1. Have an opinion

About the markets, the economy, the future, and the current state of the union. Your clients trust your judgment and believe in you. Leverage resources from your firm and external partners to gather facts and craft a compelling narrative. Believe in your story and articulate it clearly. If you communicate with confidence, your clients will have no reason to doubt you.

2 Make your clients’ financial plan the cornerstone of the conversation

When clients are inclined to make rash decisions or move to cash, revisit the plan. Continually review the contingencies put in place and the reasons behind them. It’s likely the plan accounted for potential market corrections, allowing for some level of volatility without major lifestyle or goal adjustments.

Use the financial plan as a decision-making tool. Consider alternative scenarios, such as the possibility that the situation might not improve quickly.

How does this impact their decisions? Offer suggestions like modeling the plan with your client working an extra year or postponing the purchase of a second home.

Assess the impact of these decisions on your clients’ long-term plans. Often, if clients see that their plans aren’t completely derailed and only require narrowing some choices, they can adjust their worst-case scenario mindset.

3. Take care of yourself

Burning the candle at both ends won’t improve your clients’ outcomes. Sleep, exercise, hydration, and setting boundaries for family time become even more important during stressful periods. Even taking 15 minutes for a walk around the block to get some fresh air can make a significant difference.

Clients depend on their financial professional for trusted advice, to serve as a sounding board, to offer assistance, and to help them navigate their situations. This is a crucial part of the financial professional’s role. But have you considered who plays that role in your life during times like these? Is it a colleague, mentor, family member, spouse, coach, or consultant? Identify that key person and let them know how much you appreciate them. Having a support system during times of crisis and volatility can make the experience significantly more manageable.

As a financial professional, the more balanced and confident you present yourself, the more likely your clients will reflect these qualities. Many potential clients lack the guidance and leadership they seek. View this as a chance to inform prospects—revitalize your prospecting pipeline, connect with these individuals, and impart your insights and methodologies. It's probable that their current financial professionals haven't taken these steps. By proactively engaging with them during uncertain times, you'll earn their respect, and they might even decide to become your clients.