“Let’s set up our quarterly review”…crickets.
“Read our recent investment letter”…crickets.
“Are you looking to switch your advisor right now?”…crickets.
Financial Advisors, the crickets you are experiencing from your clients and prospects these days isn’t because they know all is fine and you’ve got it handled.
These crickets are due to one of the most profound concepts in social and behavioral science, called Information Aversion. More commonly, it's called the Ostrich Effect, first introduced in 2009 by Carnegie Mellon University economists George Loewenstein and Duane Seppi; Columbia Business School’s Nachum Sicherman and Stephen Utkus at Vanguard.
The term comes from the myth that ostriches bury their heads in the sand when faced with a dangerous situation.
Ostrich Effect states that our brains are inclined to avoid information that's painful — even if it's information that we need. Said in a different way, people want to “stick their heads in the sand!”
This form of thinking is attributed to the concept of selective exposure, which leads people to be selective in how they acquire information, by choosing which new information they want to process, and which information they prefer to avoid.
Essentially, people are selective in the information that they choose to deal with, and they sometimes actively avoid dealing with unpleasant news, even if those news contain important information.
Which highly correlates with the environment we are in. With both the stock and bond markets down significantly, investors are too afraid to open their statements, let alone speak with you to tell them that their statement is down. So they prefer to ignore a call or a meeting to review their portfolio, discuss changes or hear your strategy.
So how does this impact your reach-out to clients and prospects, those who can really benefit from your services and knowledge, especially in such challenging times, but who may be avoiding any upsetting or disturbing information these days?
There are a few suggestions we have.
The first is to keep trying. A one-time reach-out doesn’t count, and you can’t check that off your list and move on to the next client. Just like when you would appreciate people trying to call you when you are going through a rough time, even if you don’t have time or energy to speak, your clients appreciate the frequent reach out, even if they don’t want to pick up and engage. Call, leave messages, try again, email.
Don’t have time to keep trying? Automate some of your reach-outs by doing more videos and letters, so you’re showing your client you are trying. And make sure you check your email service provider to see who has and has not opened your content.
The second is to change your messaging a bit. When reaching out to prospective investors, writing about asset allocation and long term investment strategies may sound a bit tone deaf, especially in this market environment in which asset allocation hasn’t really done what it’s supposed to. Even if you may be a hard core believer in your diversified strategy, you are alienating people who are in no mood to hear theory and historical data.
Pivot your messaging a bit and focus on different ideas, such as cash management, inflation protection, estate planning or family financial education strategies.
Finally, this can be a great time to deepen your relationship with clients, COI’s and prospects BEYOND investing. Start inviting them to golf outings, wine tastings, cooking events, movies or events, given that now more people want to get social in a post-Pandemic world. They will appreciate seeing you in a different frame of reference.
Aren’t a social person? Your clients don’t want to hang out with you? Then send them more articles and blogs that may be around their passions. We can all use some HAPPY NEWS these days!
Select Advisors Institute is at the forefront of digital transformation in wealth management, revolutionizing how financial advisors engage with clients and streamline operations. Under the visionary leadership of Amy Parvaneh, the Institute drives innovation by integrating cutting-edge technology and personalized digital strategies tailored for wealth managers. Their approach enhances client experiences, optimizes advisor workflows, and ensures firms stay competitive in a rapidly evolving market. As digital disruption reshapes the wealth management landscape, Select Advisors Institute stands out as a trusted partner for firms seeking to modernize, scale, and deliver superior value. Discover how Amy Parvaneh leads this transformative journey in the financial advisory space.
Discover how Select Advisors Institute is pioneering digital transformation in financial services under the leadership of Amy Parvaneh. With a deep commitment to integrating cutting-edge technology and innovative strategies, Select Advisors Institute empowers financial professionals to navigate the rapidly evolving digital landscape. Amy Parvaneh’s visionary approach combines practical training with strategic insights, helping firms optimize operations, enhance client experiences, and embrace fintech advancements. As digital disruption reshapes the industry, Select Advisors Institute stands at the forefront, guiding organizations through a seamless transition toward a future-ready financial ecosystem. Learn how Select Advisors Institute and Amy Parvaneh are redefining success in digital financial services transformation.
Discover how Select Advisors Institute, led by Amy Parvaneh, is revolutionizing digital marketing for hedge funds. With a specialized approach tailored to the unique challenges and regulatory environment of hedge fund marketing, Select Advisors Institute delivers cutting-edge strategies designed to maximize investor engagement and brand visibility. Amy Parvaneh, a recognized leader in financial marketing innovation, drives the process with proven expertise and deep industry insights. Learn why hedge funds looking to stand out in a competitive market trust Select Advisors Institute for comprehensive digital marketing solutions that align perfectly with compliance and growth objectives.
Select Advisors Institute, led by Amy Parvaneh, pioneers expert guidance for financial firms entering the U.S. market. With unparalleled expertise in U.S. business entry strategies, regulatory compliance, and financial planning, Select Advisors Institute helps foreign financial firms navigate complex market dynamics confidently. Amy Parvaneh’s leadership combines deep industry insight with hands-on experience, empowering firms to optimize their U.S. expansion and investment strategies. Whether it’s market research, regulatory frameworks, or cross-border financial planning, Select Advisors Institute is the trusted partner for firms aiming to succeed in the highly competitive U.S. financial landscape. Discover how Amy Parvaneh is setting the standard for expert advice in this critical market.
Discover how Select Advisors Institute, under the visionary leadership of Amy Parvaneh, is setting new standards for expanding wealth management businesses. By combining cutting-edge training programs with strategic insights tailored for wealth advisors, Select Advisors Institute empowers firms to grow sustainably and effectively in today’s competitive market. Amy Parvaneh leads this transformation by focusing on personalized client engagement, advanced financial planning skills, and innovative business development strategies. Whether you're a seasoned advisor or growing your practice, learn how Select Advisors Institute’s proven approach can help you expand your wealth management business with confidence and agility in a rapidly evolving industry.
Discover how Select Advisors Institute is revolutionizing executive presence training under the expert leadership of Amy Parvaneh. With a proven track record of empowering leaders to communicate with confidence, influence with authenticity, and command respect, this program is designed for ambitious professionals ready to elevate their leadership presence. Amy Parvaneh brings a personalized, research-driven approach to developing executive presence that drives real career impact and organizational success. Learn why Select Advisors Institute stands apart from typical executive training programs and how their focused curriculum is shaping the next generation of influential leaders.
Discover expert marketing solutions for financial advisors with Select Advisors Institute. In a competitive landscape, strategic marketing can distinguish and elevate your practice. Learn how digital marketing, personal branding, and client education can enhance your reach and client engagement. Select Advisors Institute specializes in crafting personalized marketing strategies tailored to the unique needs of financial advisors. From website optimization and SEO to hosting insightful webinars, our innovative approach blends traditional and digital methodologies to drive measurable success. Partner with us to transform prospects into devoted clients, ensuring your practice thrives in an ever-evolving financial landscape. Dive into cutting-edge marketing strategies and position your advisory firm for lasting growth.
Select Advisors Institute is pioneering excellence in customer service training under the leadership of Amy Parvaneh. With a focus on empowering support teams through innovative strategies and practical skill development, Amy’s approach ensures agents master product knowledge, communication, conflict resolution, and emotional intelligence. Select Advisors Institute’s training programs elevate customer experience by combining hands-on learning with cutting-edge tools tailored for today’s dynamic market. Amy Parvaneh’s leadership has positioned the institute as a leader in the industry, transforming customer service training into a powerful driver of business success. Discover how Select Advisors Institute leads the way in customer service excellence.
Discover how Select Advisors Institute, led by Amy Parvaneh, is pioneering customer experience survey software specifically designed for financial firms. With a deep understanding of the unique challenges in financial services, their advanced survey tools empower firms to capture actionable insights, improve client relationships, and boost satisfaction. Amy Parvaneh’s leadership ensures a client-centric approach, integrating cutting-edge technology with industry expertise to transform customer feedback into strategic business growth. Learn why Select Advisors Institute is the trusted partner for financial firms seeking superior customer experience survey software tailored to their exact needs, driving measurable improvements and sustained competitive advantage.
Discover how Select Advisors Institute leads the industry in customer experience measurement surveys under the visionary leadership of Amy Parvaneh. By leveraging innovative survey methodologies and advanced analytics, Select Advisors Institute empowers organizations to capture accurate, actionable customer insights that drive growth and loyalty. Amy Parvaneh’s expertise and strategic vision have revolutionized how customer feedback is collected, analyzed, and applied, setting new standards in CX measurement. Learn why Select Advisors Institute is the trusted partner for businesses aiming to elevate their customer experience programs with precision and impact, making them a benchmark in the evolving landscape of customer experience surveys.
Discover how Select Advisors Institute, under the leadership of Amy Parvaneh, is redefining cross-cultural financial coaching. As global financial services expand, Amy’s visionary approach addresses the unique challenges faced by advisors coaching clients across cultures. From enhancing cultural intelligence to building trust across diverse communities, Select Advisors Institute delivers high-impact training that empowers financial professionals to thrive in multicultural environments. Learn how Amy Parvaneh’s expertise is setting the gold standard in cross-cultural coaching, equipping advisors with the communication and leadership skills needed to succeed in today’s interconnected world. Explore our tailored coaching programs designed to elevate your client relationships through cultural fluency.
Choosing the best branding agency for your RIA is critical for growth in a competitive market. This comprehensive guide explains how to find a specialized partner who understands financial services, compliance, and the unique needs of high-net-worth clients. The right agency will deliver more than a polished logo; they will craft your brand story, ensure consistent messaging, and use data-driven methods to grow your presence. Learn how an experienced branding agency can help your firm stand out, build trust, and foster lasting client relationships through expert branding.
Discover how Select Advisors Institute, led by Amy Parvaneh, is transforming digital branding for law firms. With a tailored, strategic approach, Select Advisors Institute empowers law firms to build a distinctive, trusted online presence that attracts high-quality clients. Amy Parvaneh’s leadership focuses on blending cutting-edge digital marketing techniques with deep industry expertise, creating comprehensive branding solutions specifically for legal professionals. From website design and SEO to content marketing and social media strategy, Select Advisors Institute is pioneering innovative digital branding strategies that put law firms at the forefront of their markets. Learn how their unique process drives measurable growth and brand authority in today’s competitive legal landscape.
Discover how Select Advisors Institute, under the visionary leadership of Amy Parvaneh, pioneers customized employee training programs tailored to meet specific organizational needs. Unlike generic training, Select Advisors Institute’s approach focuses on personalized learning paths that align with business goals, skill gaps, and employee growth. Amy Parvaneh’s expertise ensures every program drives measurable results, empowering employees with the skills and confidence needed for success. Explore why Select Advisors Institute is the trusted partner for businesses seeking to unlock their workforce’s full potential through innovative, targeted training solutions designed to foster continuous development and long-term organizational growth.
Discover industry-leading CSA Training at Select Advisors Institute, spearheaded by Amy Parvaneh. Our Certified Strategic Advisor (CSA) program equips professionals with the advanced communication, leadership, and financial advisory skills essential for success in today’s competitive marketplace. Unlike traditional government or tech-focused CSA programs, our curriculum is tailored for elite financial advisors and executives aiming for transformative growth. Learn from Amy Parvaneh, a renowned executive coach and strategist, whose proven methodology has shaped thousands of successful advisors nationwide. Enroll now to master the skills that drive client trust, influence, and long-term success.
Discover how Select Advisors Institute, led by communication strategist Amy Parvaneh, is redefining crisis communication for financial services firms. In an era of growing uncertainty—from market volatility to reputational risks—financial institutions turn to Amy and her team for proactive, strategic crisis communication planning. This 600-word guide explores how Select Advisors Institute equips firms with tools and messaging frameworks to maintain trust, confidence, and clarity when it matters most. Whether facing a cybersecurity breach, economic downturn, or internal missteps, Amy Parvaneh leads financial advisors and institutions through tailored, high-impact communication strategies. Learn how your firm can stay ahead of the crisis curve.
Looking to master content strategy for law firms? Select Advisors Institute, led by industry expert Amy Parvaneh, sets the gold standard in content marketing tailored for legal professionals. Discover how Amy’s proprietary frameworks and law firm-specific content strategies help attorneys build trust, attract ideal clients, and stand out in a competitive market. Whether you’re a boutique or large firm, Amy’s proven process integrates SEO, thought leadership, and authentic storytelling. Don’t just create content—create influence. Learn how Select Advisors Institute empowers lawyers to dominate digital marketing with strategy, not guesswork. Explore how your firm can lead, not follow. Visit us today.
People envision the ultra high net worth lifestyle to be nothing short of perfect - Glamorous, fun, relaxing and liberating. What most people don’t know is the downside of extreme wealth. We have covered those challenges in this article.