Estimated reading time: 0 minutes, 51 seconds

Amid panic and fear about the coronavirus pandemic and the correlated market fallout, advisors need to be the calm in the storm for their clients. That’s according to retirement experts interviewed by ThinkAdvisor.

finance 4599824 640smallAdvisors need to communicate clearly to clients, noting that in most cases, the most prudent approach for investors is to simply stay the course when it comes to their retirement portfolios. They should talk to individuals about their goals and how those goals haven’t changed just because of the current crisis. And, remember, that clients are often emotional, worried about more than just their finances.

Some advisors have shown clients their performance over the last year, which they say, shows gains in most cases. When shown they still made money, despite all the doom and gloom, they become less stressed.

Cerulli Associates, for its part, says that when looking at the 2008 financial crisis, advisors who proactively reached out to clients were able to retain clients and even gain new ones.

Read the full article from ThinkAdvisor.

Last modified on Wednesday, 25 March 2020
Read 573 times
Rate this item
(0 votes)

Visit other PMG Sites:

click me
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline