You're Not Taking Enough Risk

Josh Brown spoke with Allison Schrager, author of the new book, Worth the Risk: The Seven Myths That Keep Us From Taking the Chances We Need to Take. They discuss why Americans have become more risk-averse even as the world has become safer and more economically abundant. They break down why the things that feel safest—like holding cash and avoiding the stock market—can create risks of their own, how excessive caution can contribute to wealth inequality, and why technology, parenting, and the media have changed the way we think about uncertainty. (Listen)

Recruiting new advisors is an ongoing challenge for the industry. A lot of effort has gone into building the college pipeline for financial planning talent. Another approach is to recruit people later in the career looking for a new opportunity. The data in this piece argues that despite the higher upfront costs it may very well make sense to look for talent across the career spectrum.

Couples eventually find a way to communicate effectively, or else they won’t stay coupled. The same is true for advisors and their clients. Everybody’s brain works different, so it behooves advisors to communicate in a way that best fits the client. Today we have more communication modes, so there should be a way that works for everyone involved.