Teach Your Clients Not to Watch The Evening News

Teach Your Clients Not to Watch The Evening News

In our increasingly information-driven society, it’s your job to teach clients not to believe all they hear. They need you most of all when they’re being bombarded with negative news about the markets. Being exposed to excessive information without anyone there to guide them could see your clients making bad decisions regarding their investments.

Here are a few ideas how to make sure your clients stick to the plan despite what the media say.

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When to Call Clients to Keep Your Relationship Strong

When to Call Clients to Keep Your Relationship Strong

It can be tricky determining how often to contact your clients. While regular communication is key to maintaining a healthy relationship, calling clients every week or month probably isn’t feasible.

At the outset, aim to understand each client’s preferences and their expectations communication-wise and make sure it fits your business plan. Some clients will be more interested in the investment process per se and will want to hear your thoughts and recommendations on a more regular basis. You may also find that as time goes on and your clients learn to trust you, they will be more relaxed and require fewer calls.

However, there are certain times when calling your clients is the right thing to do regardless of any prior agreement. Here are some key occasions when you should pick up the phone and speak to clients.

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Remind Your Clients Investing Is a Marathon

Remind Your Clients Investing Is a Marathon

Despite regular and sometimes frightening dips markets continue to rise incrementally over time, continually setting new highs. The problem is that many clients disbelieve this; they panic when the market temporarily falls. As their financial advisor, it’s your job to keep them on track.

You need to get them over their short-termism and make them see that their focus should be on 20, 30 or 40 years from now – not on this afternoon or next week.

Use all the tactics at your disposal to illustrate that investing is a marathon not a sprint.

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5 Tactics to Get Prospects off The Fence

5 Tactics to Get Prospects off The Fence

Breaking a prospect’s apathy is difficult.

Telling someone to invest or think long term is like telling someone to be patient. And telling someone to be patient simply doesn’t work. Instead you need to ‘teach’ prospects what long term investing really means. Use stories and analogies to stir emotions, curb their impatience and give them reasons to invest. Here are five ways you can do that and help prospects get off the fence.

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Educate Clients What It Really Means to Invest

Educate Clients What It Really Means to Invest

No matter how inherently intelligent your clients may be, never assume they have a clear understanding of what ‘investing’ really involves. For many people a financial plan consists of having money in an account that continually goes up in value. To them, a share of stock is a lottery ticket, no more and no less.

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