By Dan Klein, CEO

Financial advisors have a unique opportunity to have a meaningful impact on the future of their clients’ lives. Many advisors spend a lot of time helping clients identify and plan for their goals and develop thoughtful strategies that are designed to meet those needs. Right now, the markets are unpredictable – yes, I know that’s an obvious statement. Whether it’s the economy, trade, politics or interest rate related…who knows. The markets will behave the way they want over time and understandably no financial advisor has control over that. One thing is for sure – advisors do have total control over is how often they communicate with clients and how they keep their message on point in a client-centric way during these uncertain times.

Most advisors have very effective ways to meet and onboard clients but often don’t plan their communications for choppy markets and as a result may become reactive, and if they wait too long it’s just plain awkward when they do connect with their clients. Most clients don’t generally look for outside advice when the market is performing well, but when people get nervous or start to feel neglected they are more open to another advisor’s point of view.

Here are some points to consider when looking at how advisors can communicate effectively during choppy market times:

• Look to automate weekly touch points, at a minimum for all clients (and prospects). This is just a first step in freeing up an advisor’s time to provide the more personalized approach described in the next bullet.
• Schedule time during the day to call specific clients and speak with them directly to provide your thoughts on how recent market events will affect them and most importantly their future plans. Not doing this for even a few days will break this habit and honestly, is there anything more important than speaking with your clients?
• Play offense – speak to as many prospects as you can during these last few weeks of the year. Use this time to over communicate with prospective clients to demonstrate that you can be supportive when times get tough.

The biggest opportunity to bring in new clients is when the market is behaving this way. On the opposite side of the coin, make sure you are delivering your message to as many clients as you can during these times because your best clients are another advisor’s top prospects.