A Freezing Nation: Tips to Prepare Seniors
"Oh baby, it's cold outside," suitable phrase for the season and fitting for the extreme freezes we're experiencing across the nation.
Younger people see snow and ice as an amusement and a way to have fun, but for older adults, the cold brings hazards and risks of falls and hypothermia. There are no advantages in that.
That's why it's important for seniors to prepare properly and make sure your home and car are ready for winter's deceptive killers. Here are the predominant ones:
- Wind - winter brings high winds that can create blizzard conditions with blinding, wind-driven snow, drifting and dangerous wind chills. These winds bring down trees and utility poles.
- Snow - accumulations can immobilize a region and paralyze a city, strand motorists, and interrupt emergency services.
- Ice - massive build-up brings down trees, utility poles and lines, and communication towers. Power is disrupted for days while companies repair the damage.
- Cold - drastic drops in temperatures frequently accompany winter storms. Infants and the elderly are most susceptible to prolonged exposure, which causes life-threatening conditions like hypothermia. Below freezing temperatures damages vegetation and cause pipes to freeze.
Ways to take care of yourself
- Healthy foods - produce is out of season and costly. Check out the food market's frozen veggies department. Be sure opt for the brands with less sodium, and select fruits and vegetables such as pomegranates, cranberries, citrus fruits, grapes, and root vegetables. Support the immune system with Vitamin C and eat foods rich in zinc, such as fish, poultry, and eggs.
- Stay fit - if your doctor permits and you are able, get outside and enjoy your favorite activities. But dress in layers and wear a hat and gloves. Make sure you remember to apply sunscreen to your exposed skin and to wear insulated socks and proper shoes.
- Soak up the sun - the benefits of Vitamin D plays a big part in battling the blues. Fresh air and natural light are key to fighting depression. If it's freezing, open the blinds and sit by the window. Sunshine increases the body's energy level and outlook.
- Car safety - maintain your vehicle by testing the battery voltage, the lights, and checking the coolant levels. Check the tire pressure, and fill up the gas and windshield fluid tanks. And if you're on the road a lot, purchase a survival kit that includes a blanket, a first-aid kit, a knife, a flashlight, jumper cables and a cell phone charger that plugs in the cigarette lighter.
- Keep the house warm - an older body has a harder time maintaining it's temperature, and since most seniors have a limited income, they usually turn down the heat setting. However, know that hypothermia is a significant risk, and over 13,000 hypothermia deaths occurred between 2003 and 2013 in the United States. So, set your thermostats to at least 68 degrees and wear warm clothing. Check with the utility company to see if you qualify for assistance.
Solving Your Biggest Client Issue May Be at Your Fingertips
Written by: Shileen Weber
When the American Funds’ Capital Group asked 400 advisors last year to name the biggest issues they face in their businesses, it wasn’t the DOL, market uncertainty or the economy that sat in the center of the idea cloud of answers.
It was client issues.
At a time when regulatory concerns and market turbulence would seem to be at all-time highs, the advisors who answered the survey were most concerned about servicing their clients as well as ways to find new ones and grow their businesses.
It’s one of the ironies of the business, that the things most people find so hard to manage – creating financial plans, managing assets and staying ahead of events – are what advisors find to be the easiest parts of the business. Marketing - the business of selling themselves – can be the area advisors find the hardest elements to master.
In this age of instant communication, it can be even more intimidating to market your practice, especially to younger clients for whom many traditional methods like newsletters, postcards and phone calls don’t work anymore. For them, email is the preferred way to get information, and, if it’s important, they are more likely to respond to texts, not phone calls.
But, it doesn’t have to be that hard. The digital age gives you access to ideas and content of all kinds you can use to touch your clients in a way that positions you as a valuable resource. The key is to keep it simple, stick to some basics and create consistent outreach that clients and potential clients are interested in and will appreciate you sharing with them.
Here is a common-sense approach you can take that will not require you to hire an expensive agency or take valuable time away from managing your clients’ assets and running your business.
Content is King
Create a content calendar for the year: Think about reasons to touch a client 13 times during the year – that can be once a month and on their birthday. (The common rule of sales is that it takes at least 7-13 touches to make a connection.) The number is limited and keeps you from inundating the clients who likely already feel inundated with content. You can take the seasonal approach – tax planning in the fall, January for account review content, college financing in the spring – and supplement it with topical events during the year. Creating a calendar will help you stick to a plan. Here’s one resource for a content calendar.
Review what content is already available to you: Basically, this means finding the resources you already have and determining what pieces will be most valuable to your clients. Start first by checking out content your broker-dealer already generates that you can personalize. Many firms have economists who write regularly about the market. That’s content you can pass along to keep clients up-to-date they would not have access to anywhere else. In addition to your broker-dealer, mutual funds, your clearing firm, and money managers are all excellent sources of informative and even analytical content.
Personalize the content you use: Add your name, the client’s name or some way to avoid making it feel like canned content that you are using just to check the outreach box. See what capabilities your email program may have to help you.
The birthday strategy: One advisor used clients’ birthdays in a new way. Instead of the card or lunch date, the advisor asked the client’s spouse for a list of friends he could invite to a birthday lunch and made it a memorable event that was also a soft approach to getting referrals.
Become a curator of good content: What your review will show you is that you don’t have to generate the content yourself. You can point clients to pieces you find insightful. You are likely already doing this every day just to keep yourself informed. The next step is to compile it and send out the very best pieces to your clients, again, with a note with your own thoughts about why you found it valuable.
Find out what is working and do more of it: Use your client interactions, in-person and online, to find out what types of content clients liked and any they didn’t. You can use tracking on your emails to see how many were opened as a measurement tool, but the personal interactions tend to provide more insight than raw data.
Be disciplined about your execution: Get help from an office assistant or schedule the time each month to do the content development and outreach. As any good strategy, if you make it a habit, it won’t seem so hard.
Most importantly, be yourself and be personal: You may want to regularly get personal by talking about your family and hobbies. The ultimate is if you can provide content that is personal to your clients, not just about their investments – they get that from their statements, apps and online portals. Think alma maters, hobbies, children and parents.
Of course, as a disclaimer, you have to make sure all content and communications are complying with regulations and the rules of your own broker-dealer.
The process of creating a plan will get you thinking about your clients in a new way. That exercise alone can re-energize your business and get you seeing marketing opportunities in places you may never have seen them before.
Shileen Weber is Senior Vice President of Marketing and Communications at GWG Holdings. She was previously Director of Online Strategy and Client Experience at RBC Wealth Management, where they placed first in two JD Power and Associates U.S. Full Service Investor Satisfaction Study (2011 and 2013).
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