Growing your network on LinkedIn helps build your brand awareness and form real connections with potential clients. And the best way to stay vigilant and find these opportunities to connect is to follow industry leaders.
During periods of market volatility, advisors typically recognize that rebalancing and tax-loss harvesting strategies are important for their clients. The ultimate goal is to maintain their clients’ target allocation and realize tax savings at the end of the year.
Both of the previously mentioned strategies provide value to clients in difficult situations. But before advisors begin this process, they should focus on identifying opportunities to set clients up for success in the long term.
In recent weeks, advisors have faced something they haven’t seen in a decade: a volatile market that ultimately resulted in a significant correction and the end of the long-term bull market. This current volatility is based on uncertainties around the impact of the COVID-19 global pandemic, as well as an oil price war. To pile on, we are all transitioning to remote working environments and adjusting to meetings that aren’t in person. These circumstances would amplify any advisors’ insecurities and fears that their business will suffer.
Facing unprecedented situations in the markets raises stress levels for both advisors and clients. Fortunately, it’s still possible for advisors to have positive, productive conversations with their clients when the news is negative or uncertain.
Essential to this process for advisors is first examining how they do business. Face-to-face meetings shouldn’t be a requirement for a regular review meeting. Flexibility in how advisors deliver information to their clients is important.
For those who weren’t yet offering their clients ways to connect virtually, the spread of COVID-19 has forced our hands to explore options through channels like Zoom, Join.me or Go-To-Meeting. We can go kicking and screaming, or we can embrace this change and look for the opportunity. Now is a great time to add these options so that clients can still get the information they need in a comfortable setting.
We’ve spoken with many advisors over the past few weeks. It’s an uncertain time for everyone. But throughout these conversations, it’s become apparent that advisors need something positive to talk about with clients. After the longest bull market in history burst into oblivion, we can no longer count on positive performance to delight our customers. We have to dig deeper.
The current market correction has hit the industry hard. It's the steepest decline since 2008, and in the wake of a global crisis, the investment horizon has never looked less clear.
Multi-account management – ESG – asset location – AI – diversity in financial services – and personalized digital experiences. These were the key themes of this year’s T3 conference. The breadth of vendors focused on solving for these growing industry themes.
Clients come to advisors seeking strategies to maximize the probability of achieving their goals. In working with their advisors, they wish to evaluate trade-offs, understand risks, and see how their investments will work to achieve their goals in a simple, intuitive manner.
While digital investment advice platforms (a.k.a. "robo advisors”) rose to prominence by addressing an improved digital experience, they fail to fill the void of many elements, along with other uncoordinated strategies.
With all the compliance rules that need to be followed in the financial services industry, it can be intimidating to leverage a controversial social media platform like Facebook. But once an advisor understands the necessary parameters that should be followed, they will come to realize how impactful Facebook can be to amplify marketing efforts, increase brand awareness, and offer engagement opportunities to prospects.