When the markets are up, when client accounts are growing smartly, calling with good news is easy. During periods of "downside volatility," on the other hand, making that contact is probably even more important. Here's a piece from Financial Planning on how to handle the task.
I'd like to suggest that this might be a particularly good time to put Merrill Anderson's Financial Planning Ideas 2008 to work for you. As it happens, in this edition we devote three pages to the the topic of portfolio volatility; the first page is pictured above.
To learn more, send an email to jgust@merrillanderson.com with "FPI 08" in the subject line.
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2 comments:
Timely suggestion, and not only for defensive reasons.
When the S&P is soaring, clients see little need to chat with their investment advisers. But when the going gets rough, they seek and welcome handholding. Once you get them talking, watch for new-business opportunities:
Any rollovers or inheritances in the offing?
Any other liquidity events?
New estate planning needs?
"Financial Planning Ideas 2008" should be the ideal send-ahead or leave-behind in the quest to gain new business from existing clients.
I suppose you could even let HNWI's who aren't yet clients have a copy.
[Full disclosure: In a previous century, I compiled Financial Planning Ideas. My chances of receiving a sales commission on the current edition? About the same as the Giants' chances in the Super Bowl!]
interesting post
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