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Don’t Let Your Female Clients Turn to Another Advisor

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Don’t Let Your Female Clients Turn to Another Advisor

When markets tumble all clients get anxious but for many women volatile markets undermines any sense of safety and comfort, creating fear and unrest.  

For many women they lack the years of experience managing their investments to understand the natural volatility and investment cycles. With this lack of experience women want more assurances that the decisions they have made were the right decisions for their future.

When there is fear, relationships can quickly fall apart and it’s not uncommon to find women seeking advice from alternative sources.

Take the time during these volatile periods to reach out to your female clients repeatedly if need be.

Call to give her that sense of comfort knowing you are there watching out for her money.

Here are 5 ways advisors must approach and guide women through volatile markets:
 

  1. Remind her of the progress that has been made in her accounts. Focus only on the numbers that make complete sense to her. Don’t overwhelm her with numbers and statistics this only adds to her sense of anxiety.  
  2. Ask her questions, get to the root of her concern, the root is not always what they initially communicate.
  3. Focus on what she needs to live her life and give her a healthy perspective as to her progress and financial status.
  4. Don’t disregard her fears, acknowledge her fears but help her understand that this has happened before and why the future is outlook is optimistic.
  5. As you break down her positions remind her of the function of each position, “some investments are for growth, or accelerated growth, others for income and others for safety.”  Use this time as an opportunity to help her recognize the value of asset allocation and staying balanced in the markets whether they are rapidly going up or down.
     

Related: Being Appreciated as an Advisor Has Never Been Easier; Here’s How

You can’t call too much, but not calling enough can create serious cracks in your client advisor relationship.

And if some other advisors is providing more consistent perspectives and reassurance these volatile markets are creating more downside for you that goes far beyond the value of investments.

Want more methods to authentically connect and engage your clients?  Become the most sought-after advisor by women in your community with our femXadvisor program.  

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