Advisers try to stay neutral and focus on portfolios, but it's
not always possible in highly charged times
Financial advisers may try to avoid talking
politics with clients, but clients rarely miss a chance to engage advisers
about how the election might affect their portfolios. That starts a delicate
conversation.
"My clients tend to be very
political," said Kyle Jackson, senior wealth manager at Jackson Wealth
Advisors in Ada, Okla. "We have political discussions in many of our
meetings."
Like many advisers, Mr. Jackson steers clear
of advocating for one candidate or party.
"When I talk to clients, I'm very matter
of fact," he said. "I see good and bad on both sides, at times."
Justin Brownlee, owner of Brownlee Wealth
Management in Woodlands, Texas, said clients often ask him about the election.
He doesn't take political sides but rather focuses on how particular policies
could affect a client's finances.
"I don't row the boat in either
direction," Mr. Brownlee said. "If it affects your financial plan,
here's what we're going to do about it."
Adam Van Wie, chief operating officer of Van
Wie Financial in Jacksonville Beach, Fla., tries to soothe clients regarding
political turbulence.
"I try to be as middle-of-the-road as possible,"
he said. "I try to remind my clients that the market has gone up under
presidents on both sides of the aisle. Business will find a way to make money
no matter who sits in the White House."
Leon LaBrecque, chief growth officer at
Sequoia Financial Group in Troy, Mich., calls himself a moderate. But even that
political label has landed him in hot water.
"I've occasionally offended conservative
clients by being too moderate, and, occasionally, have offended liberal clients
by being too moderate," he said. "I try to stay neutral. You can't
just say I don't want to talk about it. You're not being genuine. Politics does
have an effect on your wealth."
It's almost inevitable that some political
conversations will go wrong.
"As careful as I am, I still can tend to
catch clients at tender moments," said Michael Farr, chief executive of
Farr Miller & Washington in Washington, D.C. "And when I do, I
apologize immediately and profusely."
Some advisers who are outspoken in their
political and policy views say their clients take it in stride.
"They know I'm genuine about what I feel
and believe," said Carolyn McClanahan, founder of Life Planning Partners
in Jacksonville, Fla. "For me, it's not ideological. It's a
problem-solving approach."
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