As you well know, not all clients are created equal, and some will have unreasonable expectations of an advisor based on inaccurate beliefs (or myths) about how the markets work or how to invest successfully. Let’s face it: Certain personality types also find it more difficult to admit they were wrong. In addition, inflexibility may be exacerbated as people age and become more set in their ways or if they’ve held the belief for a very long time.
Hence, if you try to change your clients’ beliefs, even if you know them to be based on an error in thinking or judgment, be careful. If they’re unreceptive, don’t push, or you might derail the relationship.