When Markets Are in Transition

When Markets Are in Transition

The stock market is not static. It’s always in transition, more often than not triggered by economic uncertainty.

Listen to this 1-minute audio or read the transcript below to hear an idea about calming clients’ fears and refocusing them during times of uncertainty.

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How to Assure Clients That Volatility Is Part of the Strategy

How to Assure Clients That Volatility Is Part of the Strategy

Unquestionably, the stock market has experienced extreme volatility in the last couple of years, elevating the anxiety levels of investors who grew complacent throughout a historic 11-year bull market. Just as they did throughout the wild gyrations of the 2008-2011 market, investors have grown intolerant of the recent, wild stock market gyrations, resulting in many choosing to make wholesale changes to their portfolio, switch financial advisors, or flee the market entirely.

But, what investors may not understand is that switching between asset classes to avoid volatility can actually have the opposite effect. It is incumbent upon financial advisors to help their clients understand that, with a sound investment strategy and a long-term perspective, volatility can actually be good for a stock portfolio because it has always been the primary force that drives market gains over time.

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What Is Buyer’s Remorse and How to Overcome It in 3 Easy Steps

What Is Buyer’s Remorse and How to Overcome It in 3 Easy Steps

Buyer’s remorse is defined as ‘a feeling of regret experienced after making a purchase – typically one regarded as unnecessary or extravagant’ (Oxford Dictionary).

Most of us have experienced this type of feeling at some point – maybe after buying a pair of expensive shoes that with hindsight we considered an unworthwhile purchase.

But buyer’s remorse doesn’t just apply to shopping – it’s possible your clients might feel similarly disenchanted about their decision to hire you.

Make sure your clients don’t experience post-hiring disappointment by doing the following three things.

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Three Situations when Analogies Can Help Allay Clients’ Concerns

Three Situations when Analogies Can Help Allay Clients’ Concerns

As their advisor it’s your job to stop clients from worrying unnecessarily and making bad decisions. You need to find a way to check their behaviors and reassure them that they should follow your lead.

Analogies are a great way to allay clients’ concerns and get across why what you say makes perfect sense. Here are three situations where it will pay you to use analogies to keep things on track.

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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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Be Prepared – Don’t Ever Run and Hide

Be Prepared - Don't Ever Run and Hide

What do you do when the market takes a turn for the worst? Do you wait for the storm to pass and simply do nothing – or do you reach out to clients and reassure them things will get better? According to recent research carried out by Financial Advisor Magazine failure to communicate with clients on a timely basis is the number one reason advisors lose clients. The upshot is you need to be prepared to talk to clients both in the good times and the bad times.

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How to Make Sure Your Message Sticks

How to Make Sure Your Message Sticks

We tend to forget most of what we’ve been told within a week, unless that message has been repeatedly reinforced. So, unless you reinforce your messages and deliver them in an interesting way, there’s little chance clients and prospects will digest your information and act on it. There are however some key ways to make sure your messages are understood and remembered.

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