Andy: How to Take Risks Wisely

October 15, 2019 |
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Getting Real About Risk

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Andy, Christian Pastor

To really help your clients, you need to fully understand your clients, including their fears about taking risks. Finance has specific formulas for risk, but risk can be considered from a broad range of perspectives. I am speaking with Andy, a Christian pastor, with interesting insight into the challenges of dealing with risk.

Risk taking can be difficult for many people, because their personal identity is tied to each decision’s outcome. If everything does not go well, they blame themselves. However, every decision we make involves some uncertainty or risk. Being secure in one’s self identity, independent of the outcome of every decision, makes taking risk easier.

Appropriate risk levels change during one’s lifetime. Depending on family and other circumstances, there are seasons for taking reasonable risks and times for taking only conservative risks. In any case, investments should be aligned with your values.

Taking investment risk can be especially challenging for non-financial professionals who have less access to the information required to make good investment decisions. Finding good investment counsel then becomes essential.

As financial advisors wanting to provide great client service, understanding how your clients view risk is essential. Attavita Risk determines appropriate individual investment risk levels, based on each investor’s risk preference, risk capacity and risk/return needs in an easy and intuitive way. Investor preferences, based on their values, are also determined. As client’s circumstances change, Attavita Risk can recalibrate the appropriate investment risk levels. Attavita Risk enhances client service, in both the short and long term.

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