Name: Effective Ways to Manage Client Behavior
Uploaded: 2026-02-10T16:00:00Z
Duration: 3 min 5 s
Description: When educating clients, “raw data definitely does not work,” says Nancy Daoud, CEO of Opus: Advice First, a private wealth advisory practice of Ameriprise Financial Services. Instead, she favors examples and analogies to bring concepts to life.

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When educating clients, “raw data definitely does not work,” says Nancy Daoud, CEO of Opus: Advice First, a private wealth advisory practice of Ameriprise Financial Services. Instead, she favors examples and analogies to bring concepts to life.

https://m.wsj.net/video/20260210/1cab7ec3-d9ae-47c6-8bdd-5e9abbb40411/1/hls/manifest-hd-wifi.m3u8

Effective Ways to Manage Client Behavior

Predominantly what we do is education and managing human behavior in making life decisions, important life decisions. The whole financial piece of our business is the easier part, quite frankly. So the education process is very, very important because the more people are informed about what's going on and being proactive about informing clients about what's going on, then they feel a lot more comfortable. But clearly experience is the best, because once they've experienced both ups and downs, they recognize that this stuff happens, and it's gonna be okay. So it's managing the behavior has been so, so interesting. But we use examples, we use analogy. I mean, when I explain asset allocation to a brand-new client who really doesn't understand any of it, I always use the whole recipe approach, which every financial advisor knows about this. If you do any cooking, you have to have the right amount ingredients, I'm sorry, the right ingredients, the right amount of each ingredient, and they have to work well together. And if you don't have all those three components, you don't come out with the same thing. In fact, it could make you sick.

Exactly.

And so will investments. So when somebody forgets that part and they call up and say, "Well, this part of my portfolio is doing really well, but that's really tanking. Can we just change that?" And I say, "Nope, you're messing with the recipe now," and it's not going to taste the same, because everything has its day in the sun, and you have to just stick to the recipe. You go too far off the mark and you will not achieve the desired target that we set out to achieve.

I like that example. And that actually partly anticipates a question I was gonna ask you, which is, when you're trying to reassure clients that things will be okay, not to worry, I was gonna ask you, if stories, or anecdotes, or examples like this are more effective in terms of assuaging their concerns, or if raw data works, just curious, what have you found tends to like resonate with your clients?

Raw data definitely does not work.

Mm, interesting.

Yeah. Nobody cares about charts, or graphs, yeah. It's all about everyday living. Everybody eats, everybody cooks, so they understand the recipe approach very well. Sometimes I will even try to relate it to that person's profession or something that they, and this is where getting to know the individual and the family becomes so important, because you could relate everything to something that they feel deep down in their heart in their everyday life.

That's a great point to keep in mind, what matters most, what motivates them, and try to align your advice with that.