By Curtis Brown
How often to you reach out to your clients? If you only schedule a once or twice a year review you might be receiving a volume of calls during times of uncertainty in the geo-political or economic environments. Clients today receive a lot of conflicting information from the talking heads on televison and in print, well-meaning emails trying to sell them something, and just gossip on Facebook, Instagram, TicTok and others. They are barraged by these conflicting messages every hour of the day and don’t quite know who to believe.
This can create an atmosphere of fear and anxiety. Just this week in one hour the markets went from 3% down to 9% up then down to even just on one person’s fake news that was reported and distorted across the news.
What Can you do?
During challenging times, when the markets are very volatile communicating with your clients is very critical. Part of this communication involves active listening and showing empathy. Understand where their anxiety is coming from.
- Your role is to be an active listener, provide a sense of calm and stability, especially in an environment that clients may seemingly feel their hopes, dreams and retirement savings are threatened. Listen to their concerns.
- Have regularly scheduled meetings with your clients – both as a group and individually. This will go a long way in developing confidence and reassurance that you have everything under control.
- Provide historical references so they can compare their present situation with events from the past.
We have been through turmoil and crisis before, and we have always come through it. It is inspiring to experience the resilience and tenacity of humanity, especially Americans. You can turn turbulent markets into an opportunity to help your clients, and their friends weather the storm.
