In times of crisis, advisors need to keep their clients informed and calm. As seen in the COVID-19 pandemic, investors from all walks of life can easily become frantic and emotional following any news of politics, vaccines, etc. These investors, such as your clients, can easily be overwhelmed. It is your responsibility as an advisor to keep them calm to ensure that their investments are not being made through emotions and panic. To learn tips you can use to keep your clients calm and comfortable in times of stress, keep reading the article below.
1. Reassure your clients
Reassurance from an expert is the best remedy in uncertain times. This means breaking down your client’s portfolio to show them their strengths and weaknesses. Additionally, explaining the future implications of their current positions based on your observations of the current market trends. By doing this, your client will understand their investments more by knowing where they are vulnerable. Keeping them informed on their positions should always be the first step in comforting your clients as it will avoid misunderstandings and get them a mental image of where they stand.
2. Update them on market trends
You should frequently contact your clients on the trends you see in the markets and how it will affect their investments. However, do not overwhelm them with information to add to their everyday stress. Instead, you should only update them on trends worth noting and which will not confuse them. This could be product releases, innovations, or anything related to their investments. When you do this, you should approach them with concrete facts instead of speculations and assumptions. This will ensure that your clients are kept up to date with relevant information and help ease the stress.
3. Be understanding and listen
Hear out your clients. Let them tell you their concerns and approach them with an understanding tone. Knowing their worries will help you to understand their perspective and how to interact with them in the future regarding their investments. Also, sometimes you can catch wrong assumptions and correct them if needed. By doing this, you will know where they stand, and they will know where you stand. If done correctly, your clients could walk away from the meeting feeling better than they did before.