Financial Advisors, How To Manage Volatility and Reduce Stress

What were financial advisors’ top concern in the second and third quarters of 2014? “Managing volatility,” according to a survey by Fidelity Advisor Investment Pulse.

You may be encountering nervous clients now. More market jolts could be ahead because of economic uncertainty and unsettling global conflicts.

What can you do to relieve stress and worry — both yours and your clients?

Here Are 5 Steps to Manage Volatility and Reduce The Strain on Yourself, on Your Practice, and on Your Clients

1 – Manage Your Emotions

TalentSmart’s research of more than a million people found that 90% of top performers were skilled at managing emotion in times of stress to remain calm and in control.

That’s why I invited Marci Smith, leadership and transition coach, to give you quick tips for managing your emotions.

Here are Marci’s practical suggestions:

There are several things top performers consistently do that help them remain calm and in control through stressful times. A key to being able to manage emotions is to maintain a positive mindset.

It is best to get started when you are not in crisis mode. Once these practices become a habit, they can sustain you through the tough times as well as the easier ones.

– Practice Gratitude

Make sure to take note of something you appreciate and are grateful for each and every day. When you find your self-talk going to the negative, re-frame it by finding something that you appreciate and is going well. Work towards seeing the positive and being grateful.

– Control the Controllables

You can become frustrated and waste a lot of energy when you don’t focus on what is in your control to change. Make an assessment and decide what is worth your time and energy. Follow through with swift action. The sooner you can get to it, the sooner things will shift.

A real killer of calm is anxiety. And a real killer of anxiety is action! Avoidance keeps you stuck in anxiety and inactivity.

Back to me . . .

How to stop avoiding? If you find yourself stuck, work with someone who can help you to get moving in a direction that serves you.

A great place to start is with someone who is experienced, has gotten results, and can help you gain a more positive mindset.

You may remember Marci Smith from our recent article, “Scarcity or Abundance? How Your Mindset Shapes the Future of Your Financial Advisory Firm.” She has worked with Fortune 500 corporations as well as professional practices of all sizes.

Contact Marci for a confidential 30-minute complimentaryconsultation. She can be reached by calling 434.284.3807. Or you can send an email to Marci at

4 More Steps to Manage Volatility and Reduce Stress

2 – Be Proactive

Most important, if you aren’t doing this, begin immediately to communicate personally with clients. It could take the form of a newsletter, a simple letter, or a brief memo that speaks to a current situation. Or it could be a webinar.

What it’s NOT is a canned one-size-fits-all newsletter. The key concept is that it is “personal.”

It IS a thoughtful message from you to your clients. When you create this message, envision a top client in front of you — someone you want to keep happily in your practice for years and years.

3 – Promote a Consistent Message Everywhere You Touch Clients, Prospects, and Influencers

You have many opportunities to reinforce your message. During the disruptive year of 2009 we developed a Communication Plan for a client (let’s call him Carl). We helped him convey a steady message to clients and prospects again and again.

Carl followed a consistent money-management philosophy with practices and principles based on the work of Nick Murray. He promoted the philosophy as a way to help clients feel calm and confident about their financial future.

To help Carl immediately we created a focused 10-slide pitchbook that honed his message.

Then, we developed a website around his distinct message. On every web page that clients or prospects visited they gained fuller understanding of the strength of his approach and its benefits to them.

4 – Offer Hope, Raise Your Client’s Confidence

Of course, we encouraged him to send out personal letters. One powerful letter was called “A Message of Hope.” “This past quarter,” Carl wrote, “I had several conversations with clients who were convinced every publicly traded company was going out of business. In most instances those fears were somewhat eased when we drilled deeper.”

Discover more about telling your story and promoting your message in our new book, “Marketing Power for Financial Advisors.”

For more information about getting the book in your desired format CLICK HERE

5 – Face Your Clients and Prospects

At the beginning of the recession Carl realized that his clients needed face-to-face contact. Then, his team dedicated all of its resources to scheduling meetings on an hourly basis five days a week for several weeks.

Primarily, they listened. Then, they “offered our perspective on what was happening in markets around the world.”

Very soon, however, Carl and his team shifted to offer informal luncheons for clients and prospects in a specific category such as business owners. He imaginatively connected the current situation with his consistent message and allowed time for informal conversation.

The outcome? One year after this proactive approach Carl “increased assets under management 20% and doubled my practice net income in the year after working the Hanson Plan.”

Yours for all the Marketing Power you want,

Shirley Hanson
Co-author, “Marketing Power for Financial Advisors”

P.S. What’s next?

We invite you to take advantage of the “Hanson Plan” in our new book “Marketing Power for Financial Advisors.”

CLICK HERE to find out about getting the book into your hands in your desired format.

About Shirley Hanson

Co-Author "Marketing Power for Financial Advisors"
In 1991 Shirley Hanson co-founded the Hanson Marketing Group, a direct marketing firm. Since 2005 she has focused her work on helping financial advisors take advantage of the same strategies and tactics that high-growth firms count on year after year. Advisors are able to attract more of their ideal clients, reach a Category of One, and raise their production. She collaborates with advisors to unlock their vision for their practice sooner with less hassle.

Contact Shirley
Phone: 215-753-2620 | Fax: 215-754-4165
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