Written by: John Morgan
Back during the 2008-2009 recession, the situation felt eerily similar to what we are going through today with the Covid-19 Pandemic. As an Advisor during those dire times, I can remember clearly all of the overwhelming emotions welling up inside of me. The fear of the unknown, how far was the market going to fall, why did I get into this business, anger with the govt and regulators who failed us, was I going to survive, were my clients going to leave me because I didn’t see it coming.
Then it hit me. This is actually the most important time for me as a Financial Advisor to show my clients why they made a good decision to hire me. To be there for them 100% during these most critical times in both our relationship and the well being of their long term financial plan. When things aren’t going well and it seems like all is lost. That’s when I came up with a great exercise to share with my clients on how the markets work, that it will not change, that I will always be there to help them get through it and the best thing they could do is take advantage of it, not panic and sell.
Felt like this exercise might help some of the newer financial advisors out there who are feeling the same fear and uncertainty my clients and I went through during the “Lost Decade” so I created a video which I hope will help. A bit lengthy, I know, but not meant to be a soundbite. Just a way for me to give back to my advisor community during these very unusual times..