The so-called fear index or VIX spiked to 29 in February before dropping down to current levels around 15. Peter Mallouk, chief investment officer of Creative Planning, said the key to calming investors during such stormy markets is to educate them. 'The typical client is fearful, their frame of reference is 2008 and 2009 so the last time they experienced cracks they saw the bottom drop out," said Mallouk. "A lot of them are being pulled to take the wrong kind of action so we are big on educating them not to do that.'