How to Prepare Your Clients for The Next Market Correction

How to Prepare Your Clients for The Next Market Correction

The Natixis Investment Managers 2018 Global Financial Professionals Survey revealed that 57% of advisors believe investors are unprepared for a downturn. This illustrates how difficult it is to convey the nature of turbulence to clients – and that volatility is an unavoidable part of the investment process.

Take the lead – prepare and educate your clients on the nature of market volatility. Then it will be far easier to counter their anxiety when the next market correction comes.

Here are 5 things you can do right away.

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Being Accountable May Be The Key to Your Success

Being Accountable May Be The Key to Your Success

Being accountable will benefit not only your business, but every aspect of your life. Being accountable to yourself will help you focus your attention on your performance, encouraging you to set and achieve personal goals. Being accountable to your clients will help you keep them on track and invested.

Here’s how being accountable will help you succeed as a Financial Advisor.

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4 Misconceptions about Market Volatility Your Clients Need to Be Aware of

4 Misconceptions about Market Volatility Your Clients Need to Be Aware of

As a financial advisor it’s your responsibility to get your clients to stick to their financial plan for the long term. This means you’ll need to change any pre-conceived notions they may have about market volatility. In particular, you need to get across that volatility does not equate to risk or loss.

Here are some common misconceptions about market volatility your clients may have and how to address them.

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4 Reasons Why You Should Prepare Your Bear Market Presentation When The Market’s High

When the market declines your clients will no doubt be aware of the simultaneous fall in the value of their portfolios. And they will be concerned. Human nature dictates this. That’s why when the time comes, it’s crucial that you are prepared to counter their insecurity with reassurance. You must be ready to instill them with confidence that their investments are secure.

If you run and hide when the markets tumble (like a surprising number of advisors do), your clients’ fears will multiply. As a consequence, they could end up making a bad decision about their investments – or about working with you.

So, make sure you’re ready to step into the breach by having your presentation ready to hand. Here are four reasons why you should prepare that presentation right away.

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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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Believe in Your Value and Never Do These Three Things with Clients

Believe in Your Value and Never Do These Three Things with Clients

When prospecting see yourself as the professional consultant you are. Your job is of the utmost importance – you’re there to safeguard your clients’ financial future. It doesn’t get much more important than that and you are due respect.

So, if you find you’re fighting to win new clients, rushing through a presentation or apologizing for asking for the order, take a step back. Understand that you add value to your clients’ lives. Because of you people will be able to retire comfortably or get their kids through college. Your clients should feel privileged to do business with you, not the other way around.

Here are three things to avoid doing with 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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What Really Is The Job of a Financial Advisor?

What Really Is The Job of a Financial Advisor

To be an elite advisor you obviously need technical knowledge and expertise. But, just as importantly, you must possess superb soft skills. Your role is to change your clients’ lives for the better and you can only do this if you can effectively communicate with them. To do your job properly you need to get across to people the importance of investing, and why you are the perfect advisor to oversee their investment plan. Here are three aspects of your job as a Financial Advisor that should never be overlooked.

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