As the coronavirus continues to spread, airports have been shut down and trade with highly impacted countries has been halted. All of this has led to investor unrest. While now is the time for client handholding, many advisors are scurrying to develop and deliver an appropriate message to alleviate client concerns.
Brooke Kelley, co-founder of The Kelley Group, says, “Crisis communication is both an art and science that requires a well-defined and expertly delivered skill set. With the appropriate communication skills, advisors can strengthen their relationship with clients and increase prospecting opportunities.”
Because most rookie advisors have never experienced a significant down market and senior advisors have delayed retirement because of the relatively easy market environment, Sarano Kelley co-founder of The Kelley Group and a crisis expert, says: “We expect to see many of these types of advisors opt to leave the business. This creates an excellent opportunity for those who are prepared and have the fortitude to weather any crisis by moving from a defensive position, to operating on the offense — being proactive.”
Sarano explains how he knew an advisor who received a massive level of assets from a prospect whose own advisor was MIA during a market downturn. “Advisors who are proactive during this time are going to have a field day if they play it right,” he adds.
Some examples of proactive activities advisors can do during a crisis, include:
- Creating a phone, email, teleseminar and/or face-to-face message addressing the coronavirus and other challenging events that can affect your client’s financial future.
- Preparing responses to timely questions clients and prospects might ask you.
- Speaking at group events about how the coronavirus is affecting the market.
- Co-hosting events with healthcare professionals to discuss health, the markets and the coronavirus.
- Alerting your Centers of Influence (COIs) to your availability for their clients with investment concerns.
- Hosting calls and intimate dinners to better manage client concerns.
As a service to the financial services industry, The Kelley Group is offering a series of complimentary Crisis Communication Skills Training teleseminars for advisors.
To register, go to: https://ow89g00s.pages.infusionsoft.net
