Be visible when your clients need you most

Normally that does not really matter but right now things are moving so fast that what I write today may be out of date by the time it gets to you.

So, a date stamp. As I write this, we are just over a month into lockdown and the markets are currently trying, and failing, to give oil away and stock markets, having stabilised a bit, are having another wobble on the back of this.

There is not much in the news beyond the latest with the health situation, but what there is seems to be focusing on the bad, falls in markets, the negative oil price, businesses failing and empty shelves.

I see stories of clients who have not heard from their adviser at the time they need us most

Given all this, it is natural for clients to be worried.

They will be concerned about their own finances, the losses on their investments and what that means to them and their future life, concerns for their own business or job, or for the future of loved ones.

They will be feeling uncertain and that breeds fear and anxiety.

Now is the time for us to be visible with clients, yet I see stories of clients who have not heard from their adviser at the time they need us most.

This will not be easy, some conversations could be hard, but this is what our clients pay us to do. We need to listen to them and understand their fears and anxieties.

Often just that may be enough, but as guides through their financial lives we can remind them of the goal, the planning we have undertaken to get there, and the fact that we have built into the plan shocks, such as those we are experiencing.

We need to show them certainty, confidence and reassurance.

Doing this well will also be the best marketing you can do.

Being present for your clients when they need you the most will put you front and centre to be referred to their friends, colleagues and family who may not have an adviser or currently deal with one of those advisers that has disappeared.

This is the real test of the value you bring to a client beyond their money.

Step up, show up and be there for them; be about the person, not the pounds, and it will be paid back to you in the future with loyal clients and a steady stream of new referrals.

Darren Cooke is a chartered financial planner at Red Circle Financial Planning