While uncertainty over foreign and domestic threats can create panic among consumers, they can also bring opportunities to those who can offer information and guidance to a nervous public. Just as we have begun to see the light at the end of the tunnel concerning the pandemic, the escalating war in Ukraine has reintroduced a word to the American public not heard in a while: Stagflation.
Undoubtedly, you have heard concerns from your clients and prospects about the rise in inflation and slowing economic growth, also known as stagflation. When speaking with them, you have probably discussed measures they can take to help protect themselves, such as alternative investments like real estate and forms of inflation protection. But what should an advisor be doing to position themselves as thought leaders to their clients and prospects on a broader scale?
Keep in Touch
Staying in close contacts with your clients and prospects during these uncertain times is important and should be done more than your just your face-to-face meetings. Keep them abreast of the most important financial and world news affecting the markets via email or video messages and let them know what steps you and your office are doing to help protect their hard-earned wealth.
Speak Simply
Many people are glued to the news right now as events across the globe change by the hour and those nearing on in retirement will have strong emotions when they hear news of economic trouble in a down market. Never forget, you’re the expert voice: Distill down the amount of overwhelming information out there, pick out the most important points for your clients, and explain it in terms they can understand that will actually matter to them.
Know Your Audience
The news doesn’t explain what events mean for specific groups of people, and advisors are in a position of authority to explain how market downturns could affect the 50+ demographic. They may not readily find content explaining how the events of the world today may affect those looking to retire in the near future. Advisors are able to speak to their specific concerns and explain how it may affect them.
Now is the time for financial advisors and institutions to show their expertise and act as thought leaders for their clients and prospects. Simplicity Lone Beacon has strategies and offerings that can help you bring peace of mind to those you serve. Get in touch with us today to learn more about our content offerings that can make the process easier and less time-consuming.
