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Five Ways to Help Your Clients Manage Their Fears

5 min. readbyVexxit StaffonJuly 11, 2021
As an advisor, you very well can’t give a definite answer to every question your clients have. What you can do is address your clients’ concerns and give them confidence in their decisions. Explore five tips to help clients manage fear in uncertain times.

The past year has been full of ups, downs and unknowns for many, including those in the financial world. The inflation rate is up. Mortgage interest rates are down, though there’s talk of an impending increase. And those unknowns —they’re being felt by investors and advisors alike.

Should I invest in real estate? Should I refinance? How can I protect the investments I already have? Investors are understandably concerned about how to best manage their hard-earned money.

As a financial advisor, you very well can’t give a definite answer to every question your clients have. No one could have predicted the year we’ve experienced, and no one really knows for certain what’s coming next. What you can do is address your clients’ concerns and give them confidence in their investment decisions. Here, we’ll share five ways to help your clients manage their fears in uncertain times.

1. Hear them out

When your clients have concerns, the best thing you can do is to hear them out. A listening ear can go a long way to building trust, and that’s essential in a client-advisor relationship.

If there are some clients you haven’t heard from in awhile, it’s worth reaching out to see how they’re managing. Let them know you’re here if they have concerns and you’ll do what you can to alleviate them.

2. Feel their fears

Acknowledge that your clients’ fears are valid. Lots of people are feeling fearful right now, for their personal and financial health. Let them know that although things might seem scary and difficult, you’re here to see them through any financial challenge that comes their way.

3. Be prepared

It’s hard not to let emotions take over when so much is at stake. Fear, grief, anger—don’t be surprised if you’re met with strong emotion when you connect with clients. Some may have lost their savings or worse, their loved ones, in a pandemic that has affected us in different ways. We never really know what someone is dealing with behind closed doors. Try not to take it personally.

4. Encourage them to stick to their plan

Anytime you go online or turn on the TV, there’s bound to be a bad-news story that could amplify someone’s financial fears.

Rather than telling them they have nothing to worry about, help them focus on the long term. It’s not unheard of for markets to fluctuate, but a long-term plan accounts for the ups and the downs.

5. See the opportunity

While market volatility can be the cause of fear, it can also bring opportunity. Maybe now’s the time to jump on those low interest rates or stocks that your clients have always wanted to own, but are also experiencing a low.

Be clear on the risks involved, and bring it back to the long-term objectives. A little bit of risk isn’t necessarily a bad thing in the big picture, which is what’s important to focus on.

Reassuring your clients that you’re there to support them no matter where the market is lets them know you truly care about them and their objectives. It also demonstrates your ability to get them through the highs and the lows with your unique skills and expertise.

Vexxit can further showcase what you have to offer and communicate what sets you apart from the rest when you join its network of professionals. Learn more about Vexxit and how it can help you grow your business.

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