By: Paul Brent | The Globe and Mail | Oct 29, 2019
Read More, and see what Scott Plaskett says about For investors, too much information can be a dangerous thing
The internet has revolutionized how we communicate, learn and share. Knowledge that was previously difficult or expensive to acquire is now a click away. Yet, too much information can also be dangerous. What happens when clients think they know better based on their own online searches and want to make financial decisions accordingly? Or when they become overwhelmed by the volume of advice?
That can be a challenge for financial advisors. You may not be able to stop clients from searching various products and strategies online, but you can help them separate the meaningful from the trivial, bring clarity and keep choices anchored to a plan.
That’s what Scott Plaskett, senior financial planner and chief executive at Ironshield Financial Planning in Toronto, does. Mr. Plaskett says clients might learn about an investment opportunity online that he sees as more of a gamble. That gives him the chance to educate and help them reconsider what they happened to stumble upon.
