It's time for your risk checkup

Today, more than ever, financial advisors are working with their clients to better understand the inherent risks in their portfolios. Year-end face-to-face client meetings are key because

they allow advisors the opportunity to set realistic expectations about that risk. Serdarbayraktar | Getty Images I caught up with several advisors at the recent Schwab Impact conference in

Denver to discuss what is top-of-mind with their clients. The advisors explained that a real financial-risk discussion is what their clients want. It's the time to take the

client's pulse to check on his or her tolerance. These also are the conversations that build trust, advisors say. The advisors I spoke with also said they use these face-to-face

meetings to help clients conquer some of their fears. Read MoreAdvisors quell clients' 2015 fears To that point, they ask clients which competing risks they are willing to accept: Are

they willing to accept the risk of not retiring on time? If not, are they willing to take on more portfolio risk? It's all about getting a better sense of the risks a client is actually

willing to take. Advisors' clients are also urging them to have conversations about tax issues, market volatility, inflation and low interest rates. The focus is on how all this will

impact their long-term investments strategies as they head into 2015.