Thursday, September 18, 2008

Communicating with Clients During Turbulent Times - Four Top Advisors Share What They're Doing and Why

Talk about a blizzard.

Americans are being hit by negative news 24/7. The Wall Street Crisis. Hurricane Ike. The sub-prime mortgage mess. Gasoline and household staples sky high. Home prices down. Credit tight. Big name institutions available at fire sale prices. Government bail outs. Business pressure. Layoffs. Angst. And now the final weeks of the presidential election campaign seem to be more circus than serious conversation.

Financial advisors are finding themselves right in the middle of the turmoil.

Anxious clients call for reassurance - even the most discerning investors seem to be unnerved by the constant barrage. Sure the stock market has historically bounced back over time, but could this time be different? And with tidal wave of Baby Boomers marching ever nearer to retirement age, the tension is at an all-time high as people worry about their retirement plans. What to do? What to do?

Four smart, veteran advisors shared their thoughts with me on September 16, 2008, just as the bad news about Lehman Brothers was breaking.

  • What are they hearing from their clients?
  • What are they seeing in the midst of these unprecedented times?
  • What are they telling their clients?

Joining me for a robust conversation were:

  1. Arthur Cooper, Principal of Cooper McManus in Irvine, CA
  2. Bill Glubiak, Principal of Cedar Brook Financial in Cleveland, OH
  3. Clyde Wyatt, Principal of Navigation Financial in Dallas, TX
  4. Don Patrick, Principal of Integrated Financial in Atlanta, GA

These 4 advisors are also Branch Managers for Securities America, Inc., one of the nation's largest, independent broker/dealers (member FINRA, SIPC). This means they are charged with super
vising, training and mentoring other advisors on a daily basis.

The focus of our conversation:
Communicating with Clients During Turbulent Times

If you're reading this post, you absolutely must click the link below to listen to the podcast. It's 30 minutes long but worth every minute.

What should YOU be telling YOUR clients? Listen now:

MP3 File