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With pandemic-related elements driving market volatility, advisors are likely rethinking their definition of risk. And it may be different from their clients’ definition, because most investors have never anticipated market turmoil to this extent. Risk comes in many forms: from longevity and inflation to worries about losing money. Clients have questions and expect advisors to have answers. A more realistic approach is to have a candid conversation and discuss options. Afterwards, advisors can then determine whether their client’s long-term goals and comfort with uncertainty has changed. Here are our top picks for articles on risk and how advisors can best guide their clients.

Financial Pros Offer Smart Investment Tips during the coronavirus crisis

Financial experts answered pressing questions on CNBC’s “Markets in Turmoil” including how do investors determine asset allocation and the level of risk that’s for them and how are you reassuring investors during this time?

Via CNBC

How Advisors Can Effectively Protect Clients From Scams

Scamming is a growing issue that affects many Americans. Seniors lose up to $2.9 billion every year to scams that are often designed to target older investors and prey on their vulnerability. With these numbers steadily rising, financial advisors need to be educated and proactive about how they can protect their clients from potential devastating scams.

Via Wealthmanagement.com

How Financial Advisors Talk About Risk

Financial advisors likely think about risk in various ways on a regular basis, but their definition of risk may be different from their clients. Many clients may not have experienced a market decline as swift and deep as what we’re experiencing now. A discussion of risk needs to start with understanding the emotions that your clients are feeling.

Via The Street

Family Offices Should Take Actions On Risk Management

As more affluent individuals and families achieve the level of wealth of a family office—typically a net worth of at least $100 million—a shift in their risk management strategies should be examined. Family offices should take a deliberate approach to risk management that includes staying up to date on relevant threats, developing a strategic plan to address them, and establishing a trusted network of partners who can help meet their unique needs.

Via Financial Advisor Magazine

Crisis Test: Is Your Financial Advisor Really Helping You?

Stock market turmoil can reveal just how good you’re advisor is — and whether they put your best interests first. Here are some questions that could help you decide whether it’s time to look for an advisor who can live up to those expectations. First, have you even heard from your advisor?

Via Nerd Wallet