The news may be depressing, the markets jittery and it’s getting harder to feel optimistic. So, what should advisers do? Here are 5 ideas to help you survive and thrive:
1. Contact your clients – now is the time to continue to be proactive; if clients continually contact you, you will be constantly on the back foot. Send regular emails with market and fund updates where you can put your own positive spin on the content.
2. Exude confidence with your clients – clients are paying you to keep them calm during these turbulent times – they are not paying you to commiserate with them.
3. Have some value-added information to share with your clients – whether internal research reports or forecasts, or external, show clients that you are taking the time to keep on top of things and that you do have a positive viewpoint.
4. Turbo charge your marketing activities – winners and losers always emerge from market turmoil – the clients of all of those advisers who are not calling and are hiding under the table will be looking for new advisers at some point.
5. Communicate, communicate, communicate – make sure that your communications prominently display your value proposition and mission statement so that clients never forget why they are dealing with you.