Ryan Detrick’s experience with the stock market goes back to 1999, during the dot-com boom – and subsequent bubble burst.

“It was really fun, and everybody’s making money,” Ryan says. “… Then everything crashed.”

But Ryan learned some valuable lessons from that crash, including that in times of market turmoil, not everyone stands to lose.

“I realized, ‘Oh, my goodness, people made money on the way down,’” he says. “Not just a little bit of money, but a lot of money. And I realized the way the markets worked, the psychology behind it. Every day is different every day.”

That realization ultimately led Ryan to the financial services industry, where he recently left one of the largest broker-dealers in the country to join Carson Group as the Chief Market Strategist.

“I just realized, you know, I want to I want to have fun, right?” he says of joining Carson. “I enjoy what I do. I love getting out there and creating content and talking with people about markets and helping an investment team try to form its philosophy and how to see the world.”

In today’s episode, Ryan sits down with Jamie to talk about the markets and the risk of recession, what led him to Carson and the impact he hopes to have, and why it’s always OK to ask for help.

Key Takeaways

  • During the four-year presidential cycle, the midterm year (like 2022 is) often has the largest peak-to-trough market correction.
  • In times of market volatility, advisors should be proactive in reaching out to clients and reassuring them that these sorts of ebbs and flows in the market are relatively routine and not a reason to panic.
  • Don’t be afraid to ask for help when you need it, and always be willing to pay it forward when you’re in a position to help someone else.

Quote

“The impact I think we can have helping our advisors, helping their clients, just helping the industry in general – there’s so many people out there that make it confusing and make it difficult to understand or hype-y and extremely negative, and we’re gonna be realistic.”

Links

Carson Group is committed to advancing financial literacy. Our coaches work with thousands of FPA members. Schedule a consultation to learn how Carson can help you help your clients and grow your business.

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