The First Client Meeting: Are You Making Any of These 10 Common Mistakes?

The First Client Meeting - 10 Common Mistakes

It’s all too easy to slip up in the first meeting and lose any opportunity to open the account – and this is especially true for new advisors.

In this post we’ll help you identify mistakes you could, without realizing it, be making. Take an honest appraisal – do you recognize yourself doing any of the following? If so, take action to fix these mistakes.

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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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How to Prepare Yourself for Market Corrections

How to Prepare Yourself for Market Corrections

Stocks will edge higher, sometimes for prolonged periods of time, but this should never give rise to complacency. Because there’s always a ‘bear market’ waiting just around the corner.

Don’t get caught out when the markets start to fall. Prepare yourself in advance, both for your own peace of mind – and so you’re ready to reassure clients that there’s no reason to panic.

Here are some things you can do to make sure you’re in command when market corrections take place.

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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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6 Analogies to Use When Convincing Clients to Stick to The Plan

Stories and analogies are great ways to capture a client’s attention and get them to see things from a different perspective. When used correctly they’re highly useful tools to help persuade clients to act in the way you want them to. Analogies are especially effective because clients come to understand what you’re saying by drawing their own conclusions.

Here are six great analogies to help your clients see that they should stick to the plan.

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4 Things Clients Need to Know about Volatility

When markets are volatile investors can get spooked and start to question their investment strategies. Especially if they’re new to the process of investing. This could prompt them to withdraw from the market and wait on the sidelines until things get better.

As their financial advisor you’re there to help them see things in perspective. By helping them understand the nature of volatility they will find it easier to stick to their plan.

Here are four things about volatility you need to explain to them right away.

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What Clients Need from You to Stick to The Plan

To get clients to stick with their long-term investments you need to get inside their mindset and understand how they think and feel. If you know how your clients will react in the face of market volatility, you’ll be ideally placed to counter their concerns. If you understand what they need from you in terms of maintaining a long-term relationship, you will know which soft skills to focus on.

Here are a few things clients need to help them persevere with their long-term investments.

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5 Things That Could Ruin Your Clients’ Trust in You – in Seconds

It can take many years before clients come to know you and trust you, and during this time you’ll need to work hard to win them over. In order to earn their trust, you’ll need to demonstrate exemplary behavior and deliver a service that goes above and beyond.

But that’s not where it ends. It may have taken you years to build up trust but it takes just seconds to break it down. Just one slip and all that hard-won trust is gone forever. Make sure this doesn’t happen to you by avoiding the following behaviors.

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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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How to Get Clients to Stick to the Plan

It’s crucial that you get your clients to stick to the plan. If they don’t, they could forgo their comfortable retirement or build up debt when they put their kids through college. Your responsibility, as their financial advisor is to keep them on track. Here are three effective ways to do that.

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