Sometimes I wish I had listened to my Mom and studied medicine.  She figured I would make a cute doctor, which I am not sure is reason enough to have become a doctor, but moms usually know best.  That said there are certain similarities between what I do and that of a doctor.

We both work with people on a one to one basis the only difference is my people are clients and the doctor’s people are patients.  We both have a very personal relationship with our people based on trust, keep in mind we are taking care of the two most important aspects of anyone’s life their health and their money.  There is nothing more personal than dealing with someone’s money unless it comes to their health.  Unfortunately this is where the similarities end and the frustrations of the financial planner begin.

When the doctor prescribes a course of medicine the patient obediently takes his medication until he is healthy.  The client however has his own ideas on investing based on what he has heard at the golf club, read in the press or surfed on the net.

The wealth manager must continually convince the client that he has “prescribed the right medicine” and that they should continue taking it.  The fact that equities have proven to be the best long-term performing asset class over the last 100 years is quickly forgotten when the markets hit a rough patch.

Wealth Management is all about managing emotions (fear and greed) and expectations.  Unfortunately unlike a psychologist you cannot have your clients committed to protect them from themselves.


Mark Williams
Mcomm, CFP®, HdipTax
T. 021-851 3746


Managing fear and greed
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