify, and make educated guesses.  I have no problem telling people to cut their losses if there is one.   

You take your original question which is about holding someone's hand through an almost 15% correction and then come back with 50% losses.  You're nuts.  Of course I would say something different to a person who loses 50%.  Here is a sampling of what I might say:

"Sell the house, buy a trailer park home"

"We can always do a reverse mortgage"

"You still own the same amount of shares as before"

"We should've shorted everything...my bad"

"I guess I should've listened to AllReit and invested solely in TIPs"

"Blow me"

"Fire me"

[/quote]

I usually call in both good times and bad.  Noone has any issues.  Good asset allocation, great funds, and an exceptional financial advisor.

[quote=vbrainy] and an exceptional financial advisor.[/quote]

you finally took on a junior partner?