I believe that one of the best times to clarify and reinforce your value is during volatile market conditions like we have been experiencing. The key is to have a communications strategy that you are ready to implement.
Here is an example of a common sense communications strategy that some of the top advisory firms religiously employ when market conditions get bumpy.
1. When the market drops 1% or more, hold a company-wide Messaging Meeting to determine the consistent message that the firm wants to express via phone, email, and in-person.2. Determine the priority level of clients to be contacted due to their assets invested, propensity for fear, etc.3. Split up the list of prioritized clients and begin reaching out via phone to ease their fears and relay your perspective. Schedule in-person meetings as necessary.4. Write a meaningful email assessment of the situation addressing how clients may be feeling, what they should do or not, and why and send to all clients.Related: 5 Ways to PROVE Your Value
Difficult times allow you to reinforce your value because you are helping them do the right thing at the right time. It is in the difficult times that I believe advisors really earn their fees.