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By David RichmanManaging Director, Advisor Institute

It's election season and the 2024 presidential race is certainly ramping up. Something else may be ramping up as a result—the tendency to have a favorable economic outlook when your own political party is in office and a pessimistic one when the opposing party is in office.

You can help clients beware of partisan bias and maintain an apolitical investment approach by using a tried-and-true ism from Atlanta Capital's retired Managing Partner, Bill Hackney: "One's political views should never influence investment decision-making."

Clients will likely ask you to expand, one of the many benefits of isms. Your response should focus on policy implications, rather than political opinions. Such a response may sound like:

"Think about it. When you're considering selling a stock, remember that the market doesn't care about your cost basis. Similarly, the market doesn't care what your politics are. We need to remain apolitical when contemplating possible shifts in public policy and the potential implications for investing."

Bottom Line: Use an ism like "One's political views should never influence investment decision-making" to help clients see past their own partisan bias and maintain an apolitical approach to portfolio management during election seasons.